Facebook's Gigantic Acquisition Is A Good Symbol Of What's Driving Inequality

One of the insane stories of Facebook's $19 billion acquisition of WhatsApp is that the CEO of WhatsApp, Jan Koum, was on welfare a few years ago, and is now a billionaire several times over. WhatsApp itself only has 55 employees, and several of the early ones are probably worth over $100 million. The speed of wealth accumulation here is breathtaking. And tech and the internet have a lot to do with it. A few weeks ago I interviewed MIT professor Erik Brynjolfsson, who has done a lot of research...