Here's some dystopian-type labor market shit (#1463052) I don't want to be a part of:

(lesbehonest: that currency will be denominated in sats, but whatever...Money Stuff is a tradfi newsletter)

You could sort of imagine a Jane Austen-y early-19th-century economy, with AI as the farm workers doing the economic activity and humans as the aristocratic rentiers who own land and earn 5% in perpetuity.

More like 4% during the twenty-odd years Austen was writing, but who's counting.

There are other approaches — “everyone should buy stock in the AI buildout,” for instance — but the rentier approach has a certain simplicity. Who knows which AI model or harness or end user will ultimately capture the upside from AI? Whatever it is will probably need chips, though, so there’s a steady living to be made from renting out chips.

we all need a retirement account of diversified AI stocks so we're all part of the AI landlord-rentier class.

I must say that the two main dynamics I write about are “we should invest everyone’s retirement savings in AI infrastructure” and “we should invest everyone’s retirement savings in sports gambling,” and only the first one has some actual economic logic to it.The point of investing is to own a share of future economic productivity. If a big share of future economic productivity might happen on computer chips, you might as well own chips.

NVIDIA partners with a who's-who of private capital high finance to raise $500bn(!) for AI infrastructure. No clue whatfor and wherefrom but whatever.

A major theme in financial markets over the past few years has been the rise of “privates,” and the push to put retail investors’ savings into private assets. Sometimes this means selling private funds to retail investors in their retirement accounts; other times it means selling them annuities or life-insurance products or pensions that invest in private assets.

Anyway, what's up with that dystopian world?Anyway, what's up with that dystopian world?

What I keep thinking is that there'll be an increasingly segregated (real? #1520572) economy where people will pay premium to deal with humans. Human labor's scarcity value is being human... a thing other humans like moreso than Chatbots and automated robots. #1470476 #1488323

In this very small sliver of things is Marx correct (work, alienation, meaning)... #1533284, #1540851, we take pride in what we do, need a purpose and a way to be meaningfully productive and beneficial to our fellow man.

So we won't all just sit around and be boring aristocratic rentier classes while the machines do our dirty work for us.

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