I think it matters bc AIs won’t be able to save any money. They’ll spend all their wages renting compute to run themselves on. So it blocks problems that stem from AI having more disposal income and therefore weighing heavily on economic demand signals.
This doesn’t make sense to me, and sounds like it proves too much—something like “Corporations can never grow because they’ll spend all their revenue on expenses, which will be equal to revenue due to competition”. Sometimes AIs (or corporations) will earn more than their running costs, and invest those in growth, and end up with durable advantages due to things such as returns to scale or network effects.
In the absolute Malthusian limit AI won’t earn more than its running costs and can’t save. So if we expect AI wages to approach that limit, that seems like a strong reason not to expect that humans will keep more money than AI
But yeah, wages probably won’t be completely up against that limit in practice, as for humans throughout history. But i think it might be pretty close
Hmmm, maybe we got mixed somewhere along the way, because I was also trying to argue that humans won’t keep more money than AI in the Malthusian limit!
This doesn’t make sense to me, and sounds like it proves too much—something like “Corporations can never grow because they’ll spend all their revenue on expenses, which will be equal to revenue due to competition”. Sometimes AIs (or corporations) will earn more than their running costs, and invest those in growth, and end up with durable advantages due to things such as returns to scale or network effects.
In the absolute Malthusian limit AI won’t earn more than its running costs and can’t save. So if we expect AI wages to approach that limit, that seems like a strong reason not to expect that humans will keep more money than AI
But yeah, wages probably won’t be completely up against that limit in practice, as for humans throughout history. But i think it might be pretty close
Hmmm, maybe we got mixed somewhere along the way, because I was also trying to argue that humans won’t keep more money than AI in the Malthusian limit!