>They didn't make the rising tide analogy, I read it as how much could be captured by labor if we increased leverage.

Fair point, though it's not completely clear from the comment.

>Wages have historically been a lagging indicator.

Of course, companies don't know in advance that they're going to have GDP-assisted growth. My point was that growth on the back of GDP growth is a collective windfall, and you'd expect it to be evenly distributed. But it clearly isn't.