Futurology

The AI Investor hype bubble always seemed ultimately doomed. AI will be profoundly deflationary, and will likely lead us to end up dominated by a very different economic system than today, with a far smaller role for capitalism, stock markets, and investors.

This article is interesting as it neatly illustrates the schizophrenia at the heart of the AI investor worldview. On the one hand, it berates people who made claims that 300 million jobs would be automated - because they've failed to live up to that "promise" to AI investors fast enough.

What you never see is anyone joining the dots, and asking what sort of economic model society will evolve to when job automation is at that scale. (Hint: It probably won't have much room for high stock market or property prices, or prosperous investors).