Elon says money won’t matter. Did he lie? #Elon #Economics #technology #ai

Elon says money won’t matter.. Did he lie? when I saw that podcast it was absolutely absurd I thought it was a preposterous thing to go up in good faith and try and argue okay so I'm just gonna decompose the central tenet that we're gonna have the abundance of everything hey what what we're actually I'm sure we are gonna see is we are gonna see the abundance of certain goods and services as a result as you say of the humanoid robots and of knowledge work that becomes abundant is and is able to produce things on a much wider scale to become more affordable right um where I just think there's such an enormous hole and floor in this argument is really thinking about the stratification of the economy what we will actually see is on aggregate prices may reduce and we may see some deflation and as these kind of often western economist look at it aggregate outcomes are great and fine you know because things are getting cheaper you know incomes of you know real incomes are actually increasing as a result right but what have we also in that same breath said we've said that we're gonna see some job displacement and we said that we're gonna see wage deflation right so if we take those as accepted outcomes of what we're about to see that's not gonna be distributed equally right if you're in a sector that is more you know replaceable by a by a robot or even by an AI knowledge worker you you it may be that on aggregate prices are reducing but if you got no wages there's still scarce resources out there I haven't seen a compelling argument that an AI is gonna be able to solve the scarcity of land that we have in the major cities in order to build you know abundant affordable housing within the next 5 to 10 years I don't see that happening