Tootfinder

A news-report about the AI economy that fell through a time tunnel from two years in the future.
We probably could have figured this out sooner if we just asked how much money machines spend on discretionary goods. (Hint: it’s zero.)
AI capabilities improved, companies needed fewer workers, white collar layoffs increased, displaced workers spent less, margin pressure pushed firms to invest more in AI, AI capabilities improved…
It was a negative feedback loop with no natural brake
.
Fake-news, obviously. It's from the future. Just a story. A scenario. Interesting possible way the bubble could pop even if the claimed efficiency gains are real.
#ai #economics #notMyGDP