What if.. the VC’s, the big money decides pervasive unemployment is the price we pay for AI, super intelligence, higher efficiency/ productivity, etc…
This is the the thought occurred to me, and somehow I could not shake it.
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Do you think the VC profits will be taxed heavily to pay for retraining? Or unemployment benefits?
All those profits from improved AI productivity looks very attractive to the tax man.
Hey, those masses unemployed implies a whole new world. How will they spend their time? Making mischief? In politics? Complaining? Homeless? Living in Hoovervilles? On the streets?
NO. US system will not tax rich appropriately. If you are thinking windfall profits, no it will not happen either. The government may borrow to pay some benefits, but will not tax the rich, of their excess profits.
Within VC circle, first they talked in coded words, now they are openly spelling it out, “If AI causes mass unemployment, so be it. We cannot pay unlimited unemployment for folks to sit in beach… deport illegal immigrants and make these people work in fields, they have to earn their money, even to be eligible for govt assistance”.
How exactly it will be received by Joe sixpack, I don’t know. But Joe sixpack have fought for the rights of rich folks than their own welfare in the past… so…
When I said, “NO”, I don’t want you to think I am a dyed-in-the-wool progressive. Here is my reason, Peter Thiel backed Trump out of SV before anyone, and he literally hand picked JD Vance… We all know about Elon, the richest man in America, Going to come out with a Trillion $$ IPO, David Sacks, who was AI czar, all these guys are “Paypal Mafia”… the entire SV VC community is now trump supporters.
They can easily spare a billion to promote any of their candidate… so nothing is going to happen that will take their “hard-earned” money…