if he is correct, in a few years’ time money will not matter, even his own $750bn fortune. He predicts that AI will create such abundance that there will soon be little point in accumulating old-fashioned currency units.
Which he isn't. I will bet $1000 against him, choosing 10 years as my number for "few". Gains accrue to owners, and relatively few own things.
By the same token, UBI is a non-starting concept, a government choked for funds by its own trillions of dollars of debt and everyone seeking to pay no taxes has nothing to offer in terms of support for its citizens.
No one can 3-d print their own food or land. Start there. Clothing for free? Huh? Solar panels and batteries (ie energy) for free? Etc.
It's interesting to hear the logic he lays out, which seems parsimonious and highly probably at unfolding. I have not been able to think of high probably counter-logic.
It amounts to: robots (physically manifested AI) + digital AI ==> any job can be done vastly better than any human.
Consequently, goods and services will far outstrip what any human can consume. We'll end up with deflation.
So we won't have to work and won't need money. Very exhilarating and scary road ahead, but there's no way to stop it.
if he is correct, in a few years’ time money will not matter, even his own $750bn fortune. He predicts that AI will create such abundance that there will soon be little point in accumulating old-fashioned currency units.
Which he isn't. I will bet $1000 against him, choosing 10 years as my number for "few". Gains accrue to owners, and relatively few own things. By the same token, UBI is a non-starting concept, a government choked for funds by its own trillions of dollars of debt and everyone seeking to pay no taxes has nothing to offer in terms of support for its citizens.
No one can 3-d print their own food or land. Start there. Clothing for free? Huh? Solar panels and batteries (ie energy) for free? Etc.
It's interesting to hear the logic he lays out, which seems parsimonious and highly probably at unfolding. I have not been able to think of high probably counter-logic.
It amounts to: robots (physically manifested AI) + digital AI ==> any job can be done vastly better than any human.
Consequently, goods and services will far outstrip what any human can consume. We'll end up with deflation.
So we won't have to work and won't need money. Very exhilarating and scary road ahead, but there's no way to stop it.