Future of Currency and AI Impact

the future look like?

Yeah, money becomes irrelevant. Uh, I mean, th- th- th- there,

there will be still

a currency, but I think currency will be measured in

fundamental, uh, physics

metrics like,

um,

po- you know, power, like wattage and tonnage,

ma- mass and energy.

Or, you know, mass and power or energy, basically.

So,

um,

th- th- but conventional currency will not matter

in, in the future.

Uh, so that- that's, that's, uh, that's my guess. I,

I think it's pretty obvious.

Um, and, uh, and, and as soon as you start getting to many

orders of magnitude

bigger than, than Earth's economy,

um, satisfying whatever humans can possibly

think of, uh, for their

needs is, is very easy. You know, if you're several orders of magnitude

bigger than the Earth- Earth's economy, um,

then

providing humans wh- whatever goods and services they can think of

that they might

want, uh, is, is trivial.

And so what do we do then

as humans?

What gives us meaning? How do we organize ourselves?

I mean, I do struggle with this question.

I think people will, will, will find

w- ways to be happy, uh, in the, in the same way that, say, r- r-

people who

retire seem to be rela- you know, fairly happy even though they're not

working.

But I think the reality is that you w- humans will not...

there won't, there won't be anything that humans can do that, that the,

the AI and

the robots can't do better. One

analogy might be

gardening, you know, where you, you, you don't have to grow your own

fruits and vegetables. You can just go buy them from the store.

But, uh, sometimes people like to grow their own

fruits and vegetables and

make dinner for friends, and it's, uh, kind of a nice touch.

Uh-

What about creating art or that type of creativity?

Is that more in the sphere-

Sure

... of humans?

Yeah, you could certainly create art or

whatever you feel like doing essentially.

We like to think of this as a time of unprecedented technological

change. But, you know, we historians go back to the 1890s

when you get

electricity and telephones and cars and, you know,

subways and, uh, radio and movies,

all these things happening at once.

And it leads to many things, but it al- often leads to a

great disparity of wealth, a lot of sense of robber barons,

a lot of people

then picking up pitchforks and deciding that this is bad,

and there's some echoes of that now.

Is there a way to prevent that, given the amount of

wealth being generated? Will we put certain things in the

commons the way they did in the 1890s when they make high school

universal and free? Will we say, okay, healthcare, for example,

should just be in the commons, and that's gonna sap some of the

populist revulsion at what's happening?

Well, um,

uh, I mean, as, as you heard me say, I mean,

I don't think money's gonna matter in

the future. Um,

it, it... like anyone will be able to have any goods

and services that they want,

and I don't think even so-called wealthy people will ultimately control

the AIs. I think they'll control themselves.

So, so it's not like

you have to separate,

uh... like, like the, I think the, uh, sort of a fundamental

misunderstanding of economics arises because of conflating

resource allocation and consumption.

So there's, there's, there's a limit to what any single human

can consume.

It's, it's, it's, you know, you hit that saturation point pretty fast.

So like, say, going from, say,

a billion dollars net worth to 10 billions dollars n- of net worth doesn't make you

10 times happier or have meaning or have 10 times more stuff.

It actually means you've got a resource allocation b-