That may be because too many of us are taught from a young age, to ignore the suffering and violation of sentient life of non-human animals when we know eating their flesh and secretions is not necessary to a healthy lifestyle, making the idea of 'might makes right' proliferate even amongst our own species.
i was thinking along similar lines. when AI creates absolute abundance, who will be the one to share it out to all of us. Is it abundance for all or only for some, or even more diabolical abundance for an elite class that controls our thinking and behavior with AI?
The distribution problem is my biggest worry about who will benefit from tech in then near future. For example, technically, we have enough food in the world for everyone, but that doesn't mean people aren't starving: they are.
@@BRAZEN_Muse : no we need a new form of wealth production distributed system - with all due respect to your comment) Socialism is obsolete in post digital interconnected world.
So my confusion is this: If AI is going to replace most middle-class jobs and the middle-class have the most buying power, and the working-class are going to be replaced by robots...who exactly are all the companies utilising AI and robotics going to be selling their products/services to? Peter asked a question something like this and Ray's answer was not clear at all...
Producing and selling products is only a means to an end. But it’s not the end. When we buy things, we’re really buying the cost of materials, time, and labor. The materials that go into the product or service we’re buying, and the time and labor required to arrange those materials into something we want. That’s a simplified view, of course. There are also costs to deliver a product to market, among other things. And there are efficiency imbalances and economies of scale that work to both the buyers and sellers benefit. But the point is, we are paying for materials, time and labor. The reason this generally works is because we are also sellers. We sell our time and labor, so that we can buy time and labor. But it’s not really time and labor that we want. It’s the thing that time and labor produces. So what if we could just skip the time and labor and move straight to the thing we want? For most of us, that’s not possible because we don’t own the materials and our time and labor in an AI and automated world are overpriced and under skilled. However, if you owned all of the materials and all of the labor, you wouldn’t have to buy or sell any of it. You could just build the thing you want. In theory, you could transform the materials, time, and labor that you own into an entire city without ever having to involve another human being. Would you rather build and sell something to a mass market repeatedly over a long period of time to eventually get what you want, or skip all of that and just build the thing you want? This is why we are seeing a winner take all fight at the top, and unexpected cooperation among individuals with wealth and power. It’s quite possible there won’t be a second place. There will be those who own and control everything and then the rest of us.
@@jasonmillerxIn UBI there is a notion of universal If one country does it it is not universal and in this case yes it will require it to be financed from any available revenue tax. Or from debt-based financing... problem not sustainable I don't inderstand why humans can't think of a way to produce certified solution from the transformation process based on wicked problem .... Humans are stuck in pre digital mindset... explaining - not solving Fear-based trapped and caught in their approximative judgment which leads to externalities-based produced solution with Bell curve cycle. Solution exists but ideology persists - nobody listen everybody wants to lead. And therefore we go nowhere. Biology-based thinking : If you can't solve - no evolution (stagnation) - death- If you want to live you must solve : organic objective function of life. If you fear to lose, your are obsolete. If you want to keep your way of life at the detriment of other - you lose the game. That is what interconnectedness is producing Use AI in pre- digital mindset you will become the product of your own mind culture : outcome game over. Use AI to produce what produce life: infinite game rules outcome. If no understanding of this basic simple rule = game over. Welcome to a New paradigm shift in constant evolution in the flow. You wanted new advanced technologies right? First learn to use it in silence of your own judgment because the future of economics is not based on former form of what we know in silo. With all my respect.
I think our country has a fundamental problem. We (collectively) live in a dream world. We have allowed our media (also collectively) to weave this dream world at the behest of the government. We don't know up from down, friend from foe, good from evil. We have also lost the capability to track cause and effect and to compare reality with our assumptions. Here is an example: Food is abundant. Large numbers of people are obese. The reason large numbers of people are obese is that food is abundant. In a vacuum, that can stand, but if I go to China, where food is far more abundant everywhere around you, much more affordable, and in vast variety, obesity is a tiny fraction of the US. I would suggest that AI poses the possibility (in the next 10 years) of looking at a cycle even older than what Ray typically looks at. About 10k years ago, we invented money as a technology to allow the translation of the value of human work to all other humans. If you play out both sides of the tape on AI and then robots, you eventually get to a point where the value of human work trends to zero. I don't believe you can artificially support money, even real money, in the face of that. I also don't believe that companies, particularly public corporations, will be able to stop themselves from heading in this direction. At every point right up to the point where money no longer has value, they will be making more and more money. You asked Ray at one point about why, given the historic nature of these cycles, why the politicians can't know that and account for it. This is where our particular political system is at a disadvantage because they operate in two-year cycles. Even those who are in office for 4 or 6 years, are still forced to operate on the 2-year cycle because they are not operating as individuals, but as parties. If the problem on the horizon is further out than two years, then it simply does not exist. From the two-party point of view, problems for the people are opportunities for the parties to blame the other party for that problem when it happens. There is very little motivation in the two-party system to actually solve a problem because they fluctuate back and forth anyway, and they would be helping their opponents by leaving them a better economy. There was a study, I believe at Princeton, that studied how often and under what conditions consensus of the people for a particular action by the US government actually resulted in the government doing that thing. The short answer is basically never, but about 30% of the time purely by coincidence, they did. But it was not because the people wanted it, it was because what the people wanted and what big business wanted just happened to coincide. This is again back to the cycles because politicians' primary jobs are to raise money to run again. That money comes from business.
We need to innovate our way out of this feudal system of capitalism that has worked so well for the past 2 centuries but is breaking-down fast. As the need for human labor drastically and dramatically diminishes (and no new types of jobs seem to be appearing), one of the founding pillars of capitalism is collapsing-no one but the wealthy can afford to consume. How are we going to drive consumption when people no longer contribute to the production of goods and services, as production becomes a capital expense and operations are taken over by robots? Already, the number of layoffs is spiking and the job market is collapsing (and AI hasn’t yet hit), so figure it out, and quickly.
So, the fortunate few bying goods and services from ai bots while once working Americans do what, exactly? And how to pay for these job eliminations, should be discussed.
My licenses are coming out so a lot of these words are gonna have impacts later when people begin to realize how far I’ve been going sitting in that basement they all laughed about. I appreciate my furbearer’s consistent, desired to maintain their wealth and power and press me and everybody around us so that we could get stronger smarter better and faster and watch these shows where everybody’s freaking out that someone else is gonna do the same thing and that really scares them. If you guys really wanna achieve something fantastic, get a hold of Apple, and have them get contractors that can interpret dictation.
The automation in contrast to the industrialization differs in that industrialized people, had to learn to operate machines for a transformation to take place: whereas with the automation, machines are doing the learning.
People have to have a reason to exist…a purpose, a responsibility.. the path of capitalism to reduce labour from everything, belies the human condition
Robots and AI do not eat real food . They do not need to be entertained. Etc etc. Initially I think companies will embrace all of this tech. But in the end eliminate their own client base. No consumer no need to have automation. I think this will cause a revolution and cause a backlash against AI Tech and Robots.
I don't think having robotic or automatic robotic system to do the things needed to replace all human physical or mental work is hard. I think the fundamental issue is safety and legalities. The fact that these are new technology means that they have to do all of the safety and legalities from the ground up, and apply it to the world if not just a nation such as the United States. Also because you can't stop progress, it's simply has to be done within the time allotted, which for my understanding is about a year and a half to start and then maybe about 7 years afterwards to complete. Wow!
I don't think having robotic or automatic robotic system to do the things that you mentioned is hard. I think the fundamental issue is safety and legalities. The fact that these are new technology means that they have to do all of the safety and legalities from the ground up, and apply it to the world if not just a nation such as the United States. Also because you can't stop progress, it's simply has to be done within the time allotted, which for my understanding is about a year and a half to start and then maybe about 7 years afterwards to complete. Wow!
The disruption is balanced as any human can conjoin. Roger that? Tiny peek? I haven’t written everything yet… the future is gonna rock… and the old companies and countries no longer exist later. Sorry, has to be that way. Bigger, broader concepts are here, and the old ways will unravel rapidly. Enjoy🥂🏴☠️
I wouldn’t worry or concern myself about entrepreneurial disposition. I’d be more focused on what I’m doing for my grandchildren and their grandchildren. You see, that’s where I’m at … what I do personally today, under the ‘strange’ programs of the present, doesn’t mean one thing except accumulation of more objects that are defunct. Useless technologies that usually end up in the dumper about to come to be at a point where not one human in their logical mind would toss such a device so if you’re an entrepreneur, maybe you should get into dealing with garbage, rubbish, things that people throw away. He my words with true wisdom and no emotion and I just made one billionaire overnight. You’re welcome.
Listening to the Talking Heads today is like listening to people, crying and whining that all the pressure and oppression that they placed on the people that surrounded them with their businesses and their successes is about to disappear. You’re very lack of maturity and open minding this and actually being charitable beyond measure are the reason why you’re in this disposition and it will remain such there’s no stopping it now you have to adapt and overcome like the rest of the green berets you created out there who got stronger smarter better more efficient, and fought further. That’s business. 🥂🏴☠️🔥
I love how the bitcoin fundamentalist's have this religious faith in the algorithm and code. Because algorithms and code have never been broken or exploited.
We need to create a rapidly demurraging non-governmental digital currency to pay out a stingy UBI to people AND government. We can do it now (unlikely) or wait until we're deep in a jobloss crisis.
Again, I have a idea or a plan if you like that could solve most of the problems of not all of the issue of employment or the lack of viable employment in the age of abundance and possibly passed it!!! Now as many times I said this, that's not one person has ever asked me, what's my or the idea?😮 What am I missing?
@berylwatch Outstanding! I will get back in contact with you ASAP! This conversation with Mr Diamantis and Mr Dalio give me a few things to think about but as I believe the idea that I have is based on fundamental necessities it didn't spark any new considerations, I think. Either which way, real nice to meet you, and I guess it's interesting time to be alive.!!!
I need some help on Bitcoin folks. I get that the part of appeal is that there is a fixed # of Bitcoins in existence. However, can't you trade fractions of Bitcoins? And by basic math can't fractions be infinitely small? Hence there's an infinitely small amount of Bitcoin that can be traded and it's truly not a limited or restricted asset? Or is there a fixed fraction of a Bitcoin that can be traded? Open to input and to learn here.
Universal basic income it's not the problem. The fact that goods or services could be reduced to a price that is equal to almost zero$ is the problem. Money has certain attributes which includes control and regulation. How much something costs compared to how much money you make determines how much of it you're capable of will be willing to buy given your other expenses. If everything is free then how do you regulate how much of something's one person buys. And for certain things like even a car it wouldn't be a big deal but for food and medicine it might! That being said I guess it could be a first-come first-serve basis. But I have ideas again that I believe can for humanity to manage itself through the age of abundance, unnecessary employment, and zero cost for products and service. One last thing what is the incentive for people to be inventive for the benefit of humanity, without financial incentive.???? And they say a fat wallet can make an ugly person look pretty but😅 that's just one more thing we have to figure out?
Goods won't become free (if a UBI is created to rescue the capitalist economy) because owners of capital assets will want a profit, AND need to spend to maintain capital equipment. My very rough estimate is that prices on goods, with full automation that eliminates all labor costs, might fall as low as 20% of 2025 prices. If everyone got a UBI of $5K/yr (2025 dollars), that'd eventually be able to buy $25K in goods. (Capitalists would effectively be 5x richer.) Land prices wouldn't drop that much - making a suburban home unaffordable - but high-rise apartment rents might, with robots building them. Service prices might fall somewhat more, since most of their non-labor operating costs are for electricity (need more, but it's cheap) and rent on real estate for workers (won't be needed). Maybe 10% of today's prices.
What kind of true perspectives can a couple of billionaires truly have? They're not "on the ground" to report, so to speak. What will help? AI models? Perhaps. But as humans, the ability to understand the depth of the situation for most is just not there.
I think Ray is a pessimist because he lived in the money world. The world to come is going to be very different than i think he is expecting. This time is different lol.
He's a pessimist because he knows people. This time will absolutely be different, the problem is, we don't know if it will actually be better. At least for the average person alive today.
In the grand scheme of things it is never different as long as human greed for carbon goods doesn’t change. Unless this time silicone overpowers carbon based needs
Silicon valley is light years ahead of basically the rest of the planet (with the exception of china and any other country that has an advanced technology sector) and i truly dont think even somewhat aware citizens have even a fraction of a clue where the future (meaning the next 10 years) are going to take us...
Whether it’s complicated or not, you both seem to be under the impression that DOGE has as its goal the reduction of government spending, rather than solely to hand control of the government to Musk and company. Do you really believe that?
Taiwan is theirs to take. They're just using the island to get the technology that the United States has banned. If it were military, they could have taken Taiwan down 20 years ago.
We have an abundance of many things except for love for one another, and that in the end is the only thing that matters.
That may be because too many of us are taught from a young age, to ignore the suffering and violation of sentient life of non-human animals when we know eating their flesh and secretions is not necessary to a healthy lifestyle, making the idea of 'might makes right' proliferate even amongst our own species.
Love will not fill your stomach
i was thinking along similar lines. when AI creates absolute abundance, who will be the one to share it out to all of us. Is it abundance for all or only for some, or even more diabolical abundance for an elite class that controls our thinking and behavior with AI?
The distribution problem is my biggest worry about who will benefit from tech in then near future. For example, technically, we have enough food in the world for everyone, but that doesn't mean people aren't starving: they are.
These days, if someone is starving, mostly it's because someone WANTS them to starve.
We need some socialism. Redistribution of wealth is necessary to stop the hoarding of prosperity
People have to grow their own food,distribution is not the solution
Redistribution brings no incentives to grow your own food.
@@BRAZEN_Muse : no we need a new form of wealth production distributed system - with all due respect to your comment)
Socialism is obsolete in post digital interconnected world.
Instant like for Ray Dalio
Thanks Peter! Keep up the great work.
So my confusion is this: If AI is going to replace most middle-class jobs and the middle-class have the most buying power, and the working-class are going to be replaced by robots...who exactly are all the companies utilising AI and robotics going to be selling their products/services to? Peter asked a question something like this and Ray's answer was not clear at all...
No one knows. They talk about UBI, but no one says how it will work, not even the people creating this situation.
Doesn’t UBI require tax revenue?
the middle class and working class will be perpetual buyers via subscription models
Producing and selling products is only a means to an end. But it’s not the end. When we buy things, we’re really buying the cost of materials, time, and labor. The materials that go into the product or service we’re buying, and the time and labor required to arrange those materials into something we want.
That’s a simplified view, of course. There are also costs to deliver a product to market, among other things. And there are efficiency imbalances and economies of scale that work to both the buyers and sellers benefit.
But the point is, we are paying for materials, time and labor.
The reason this generally works is because we are also sellers. We sell our time and labor, so that we can buy time and labor.
But it’s not really time and labor that we want. It’s the thing that time and labor produces. So what if we could just skip the time and labor and move straight to the thing we want?
For most of us, that’s not possible because we don’t own the materials and our time and labor in an AI and automated world are overpriced and under skilled.
However, if you owned all of the materials and all of the labor, you wouldn’t have to buy or sell any of it. You could just build the thing you want.
In theory, you could transform the materials, time, and labor that you own into an entire city without ever having to involve another human being.
Would you rather build and sell something to a mass market repeatedly over a long period of time to eventually get what you want, or skip all of that and just build the thing you want?
This is why we are seeing a winner take all fight at the top, and unexpected cooperation among individuals with wealth and power. It’s quite possible there won’t be a second place. There will be those who own and control everything and then the rest of us.
@@jasonmillerxIn UBI there is a notion of universal
If one country does it it is not universal and in this case yes it will require it to be financed from any available revenue tax. Or from debt-based financing... problem not sustainable
I don't inderstand why humans can't think of a way to produce certified solution from the transformation process based on wicked problem ....
Humans are stuck in pre digital mindset... explaining - not solving
Fear-based trapped and caught in their approximative judgment which leads to externalities-based produced solution with Bell curve cycle.
Solution exists but ideology persists - nobody listen everybody wants to lead. And therefore we go nowhere.
Biology-based thinking : If you can't solve - no evolution (stagnation) - death- If you want to live you must solve : organic objective function of life.
If you fear to lose, your are obsolete.
If you want to keep your way of life at the detriment of other - you lose the game.
That is what interconnectedness is producing
Use AI in pre- digital mindset you will become the product of your own mind culture : outcome game over.
Use AI to produce what produce life: infinite game rules outcome.
If no understanding of this basic simple rule = game over.
Welcome to a New paradigm shift in constant evolution in the flow.
You wanted new advanced technologies right?
First learn to use it in silence of your own judgment because the future of economics is not based on former form of what we know in silo.
With all my respect.
I think our country has a fundamental problem. We (collectively) live in a dream world. We have allowed our media (also collectively) to weave this dream world at the behest of the government. We don't know up from down, friend from foe, good from evil.
We have also lost the capability to track cause and effect and to compare reality with our assumptions.
Here is an example: Food is abundant. Large numbers of people are obese. The reason large numbers of people are obese is that food is abundant.
In a vacuum, that can stand, but if I go to China, where food is far more abundant everywhere around you, much more affordable, and in vast variety, obesity is a tiny fraction of the US.
I would suggest that AI poses the possibility (in the next 10 years) of looking at a cycle even older than what Ray typically looks at. About 10k years ago, we invented money as a technology to allow the translation of the value of human work to all other humans. If you play out both sides of the tape on AI and then robots, you eventually get to a point where the value of human work trends to zero. I don't believe you can artificially support money, even real money, in the face of that. I also don't believe that companies, particularly public corporations, will be able to stop themselves from heading in this direction. At every point right up to the point where money no longer has value, they will be making more and more money.
You asked Ray at one point about why, given the historic nature of these cycles, why the politicians can't know that and account for it. This is where our particular political system is at a disadvantage because they operate in two-year cycles. Even those who are in office for 4 or 6 years, are still forced to operate on the 2-year cycle because they are not operating as individuals, but as parties. If the problem on the horizon is further out than two years, then it simply does not exist. From the two-party point of view, problems for the people are opportunities for the parties to blame the other party for that problem when it happens. There is very little motivation in the two-party system to actually solve a problem because they fluctuate back and forth anyway, and they would be helping their opponents by leaving them a better economy.
There was a study, I believe at Princeton, that studied how often and under what conditions consensus of the people for a particular action by the US government actually resulted in the government doing that thing. The short answer is basically never, but about 30% of the time purely by coincidence, they did. But it was not because the people wanted it, it was because what the people wanted and what big business wanted just happened to coincide. This is again back to the cycles because politicians' primary jobs are to raise money to run again. That money comes from business.
Cheap food with no nutritional value is abundant. Obesity is a form of malnutrition.
We need to innovate our way out of this feudal system of capitalism that has worked so well for the past 2 centuries but is breaking-down fast. As the need for human labor drastically and dramatically diminishes (and no new types of jobs seem to be appearing), one of the founding pillars of capitalism is collapsing-no one but the wealthy can afford to consume. How are we going to drive consumption when people no longer contribute to the production of goods and services, as production becomes a capital expense and operations are taken over by robots? Already, the number of layoffs is spiking and the job market is collapsing (and AI hasn’t yet hit), so figure it out, and quickly.
UBI here we come. 🎉
Or worsening poverty!
The rich are not going to pay the poor.
Denying, defending, deposing. Rage against the machine.
I always wanted to hear this talk: Macro investor vs tech VC worldview, how it's similar and different. Thanks.
So, the fortunate few bying goods and services from ai bots while once working Americans do what, exactly? And how to pay for these job eliminations, should be discussed.
Peter is constantly touting his health-
prolonging drugs and his life-extending lifestyle.
What makes you suspicious is his
actual appearance.
Lmao the man is 63 for crying out loud 😂😂😂😂 he looks about 50 give him a break
My licenses are coming out so a lot of these words are gonna have impacts later when people begin to realize how far I’ve been going sitting in that basement they all laughed about. I appreciate my furbearer’s consistent, desired to maintain their wealth and power and press me and everybody around us so that we could get stronger smarter better and faster and watch these shows where everybody’s freaking out that someone else is gonna do the same thing and that really scares them. If you guys really wanna achieve something fantastic, get a hold of Apple, and have them get contractors that can interpret dictation.
The automation in contrast to the industrialization differs in that industrialized people, had to learn to operate machines for a transformation to take place: whereas with the automation, machines are doing the learning.
The Spotify version of this has no audio for Ray
People have to have a reason to exist…a purpose, a responsibility.. the path of capitalism to reduce labour from everything, belies the human condition
Robots and AI do not eat real food . They do not need to be entertained. Etc etc. Initially I think companies will embrace all of this tech. But in the end eliminate their own client base. No consumer no need to have automation. I think this will cause a revolution and cause a backlash against AI Tech and Robots.
The question is, does this happen before they've saturated the world with robots that can take us out while we sleep?
AI & robots also don't pay taxes. Government intakes will drop significantly (unless they tax companies) just when unemployment rises dramatically.
I don't think having robotic or automatic robotic system to do the things needed to replace all human physical or mental work is hard.
I think the fundamental issue is safety and legalities.
The fact that these are new technology means that they have to do all of the safety and legalities from the ground up, and apply it to the world if not just a nation such as the United States. Also because you can't stop progress, it's simply has to be done within the time allotted, which for my understanding is about a year and a half to start and then maybe about 7 years afterwards to complete. Wow!
How long do you estimate it will take to develop a humanoid robot capable of cooking, cleaning, and performing other household chores?
I don't think having robotic or automatic robotic system to do the things that you mentioned is hard.
I think the fundamental issue is safety and legalities.
The fact that these are new technology means that they have to do all of the safety and legalities from the ground up, and apply it to the world if not just a nation such as the United States. Also because you can't stop progress, it's simply has to be done within the time allotted, which for my understanding is about a year and a half to start and then maybe about 7 years afterwards to complete. Wow!
The disruption is balanced as any human can conjoin. Roger that? Tiny peek? I haven’t written everything yet… the future is gonna rock… and the old companies and countries no longer exist later. Sorry, has to be that way. Bigger, broader concepts are here, and the old ways will unravel rapidly. Enjoy🥂🏴☠️
I wouldn’t worry or concern myself about entrepreneurial disposition. I’d be more focused on what I’m doing for my grandchildren and their grandchildren. You see, that’s where I’m at … what I do personally today, under the ‘strange’ programs of the present, doesn’t mean one thing except accumulation of more objects that are defunct. Useless technologies that usually end up in the dumper about to come to be at a point where not one human in their logical mind would toss such a device so if you’re an entrepreneur, maybe you should get into dealing with garbage, rubbish, things that people throw away. He my words with true wisdom and no emotion and I just made one billionaire overnight. You’re welcome.
Listening to the Talking Heads today is like listening to people, crying and whining that all the pressure and oppression that they placed on the people that surrounded them with their businesses and their successes is about to disappear. You’re very lack of maturity and open minding this and actually being charitable beyond measure are the reason why you’re in this disposition and it will remain such there’s no stopping it now you have to adapt and overcome like the rest of the green berets you created out there who got stronger smarter better more efficient, and fought further. That’s business. 🥂🏴☠️🔥
In the future, AI will decide who gets how much income, based on the impactfulness of ideas anindividual gives to AI as we interact with AI.
Also, there might be more than one dominant AI. AI wars anybody?
I love how the bitcoin fundamentalist's have this religious faith in the algorithm and code. Because algorithms and code have never been broken or exploited.
Find 99 ways to say we need socialism without saying it.
We need to create a rapidly demurraging non-governmental digital currency to pay out a stingy UBI to people AND government.
We can do it now (unlikely) or wait until we're deep in a jobloss crisis.
man describing for us usury
No more easy money. Gotta use your brain.
Again, I have a idea or a plan if you like that could solve most of the problems of not all of the issue of employment or the lack of viable employment in the age of abundance and possibly passed it!!!
Now as many times I said this, that's not one person has ever asked me, what's my or the idea?😮
What am I missing?
I'm interested....
@berylwatch Outstanding!
I will get back in contact with you ASAP!
This conversation with Mr Diamantis and Mr Dalio give me a few things to think about but as I believe the idea that I have is based on fundamental necessities it didn't spark any new considerations, I think. Either which way, real nice to meet you, and I guess it's interesting time to be alive.!!!
@@berylwatch -> Tom Bilyeu is a good man!
I need some help on Bitcoin folks. I get that the part of appeal is that there is a fixed # of Bitcoins in existence. However, can't you trade fractions of Bitcoins? And by basic math can't fractions be infinitely small? Hence there's an infinitely small amount of Bitcoin that can be traded and it's truly not a limited or restricted asset? Or is there a fixed fraction of a Bitcoin that can be traded? Open to input and to learn here.
100m parts in one bitcoin called a satoshi
When you ask in the comments instead of reading
Universal basic income it's not the problem.
The fact that goods or services could be reduced to a price that is equal to almost zero$ is the problem.
Money has certain attributes which includes control and regulation.
How much something costs compared to how much money you make determines how much of it you're capable of will be willing to buy given your other expenses. If everything is free then how do you regulate how much of something's one person buys. And for certain things like even a car it wouldn't be a big deal but for food and medicine it might! That being said I guess it could be a first-come first-serve basis. But I have ideas again that I believe can for humanity to manage itself through the age of abundance, unnecessary employment, and zero cost for products and service.
One last thing what is the incentive for people to be inventive for the benefit of humanity, without financial incentive.????
And they say a fat wallet can make an ugly person look pretty but😅 that's just one more thing we have to figure out?
Goods won't become free (if a UBI is created to rescue the capitalist economy) because owners of capital assets will want a profit, AND need to spend to maintain capital equipment.
My very rough estimate is that prices on goods, with full automation that eliminates all labor costs, might fall as low as 20% of 2025 prices.
If everyone got a UBI of $5K/yr (2025 dollars), that'd eventually be able to buy $25K in goods. (Capitalists would effectively be 5x richer.)
Land prices wouldn't drop that much - making a suburban home unaffordable - but high-rise apartment rents might, with robots building them.
Service prices might fall somewhat more, since most of their non-labor operating costs are for electricity (need more, but it's cheap) and rent on real estate for workers (won't be needed). Maybe 10% of today's prices.
What kind of true perspectives can a couple of billionaires truly have? They're not "on the ground" to report, so to speak.
What will help? AI models? Perhaps. But as humans, the ability to understand the depth of the situation for most is just not there.
I think Ray is a pessimist because he lived in the money world. The world to come is going to be very different than i think he is expecting. This time is different lol.
He's a pessimist because he knows people.
This time will absolutely be different, the problem is, we don't know if it will actually be better.
At least for the average person alive today.
In the grand scheme of things it is never different as long as human greed for carbon goods doesn’t change. Unless this time silicone overpowers carbon based needs
Ray is great but really doesn’t seem to understand Bitcoin
He certainly doesn't understand how to store and use it -- if he thinks the govt (govt's) track every satoshi.
Silicon valley is light years ahead of basically the rest of the planet (with the exception of china and any other country that has an advanced technology sector) and i truly dont think even somewhat aware citizens have even a fraction of a clue where the future (meaning the next 10 years) are going to take us...
Whether it’s complicated or not, you both seem to be under the impression that DOGE has as its goal the reduction of government spending, rather than solely to hand control of the government to Musk and company. Do you really believe that?
Let history decide, as Ray says we can only see the current.
But what if china take Taiwan, and a embargo on every good's on USA, no electronic, no drones, etc...
Taiwan is theirs to take. They're just using the island to get the technology that the United States has banned. If it were military, they could have taken Taiwan down 20 years ago.