Ysarex
Been spending a lot of time on here!
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Well clearly they're wrong then. 16 bit to 8 bit is 1/2 not 1/3 -- 16/8 = 2.........
16-bit is 2^16, while 8-bit is 2^8. Therefore, (2^16) / (2^8) = 65536 / 256 = 256. Working with a 16-bit image give you 256 times more data than an 8-bit image
Sparky has a hard number point here. That would be 4/10 of a percent then. My original rough estimate was way too generous. So we can now say that in the conversion from 16 bit to 8 bit we suffer a 99.6% data loss. It's hard to resist the numbers. If we take into consideration the loss from RAW to 16 bit and then the additional loss from JPEG compression it's perfectly clearly that in the conversion from RAW to JPEG with some perfectly reasonable rounding the data loss is 100%.

Joe