Impact of AI on Human Capital

You don't really want to make money by being talented and working hard.

That sounds pretty provocative, but the problem

is the robots are going to work hard.

The cars are going to drive themselves, and once you train the AI

on a Shakespearean sonnet, the AI will spit back Shakespearean

sonnets just as good as Shakespeare in his prime.

And so if you went to school and

studied for 20 years to be able to compose Shakespearean

sonnets and great prose, that's getting to be less and less valuable.

Just like being able to compose a 100 page Last Will and Testament.

That used to be valuable.

Maybe that's still valuable for the next five years, but sometime this decade,

you're going to say to the AI, hey,

just compose an entire network of trust and wills

for my entire family and then optimize it for which tax jurisdiction? You tell me.

OK, well, give me 16 of them. Now implement it.

And it's all going to happen for 10 bucks.

And it used to be that I'll cost you 10 million.

So hard work and talent are getting...

human capital is getting demonetized.