I dunno man. Whatever way it goes it doesnt look good for capitalism.
Say its a huge success and they manage to achieve AGI - then comes mass unemployment, mortgage defaults, slow down in spending…
There’s also a lot of disgruntlement left over from the 2008 crash, and economies never really recovered from that. Climbing out of whatever comes next is going to be a much bigger challenge. It might be easier to start over.
Frankly, for investing, AGI shouldn’t even be on your radar. AGI can only result in three outcomes - extinction, complete totalitarianism, or some sort of communist system. Most likely any AGI would just kill us, probably by accident. But even if they manage to control it, then what? You quickly end up with one or a handful of AI companies owning literally the entire economy, producing everything. At that point capitalism is done. Either we allow the new oligarchy to exist indefinitely (totalitarianism) or we nationalize the companies and go full Star Trek.
What these AI companies miss is that true AGI is incompatible with capitalism. Capitalism doesn’t work when only 1-3 companies make all the goods and services in the economy.
Your point on 2008 is valid though. There’s a lot we just swept under the rug instead of dealing with properly.
I dunno man. Whatever way it goes it doesnt look good for capitalism.
Say its a huge success and they manage to achieve AGI - then comes mass unemployment, mortgage defaults, slow down in spending…
There’s also a lot of disgruntlement left over from the 2008 crash, and economies never really recovered from that. Climbing out of whatever comes next is going to be a much bigger challenge. It might be easier to start over.
Frankly, for investing, AGI shouldn’t even be on your radar. AGI can only result in three outcomes - extinction, complete totalitarianism, or some sort of communist system. Most likely any AGI would just kill us, probably by accident. But even if they manage to control it, then what? You quickly end up with one or a handful of AI companies owning literally the entire economy, producing everything. At that point capitalism is done. Either we allow the new oligarchy to exist indefinitely (totalitarianism) or we nationalize the companies and go full Star Trek.
What these AI companies miss is that true AGI is incompatible with capitalism. Capitalism doesn’t work when only 1-3 companies make all the goods and services in the economy.
Your point on 2008 is valid though. There’s a lot we just swept under the rug instead of dealing with properly.