
I changed my mind on minimum wage after reviewing the data. I used to believe in letting the free market handle it, like most of you.
However, when California raised the minimum wage for fast-food workers, it increased prices for consumers by pennies (~1-2%).
There was zero downside... it didn't drive massive automation, nor did it cause businesses to shutter.
Exactly the same result as Australia and other American cities... no changes in jobs; restaurants didn't close.
We are at record profits for corporations.
We are at a record low in unemployment in America over the past five years.
We are at maximum social unrest due to wealth disparity.
We should WANT to see the lowest-earning Americans go from $12 to $15, to $20, and then to $25 an hour over the next decade.
This isn't virtue signaling; this is good business!
Why?
Individuals earning under $40,000 a year spend 100% of their income.
They save nothing... they just spend it at the same companies they earn it at (Amazon, McDonald's, the Apple Store, DoorDash, Uber, etc).
It increases monetary velocity.
Take the time to research all of this, and you'll find the only downside is for teenage workers, who aren't worth $15-20 an hour. It does depress those jobs, so we should keep teenagers at a lower rate.
Increasing the minimum wage has had exceptional results over the past two decades.
That's just the reality of the game on the field, even if it's easier to say “free market will handle it!”
It makes no difference to the majority of businesses whether they pay $12, $14, $18, or $20 an hour in practice.
The gains to society are immense, and the impact on consumers and businesses is minuscule— and they have easily absorbed the costs.
Do the research!
I did it, and it was very surprising to me.
Changed my opinion on the subject, in fact.
Arvind Ronta retweeted
Integrating AI agents into daily operations will become a leadership skill that separates companies that thrive from those that fall behind.
We’re moving toward a world where AI is everywhere and part of everyday life. The models themselves are becoming commodities. The true value of AI is in the data.
This is happening already. At the consulting giant @Accenture, our Agentforce digital labor platform is extending the reach of the firm’s 52,000 sales people around the world. For example, a coaching agent empowers sellers by autonomously facilitating role-plays, tailored to each deal, providing personalized feedback afterward.
Our own support platform at Salesforce, serving hundreds of thousands of customers, now includes AI agents working with our 9,000 customer service representatives. In just three months, AI agents resolved 84% of incoming customer queries on their own, with only 2% of requests requiring escalation to humans. This allows us to redeploy as many as 2,000 support roles elsewhere in the company. As measured by a recent Morgan Stanley research report, our customers are already seeing 20% to 50% cost reductions in customer support, driven by savings in head count, office space and overhead.
Business is the greatest platform for change. With Agentic AI, we can revolutionize work and create a more prosperous, sustainable world. By focusing on trust, accountability and our common humanity, we can ensure that Agentic AI becomes a force for good. —@Benioff
Arvind Ronta retweeted
Arthur C. Clarke on BBC's Horizon in 1964, when he gave some astonishing predictions about the future.
BBC Horizon: Arthur C Clarke predicts the future, 1964
"The most intelligent inhabitants of that future world won't be men or monkeys. They'll be machines." Arthur C Clarke predicted that in the future, computers would be able to outthink humans.
Arvind Ronta retweeted
.@Visa's Arvind Ronta tells Karen Webster embedded lending offers opportunities for banks & merchants, but they must meet consumers' high expectations for flexibility & trust. New PYMNTS Intelligence data shows strong interest in its potential. pymnts.com/consumer-finance/…
Arvind Ronta retweeted
“embedded lending is a subset of embedded finance — and that’s an important distinction.” @Visa's Arvind Ronta defines it as "contextualized to a transaction or a purchase” and takes me inside how Visa Installments have fostered a “huge spike in conversions.”
For how merchants can get embedded lending right, and the simple, consistent and fully transparent language they should use around disclosures to consumers, stream our full conversation on PYMNTS TV: pymnts.com/consumer-finance/…
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Say goodbye to online payment fraud and yes to safe payments. Tokenising your Visa card ensures your card details are secure and payments safe. Click to pay with Visa. #SafeRehneKaSmartTareeka
Pay #SafeWithVisa
To know more, visit: visa.co.in/pay-with-visa/cli…
Arvind Ronta retweeted
Just as ride-sharing hailed the end of taxis, autonomous vehicles hail the end of ride-sharing.
Arvind Ronta retweeted
Elevate your business to the next level with a host of offers and deals by Visa.
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An emotional response to a situation is the single greatest barrier to power, a mistake that will cost you a lot more than any temporary satisfaction you might gain by expressing your feelings.
Arvind Ronta retweeted
You will get rich by giving society what it wants but does not yet know how to get. At scale.
Arvind Ronta retweeted
Navigate across Vietnam with ease of savings and first in class comfort!
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Arvind Ronta retweeted
ChatGPT just received its biggest update.
It's now connected in real time to the Internet.
Here are 8 things that were not possible on ChatGPT before:
Arvind Ronta retweeted
🍴The Indian Hotel and Restaurant Association has launched a new food delivery app 'Waayu' aimed at offering restaurants a zero-commission platform.
yourstory.com/2023/05/indian…
Arvind Ronta retweeted
The #G20’s data regulations should embed the norm of reciprocity — nations should be able to share and benefit from development #data, state @samirsaran & @asarma2710. #G20India #G20D4D @T20org or-f.org/114955
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The Most Innovative Countries in 🌏in 2022 buff.ly/3VhcPWx
#innovation #transformation #sustainability
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Argentina leads France, 2-0, at halftime of the World Cup final. Follow our live coverage. on.wsj.com/3BJJL2P
Arvind Ronta retweeted
Argentina-France FIFA World Cup: Free-kick for Argentina near the halfway mark
Catch the latest news | bit.ly/3V9fVeZ
#FIFA #IFAWorldCup2022 #FIFAWorldCup2022 #Argentina #France



















