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0 pointsthe_bear5mo ago0 comments

This is the main thing that's been bugging me about the AI discussion. People seem to forget that capitalism is competitive, and if everyone gains the same advantage, then it's not an advantage. If the cost of labor goes down, it means companies will either need to lower their prices or increase their investment in other areas (e.g. hiring even more people now that they're cheaper).

Unless you're a monopoly, I don't see how AI will lead to these massive cost savings everyone is hoping for.

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JumpCrisscross5mo ago

> Unless you're a monopoly, I don't see how AI will lead to these massive cost savings everyone is hoping for

"If the cost of labor goes down" and "companies...lower their prices," that means cost savings for every one of their customers. If they "increase their investment in other areas," that means lower costs of capital for all of their investments.

You're arguing that the gains from AI don't look likely to be concentrated. That's good! It's not an argument that AI won't be economically revoluationary (and value adding).

j / k navigate · click thread line to collapse

0 pointsthe_bear5mo ago0 comments

Unless you're a monopoly, I don't see how AI will lead to these massive cost savings everyone is hoping for.

0 comments

JumpCrisscross5mo ago

> Unless you're a monopoly, I don't see how AI will lead to these massive cost savings everyone is hoping for

You're arguing that the gains from AI don't look likely to be concentrated. That's good! It's not an argument that AI won't be economically revoluationary (and value adding).

j / k navigate · click thread line to collapse