The AI boom has turned the standard profit margin model on its head, according to Apollo Chief Economist Torsten Slok—and it’s making the industry’s growth unsustainable.
Sam Altman and others have publicly stated (something to the effect that) the end goal is for AI to replace workers. There is no amount of money too big for a capitalist to bet on that outcome, especially if they deem it plausible.
Except they take all of the land and resources with them. You posit the billionaires have a fully automated robotic industry at their whim and they will leave any scraps for the rest of us? It would be judgment day from the Terminator series, except instead of a super intelligent Skynet AGI mowing down humanity it would be psychopathic pedophiles.
Sorry, forgot about a few. Sam Altman, Sundar Pichai… Honestly, it’d probably be easier to list the white cishet billionaires in tech than it would be to list the exceptions. There’s tons of them outside of tech, probably the majority tbh, but within tech it’s far too diverse.
Just imagine a world in which the only products manufactured are exclusively chasing the dollars of wealthy investors. So like yachts, custom giant statues, kill drone perimeters, etc.
Sam Altman and others have publicly stated (something to the effect that) the end goal is for AI to replace workers. There is no amount of money too big for a capitalist to bet on that outcome, especially if they deem it plausible.
And then who buys the products 🫠
They buy products from each other, and shut out more and more people if society.
You see the homeless drug addict on the street? They want more of that.
They buy products from each other and shut themselves from society.
Which is not a bad outcome.
Except they take all of the land and resources with them. You posit the billionaires have a fully automated robotic industry at their whim and they will leave any scraps for the rest of us? It would be judgment day from the Terminator series, except instead of a super intelligent Skynet AGI mowing down humanity it would be psychopathic pedophiles.
Exchange still occurs globally and amongst the upper class.
The upper class doesn’t buy anything but stocks.
don’t be so narrow minded. they also buy yachts and real estate and politicians.
They don’t buy enough yachts and private jets and other manufactured property that would put a worker to work to produce it.
I would argue that “Real Estate” and “Politicians” are de facto “stocks”.
When we only have white cishet billionaires, we can abolish money.
Don’t forget about the other big players! Jensen Hwang, Lisa Su, Lip-Bu Tan, Satya Nadella, plus the memory cartel (Samsung, SK Hynix, etc.)
This particular war is a class war.
Ah, so, about them…
Sorry, forgot about a few. Sam Altman, Sundar Pichai… Honestly, it’d probably be easier to list the white cishet billionaires in tech than it would be to list the exceptions. There’s tons of them outside of tech, probably the majority tbh, but within tech it’s far too diverse.
Without the carrot there’s only the stick…
Just imagine a world in which the only products manufactured are exclusively chasing the dollars of wealthy investors. So like yachts, custom giant statues, kill drone perimeters, etc.
what he isnt saying, is AI needs to be profitable for it to happen, it hasnt.
That’s an excellent way to think about it. I mean, horrifying, but incisive.