Everyone knows that inequality has gotten out of hand in the United States. Thanks largely to the work of three now-famous economists—Thomas Piketty, Emmanuel Saez, and Gabriel Zucman—it’s probably one of the most widely accepted facts in modern American life. Since the early aughts, they have meticulously documented the rate at which the richest have pulled away from the rest. Their research transformed domestic politics, leading President Barack Obama to declare inequality the “defining issue of our time,” and turning the one percent into a shorthand for excessive wealth and power.
For the 10 years they were together, Kristen de Marco and her terrier Gracie were inseparable. De Marco brought her dog to work each day, and routinely left dinners and parties early to rush home to her; she skipped her 20th high-school reunion because Gracie was sick and none of the available hotels could accommodate a dog.
A few years ago, advertisements for a software service named Monday.com seemed to be suddenly everywhere online. This ubiquity didn’t come cheap. An S.E.C. filing revealed that the product’s developers had spent close to a hundred and thirty million dollars on advertising in 2020 alone, which amounted to roughly eighty per cent of the company’s annual revenue.