The demand led productivity gains assume they are shared somehow back to "many"
They don't. The owner of the tech aggregates and he (usually male) buys a bigger house closer to the harbour or a beach.....or hires PWC to pay little or no tax ....
I've just seen a process where $1.50 per unit cost has been reduced to 1c or less by chatgpt . A few days of investment to build.
None of those displaced will be able to spend more.
They will starve.
** The guys who built this tool can't even explain how chatgpt was able to do this..."it just did" .....
The demand led productivity gains assume they are shared somehow back to "many"
They don't. The owner of the tech aggregates and he (usually male) buys a bigger house closer to the harbour or a beach.....or hires PWC to pay little or no tax ....
I've just seen a process where $1.50 per unit cost has been reduced to 1c or less by chatgpt . A few days of investment to build.
None of those displaced will be able to spend more.
They will starve.
** The guys who built this tool can't even explain how chatgpt was able to do this..."it just did" .....
I fear your vision of the future might be a bit closer to reality than Mr Andreessen's sunny outlook, Scott!
PS - Good to hear from you, hope you and your good lady wife are enjoying the UK