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I totally agree that capital will matter more than ever after AGI, however, there is a big difference in what society looks like if AI facilitates a centralized winner-take-all dynamic or if it supercharges millions of small businesses to compete in markets that were previously out of reach. My hope is that the industrial era framing of the economy as a struggle between labor and capital will slowly lose relevance. In Q2 2024, 8% of national income fell into the category of “mixed income” or “proprietor’s income”—a category that blurs the lines between earnings from labor and returns on small business capital investments. (If you're interested, I further explore these ideas on my substack https://strongai.substack.com/p/my-son-wont-have-a-job-and-thats)
I totally agree that capital will matter more than ever after AGI, however, there is a big difference in what society looks like if AI facilitates a centralized winner-take-all dynamic or if it supercharges millions of small businesses to compete in markets that were previously out of reach. My hope is that the industrial era framing of the economy as a struggle between labor and capital will slowly lose relevance. In Q2 2024, 8% of national income fell into the category of “mixed income” or “proprietor’s income”—a category that blurs the lines between earnings from labor and returns on small business capital investments. (If you're interested, I further explore these ideas on my substack https://strongai.substack.com/p/my-son-wont-have-a-job-and-thats)