I don’t think this argument is sound in general, no. GPT-4 may have only arrived a few months after ChatGPT-3.5, but it’s economic impacts will also unfold over the same next however many years. I don’t think it will take longer than adapting to just ChatGPT-3.5 would have. Only that impact will be greater, and no one in the meantime will have invested (wasted?) money on procedures and infrastructure adapting to less capable tools first.
I think there are versions of similar arguments that are sound. If you gave the ancient Romans a modern tank or a solar panel it would be useless to them, there’s too many missing pieces for them to adapt to it at all. But if you want back to 1960 and gave NASA a big crate of TI-89 calculators, well, they knew math, they knew programming, and they had AAA batteries. It could have been a big help pretty quickly. A crate of laptops would probably be more helpful, and take a bit longer to adapt to fully, but I still think they’d start getting benefit almost right away.
The economy, in general, adapts much slower than it in principle could to new technologies. Usually because no one forces anyone’s hand, so the efficient route is to keep using old tech until it’s time to replace it. Emerging economies adapt several times faster, because they know what they’re trying to catch up to. IDK where the adaptation frontier for LLMs would be, exactly? Or how that changes as capabilities increase.
Done!