Comment by Culonavirus 2 days ago
> The human is reduced to the ultimate consumption machine.
Question is, if the AI bros are right about a "new industrial revolution", will there be consumers to consume if all the wealth is concentrated in the top 1-2% of the population? (the owners of AI hardware and software)
The answer is already in your question. The original Industrial Revolution concentrated wealth and yet increased the baseline wealth for everyone else.
There is no reason to believe otherwise in this revolution.
Though for those of us above the current baseline (e.g. basically everyone reading this), it’s not guaranteed that the new baseline will be above our current lifestyle.
Why? Industrial Revolution increased everyone’s baseline
If you’re a software bro making $300k today, and lose your job to AI, it’s very unlikely that the new baseline for everyone is going to be that of a $300k income. At least not anytime soon.
Question is, if the AI bros are right about a "new industrial revolution", will there be consumers to consume if all the wealth is concentrated in the top 1-2% of the population?
Who cares? That's two quarters away. What matters is that I got my Lambo and my speedboat today. Let the poors worry about the future.
If that happens it won't be the AI people who benefit. The wealth will be concentrated among the present capital owners. Even many top AI experts who contributed critical research won't become rich.
You'll see the wealth concentration you talk of, but it'll be completely different people who get this wealth, maybe even people who own businesses where wages are a large outlay.