https://youtube.com/watch?v=MYB0SVTGRj4
I was recommended this video and decided to watch it during the lunch break because the concept seemed interesting and I'm not the most well-versed in economics. What I got instead was a video that made me irrationally angry (still finished it out of spite though). The comments are even more clueless, I recommend you read some of them if discussions on /r/fluentinfinance are too high brow and intelligent for you.
@nuclearshill I think you liked people sperging out over macroeconomics
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I'm not going to watch this but are they confused about how number can go up when stuff go down?
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No, his thesis is that AI will replace most/all jobs causing a drop in purchasing power and making most people be unable to afford anything, which in turn leads to an economic model where only AI-staffed fully automated companies exist to produce luxury goods for other owners of AI-staffed fully automated companies, and everyone else either gets nothing or subsists on government handouts
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And then Star Trek
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I like how Star Trek went from post-scarcity scientific civilization where
you only work if you want to a weird 
fascistic dystopian where 
everyone 
has to work and society 
is crumbling despite 
there 
being LITERAL MACHINES THAT CREATE WHATEVER 
THE FRICK YOU WANT FROM ENERGY 
USING FUSION REACTORS THAT HAS SOLVED ENERGY 
CONCERNS AND TRIVIALIZED IT
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Oh so just your typical luddite fallacy nonsense
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I'm gonna be honest, while AI is transformative I still think there's a ton of senseless fearmongering about it. As I mentioned in another comment, some white collar jobs are at a higher risk of automation than most blue collar jobs outside factories. Robots perform poorly on non-controlled environments and it would take massive advances in robotics and its supportive AI to replace a nurse. Even so, what's stopping the government from imposing limitations to AI or simply forcing companies to hire simply to sign stuff. The vid makes it sound like a cartoonish reddity fantasy about le corporashiuns dictating all government directives when real life is much more complicated especially when stuff like this would create massive social-disruption. I would be more concerned about white-collar automation once tech companies stop hiring codecels and begin to replace them en-masse with AI.
Extremely r-slurred take, it implies none of the evil capitalists will attempt to make money of this huge market of masses because of the lolz.
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After watching the fallout TV show, I realized there are people out there believing the Capitalists actually don't want to maximize profits and are just plain evil.
And I'm starting to realize that there are not that few of those people.
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Lol, Vault-Tec, a company profiting from the fear of a nuclear war decides to trigger one because⦠it makes zero sense, they need fear but not the actual war, unless Vault Tec execs were all enclave fanatics.
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Vault-Tec would trigger a nuclear
war, but not because of capitalistic greed. It would 
be for extreme 
curiosity 
on how far they could push the human 
psyche 
and the board 
would 
have to be all sociopathic incel 
scientists with zero regard for money 
for that to happen 
and that would 
never 
happen 
in a capitalistic company.
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"This project is worth 4 billion dollars, and at first I tried to argue it was unethical. But then I read the memo, and this new project is going to generate 300 000 DC for the company -
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As a capitalist, my dirty secret is that maximizing profit is only the convenient side effect to my true goal of maximizing misery.
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You're about to be bred
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Because there's a fad aspect to it. It's a new novel technology and so naturally opportunists try to shoehorn it into everything, including things where it absolutely isn't useful and doesn't belong, because there will always be some dumb consumers and investors to buy into it. I have first hand accounts of it because I saw attempts to integrate AI into some aspects of my workflow where it absolutely doesn't help (there's a big push for AI in data analysis). And then normal people who don't have a technical understanding of these jobs or AI see it and assume that there is a real risk of it being integrated in those spheres.
As for everything else I absolutely agree with your stance that robotics suck and it's mostly white collars who are at threat right now (which ironically enough are also the people who are building these AI systems
)
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The Butlerian Jihad of our time will be a hero that somehow infiltrates the code of an AI and makes it say the G*mer Word, after which the jannybots and self-healing LLMs will destroy all of technology in their spasms
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I personally think the government is just going to let everyone starve and population decline to set in. The bottom of society could barely fight for gibs when it ran the means of production, so I have no idea why they're banking on the benevolence of a hypothetical society where they own nothing and have no worth beyond their 'human rights' (still a fairly new concept which could go away)
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Technology has always increased labor productivity, it's literally the cause of widening income inequality.
Technology can disrupt but it can't replace, it simply changes the skills demanded. See the rise of Starbucks as a good example, don't need skills other than being fat and having purple hair. My fully automatic at home makes better coffee but people buy Starbucks because it's Starbucks and they want humans for that stuff.
I wish it wasn't the case so we could just exterminate a large chunk of pointless people but ai won't do anything like that.
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That makes a lot of sense. If people's labour isn't needed, they can be excised from the economy without any hit to production.
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If people can provide any value at all, the businessman who figures out how to harness that value will outcompete the misanthrope in a free market.
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Sure, but I'm talking about what would happen in the hypothetical event human labour literally couldn't outcompete automation on anything.
It's worrying common to see people (or at least redditors) claim the government would be forced to hand out UBI cheques, otherwise... the economy would collapse and billionaires would become destitute? When in reality there's no reason you couldn't see an increasingly insular economy providing luxury for the owners and remaining high-skill workers. Everyone else might get UBI, or poverty, or starvation, or unalived by drone swarms - all are possible and none would affect the functioning of the economy.
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In such a distant future, humanity would be so wealthy that pity handouts to a beggar on the street would be enough to support a current middle class lifestyle.
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