We are maybe a few months away from a startup claiming their AI will turn lead into gold, raise the dead, and conquer the heavens to usurp God. They just need a modest 20 billion dollars in funding to make it happen.
> The market potential here is absurdly large: workers in the US are paid around $18 trillion per year in aggregate. For the entire world, the number is over three times greater, around $60 trillion per year.
This is an appeal to greed - let's stop paying wages and make a ton of money in the process. But, if you automatize all work, how will you distribute all this abundance ? How will people without wages afford to buy your goods ? How will you prevent the formation of a society split into masters and slaves ?
Some people have a God complex, they imagine that they know better and everyone should follow their ideas.
Yeah capitalism would become irrelevant and/or they are tempting the largest genocide the world has ever known. Yet this goofball is using phrases like market potential as if saying "all labor is a big market" is some kind of insightful thing to say.
The point is to promise something trendy, not absolutely impossible (but astronomically expensive), a McGuffin, that you can use as an excuse to raise infinite capital.
Unfortunately, this is just a sign of the bigger problem which is what happens when people as a society choose to protect evil instead of killing it.
Anyone who understands economics understands what AI means to organization systems based in a distribution of labor when time value of labor is forced to 0. It stalls and fails.
Evil acts are any act that doesn't result in long-term beneficial growth of self and others (i.e. destructive acts).
Evil people are people who have willfully blinded themselves to the consequences of their evil acts repeating them without thought unless they are stopped.
As society collapses, they will find that the protection they relied upon wanes. They don't realize they are evil people, but that is only because they were induced to blind themselves to it and were weak people. This changes nothing in that they are fully accountable for their actions and choices.
Negligence and Destruction(loss) are sufficient for intent, forming malice.
Socio-economic collapse may very well happen since no market can survive the environment that is being created. Natural law will reassert following known principles discussed in Social Contract Theory going back hundreds of years. It will be violent.
Some people are just evil, and when you have a society whose environment induces all within it, to varying degrees, to participate in evil acts, of course the people at the top will be quite a bit more evil than those at the bottom who may have to commit evil acts, but are not blind and try to correct it when possible.
Time to build a startup that replaces all human workers in AI startups everywhere and just uses AI to spin up more startups, automatic grant applications, etc.
I kind of get it. Just rip the band aid off already. If we are all gonna be unemployed and the economy is going to be AI and robots then let’s just do it. Capitalism as we know it will fundamentally change or fail, there will be a revolution or laws will be enacted to finally build safety nets everywhere and we can get over this will-they-won’t-they bullshit of employers threatening everyone’s livelihoods because “vibe coding”.
Many people are under the naive, misguided, and mistaken belief that the reason we have so many issues today is because we live under capitalism. This belief is false and is propaganda.
True understanding starts with a definition.
Capitalism is an economic system where the means of production are privately owned and operated for profit with prices determined by the forces of supply and demand in a free market. It's characterized by voluntary exchange, competition, and the pursuit of profit.
Profit must be in purchasing power. This requires a stable store of value, a monetary property of the currency which no longer holds true.
Socialism is a system where the means of production are transferred from private ownership to collective or state ownership (in secret or public), resulting in a centralized planning authority controlling all production and distribution.
The key here is in the concept of ownership. Ownership is the right to dispose of the assets at a loss as an individual.
Free-markets require independent adversarial decision-making without cooperation, but money-printing via gifts, or more commonly non-reserve debt issuance/loans like AT&T or other companies with loans > assets, forces cooperation resulting in artificial distortions (such as artificial supply constraints to raise price levels) that grow until no profit (in purchasing power) can be made. This is shown in a long-term trend towards few companies holding the majority of marketshare.
Since money-printing is a function of the state, this meets the rigorous definition of the system we live under right now being socialism, specifically it fails to non-market socialism (but hasn't quite yet).
That wouldn't be so bad if the system was sustainable but we've known since the 1930s that non-market socialism fails to 6 intractable problems. One of which, is a hysteresis problem that can only be solved by having perfect future sight (an impossibility).
Profit in purchasing power must still be made under state-run apparatus which is why the chaotic distortions occur. Corners are cut, regulatory kicks in when people die, shortages ensue, and it can't self-correct because the costs to enter the business are exceeded because the price floor money-printers have set up.
For the last 30 years, the vast majority of everyone's life has become poorer. The options they've had available have dissappeared, their agency has been taken, and the services they pay for have enshittified. These are signs Mises warned about in the 1930s, but few today have the education or cognitive ability (having been tortured their entire lives), to rationally follow the material.
We are maybe a few months away from a startup claiming their AI will turn lead into gold, raise the dead, and conquer the heavens to usurp God. They just need a modest 20 billion dollars in funding to make it happen.
The Demo Day pitch: "This is a $60 trillion dollar market---all we need is one ten-thousandth of 1% of the market!"
And they may get it... https://en.wikipedia.org/wiki/Tulip_mania
> The market potential here is absurdly large: workers in the US are paid around $18 trillion per year in aggregate. For the entire world, the number is over three times greater, around $60 trillion per year.
This is an appeal to greed - let's stop paying wages and make a ton of money in the process. But, if you automatize all work, how will you distribute all this abundance ? How will people without wages afford to buy your goods ? How will you prevent the formation of a society split into masters and slaves ?
Some people have a God complex, they imagine that they know better and everyone should follow their ideas.
Yeah capitalism would become irrelevant and/or they are tempting the largest genocide the world has ever known. Yet this goofball is using phrases like market potential as if saying "all labor is a big market" is some kind of insightful thing to say.
The point is to promise something trendy, not absolutely impossible (but astronomically expensive), a McGuffin, that you can use as an excuse to raise infinite capital.
This is an inducement to destruction, not greed.
Unfortunately, this is just a sign of the bigger problem which is what happens when people as a society choose to protect evil instead of killing it.
Anyone who understands economics understands what AI means to organization systems based in a distribution of labor when time value of labor is forced to 0. It stalls and fails.
Evil acts are any act that doesn't result in long-term beneficial growth of self and others (i.e. destructive acts).
Evil people are people who have willfully blinded themselves to the consequences of their evil acts repeating them without thought unless they are stopped.
As society collapses, they will find that the protection they relied upon wanes. They don't realize they are evil people, but that is only because they were induced to blind themselves to it and were weak people. This changes nothing in that they are fully accountable for their actions and choices.
Negligence and Destruction(loss) are sufficient for intent, forming malice.
Socio-economic collapse may very well happen since no market can survive the environment that is being created. Natural law will reassert following known principles discussed in Social Contract Theory going back hundreds of years. It will be violent.
Some people are just evil, and when you have a society whose environment induces all within it, to varying degrees, to participate in evil acts, of course the people at the top will be quite a bit more evil than those at the bottom who may have to commit evil acts, but are not blind and try to correct it when possible.
Time to build a startup that replaces all human workers in AI startups everywhere and just uses AI to spin up more startups, automatic grant applications, etc.
I kind of get it. Just rip the band aid off already. If we are all gonna be unemployed and the economy is going to be AI and robots then let’s just do it. Capitalism as we know it will fundamentally change or fail, there will be a revolution or laws will be enacted to finally build safety nets everywhere and we can get over this will-they-won’t-they bullshit of employers threatening everyone’s livelihoods because “vibe coding”.
Many people are under the naive, misguided, and mistaken belief that the reason we have so many issues today is because we live under capitalism. This belief is false and is propaganda.
True understanding starts with a definition.
Capitalism is an economic system where the means of production are privately owned and operated for profit with prices determined by the forces of supply and demand in a free market. It's characterized by voluntary exchange, competition, and the pursuit of profit.
Profit must be in purchasing power. This requires a stable store of value, a monetary property of the currency which no longer holds true.
Socialism is a system where the means of production are transferred from private ownership to collective or state ownership (in secret or public), resulting in a centralized planning authority controlling all production and distribution.
The key here is in the concept of ownership. Ownership is the right to dispose of the assets at a loss as an individual.
Free-markets require independent adversarial decision-making without cooperation, but money-printing via gifts, or more commonly non-reserve debt issuance/loans like AT&T or other companies with loans > assets, forces cooperation resulting in artificial distortions (such as artificial supply constraints to raise price levels) that grow until no profit (in purchasing power) can be made. This is shown in a long-term trend towards few companies holding the majority of marketshare.
Since money-printing is a function of the state, this meets the rigorous definition of the system we live under right now being socialism, specifically it fails to non-market socialism (but hasn't quite yet).
That wouldn't be so bad if the system was sustainable but we've known since the 1930s that non-market socialism fails to 6 intractable problems. One of which, is a hysteresis problem that can only be solved by having perfect future sight (an impossibility).
Profit in purchasing power must still be made under state-run apparatus which is why the chaotic distortions occur. Corners are cut, regulatory kicks in when people die, shortages ensue, and it can't self-correct because the costs to enter the business are exceeded because the price floor money-printers have set up.
For the last 30 years, the vast majority of everyone's life has become poorer. The options they've had available have dissappeared, their agency has been taken, and the services they pay for have enshittified. These are signs Mises warned about in the 1930s, but few today have the education or cognitive ability (having been tortured their entire lives), to rationally follow the material.