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4 posts, first seen 3h ago
Users dismissed the claim that AI may become a commodity like engines and electricity without capturing all value, calling the argument folk-economics or nonsense.
Based on 2 visible X reactions from 7 accounts; directional sample.
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@jasoncrawford It's based on folk-economics, just as the claims of universal unemployment are based in folk-economics.
@jasoncrawford It's just nonsense, your intuition is right.
I sometimes hear that “all value will accrue” to AI companies, once AI can do all valuable work I don't see why? All value did not accrue to engine makers as everything became mechanized, nor to electricity companies as everything became electrified. These things became commodities. What are some arguments for why would this happen with AI? (Or not happen?)
@jasoncrawford I think the steelman case is that ASI makes so much more efficient use of any material inputs, and can provide everything humans want for such a small percentage of its total capacity for output, that the fraction of the economy which even humans interact with approaches 0%.
@jasoncrawford It's just nonsense, your intuition is right.
@jasoncrawford...if the entire economy grows 1000x due to AI acceleration, but the human-controlled portion only increases 10x, AI will control 99% of the resulting wealth. That doesn't make humans poor, but it means approximately all wealth accrues to AI.
@davidmanheim I still don't see how the conclusion follows?
Users dismissed the claim that AI may become a commodity like engines and electricity without capturing all value, calling the argument folk-economics or nonsense.
Based on 2 visible X reactions from 7 accounts; directional sample.
Ask a question below.
Published answers will appear here.
@davidmanheim I still don't see how the conclusion follows?