The case that AI labs may not capture all the value AI creates

In a conversation with Amjad Masad shared by a16z, Patrick Collison argues that AI’s future importance does not necessarily mean foundation labs will capture all the value it creates. He compares AI to food: indispensable to the economy, yet food producers do not capture most of the economy’s value. Collison says value accrues to what is scarce and cautions against not starting a company for fear that one company or sector will dominate.