4万亿刀，仅3.6万人，英伟达揭残酷真相：劳动正与财富大脱钩

Core Insights - The article discusses the significant decoupling of labor and capital, highlighting how companies like Nvidia have achieved unprecedented market valuations with minimal employee growth [1][4][30] - It emphasizes that this trend is not limited to tech companies, as seen in Walmart's revenue growth without an increase in full-time employees [30] Group 1: Nvidia and Market Valuation - Nvidia reached a market valuation of $4 trillion with only 36,000 employees, creating a historical record for market value per employee [1][4] - The comparison of Nvidia's market value to the GDP of 1.5 billion Indians illustrates the scale of its economic impact [1] Group 2: Labor and Capital Decoupling - The article notes that in 2007, HP became the first tech company to surpass $100 billion in annual revenue with 172,000 employees, while current tech giants show a stark contrast in employee growth relative to revenue [4][5] - Companies like Apple, Google, Microsoft, and Meta have significantly reduced the number of employees needed to achieve new revenue milestones, indicating a trend of increasing productivity without proportional labor growth [12][16][19][22] Group 3: Amazon's Unique Position - Amazon's recent growth in revenue did not follow the same pattern as other tech companies, as it added 36,000 employees to achieve a $200 billion revenue increase, reflecting a misjudgment of post-pandemic market conditions [25] - The CEO of Amazon indicated that the introduction of AI technologies could lead to a reduction in workforce while increasing efficiency [25][27] Group 4: Future Implications of AGI - The article posits that the next trillion-dollar revenue increase may require even fewer employees, suggesting a long-term trend of labor and capital decoupling that has been ongoing for years [30] - The discussion around AGI is framed as a gradual evolution rather than a sudden event, with AI accelerating the transition towards this new economic reality [30][31] Group 5: Economic Structure and Market Dynamics - The article suggests a future economic landscape characterized by a "smile curve," where large tech companies operate with minimal employee growth while empowering smaller entities like individual sellers and content creators [38] - This evolving structure indicates that the middle segment of the economy may face increasing pressure, highlighting the need for adaptation in the workforce [38]