Again, the plan could just be to let people die, but the state would begin to crumble or the country would be conquered in the interim. You need people in case there is a war. Or that is what happens and we become one global body governed by super computers until extinction. Fin.

Not a perfect explanation — a lot of other things have to go down for this to turn out as such, and the debt and equity markets play a role as well, but it is hard to see capitalism thriving in a world where there aren’t jobs for all and there isn’t a strong consumer class to keep buying things.

Say you inherit $10M. That will be taxed. Your returns on your cash / investments will be lower than they are today, making it harder to accumulate passive wealth. You manage to pass on $1M to your child, which is nice, but overtime everyone outside of the powerful “state” leadership is equalized.

I think the most interesting part of this is not the change in lower income folks’ lives — those conditions will stay the same or get better (after getting briefly worse). It’s those in the higher income brackets w/o truly significant generational wealth that will see a big shift.

The “state” would be a handful of businesses, but honestly, a handful of business run the state now anyway. It would simply be more apparent.

Other ways as well, such as in communism, a central authority governs pricing. If AI has the authority and “perfect information” it would govern costs.

Meanwhile, the income tax goes up and social services must go up. If not, you’re cutting your population in half by letting people starve. Which could be a thing!

The entire economy would need to be reformed in order to distribute resources. Over time, those who are working work for the “state”

Business opportunities that capitalize on consumer’s extra income will fall, as will M&A multiples. This shrinks the income of the upper middle class and lower upper class.

In the long run, as income falls, the govt will have to prop up the housing market, essentially eliminating private property.

If investment thesis is correct, AI will eliminate 50% of jobs by 2040. If you assume that ~25% have two jobs and say half of those jobs will be cut, you’re at about 65% unemployment. Plus those who don’t have jobs, you’re at 75% unemployment. You can no longer expect all laborers to contribute.

Steak in Sheep’s Clothing™️

Right? 😋

That’s where some of the listening boxes are hidden (jokes but also eeeek)

I don’t think any work has been done in this place in maybe 7 years? So seems unlikely

Awww ❤️ Enjoy it! And if it makes you feel better, the only flowers I’ve gotten over the last few years were from clients lol

Is that unusually low for you?