Isn't this why this statement should be taken seriously?
But your statement implies the opposite, which is to ignore Larry Fink's warning. That appears irrational.
Until housing is solved the wealth divide will continue to grow whether ai lives up to expectations or not. Higher wealth taxing funding UBI etc. will be largely ineffective without solving housing.
All this new fangled talk about ABUNDANCE yadda yadda I find quite silly. We already live in abundance, most jobs for instance already pay very livable wages for example. It's just not livable because of mainly housing (& more broadly renting & land prices)
This is obvious and not an insight. The question is if people like the executives of Blackrock will agree to be taxed more heavily, to draw regulations to make competition more fair to small business, etc. Right now I don’t see anything useful happening.
The majority of households in the US have no savings of any kind and rural suicide rates have jumped by nearly 50% in the last 25 years. Y'all have just about backed everyone into a corner already.
And that’s just the U.S. - inequality there is comparatively low compared to an awful lot of the world. Brazil, for instance, is just nuts, and resultantly spends a lot of its time teetering around a political sinkhole.
Unfortunately, it’s been the outcome of every system we’ve yet tried - wealth always accumulates. It has, so far, only been redistributed through violence - either direct action by the proletariat, or their mass slaughter in war, allowing redistribution amidst the survivors.
I’d love to imagine that this time we can find a different path, but ten millennia of precedent is a hard trend to buck.
I mean this is basically the foundation of any cyberpunk novel. You don't need to read that far ... just look at the works of Gibson, Neal Stephenson, Philip K. Dick and Richard Morgan.
From Neuromancer and Snow Crash to Altered Carbon the theme is that technology is not salvation but as another axis of inequality.
Says the man who actually widens the wealth divide. One of the biggest global risks right now is Larry Fink being out of prison.
Isn't this why this statement should be taken seriously? But your statement implies the opposite, which is to ignore Larry Fink's warning. That appears irrational.
Until housing is solved the wealth divide will continue to grow whether ai lives up to expectations or not. Higher wealth taxing funding UBI etc. will be largely ineffective without solving housing.
All this new fangled talk about ABUNDANCE yadda yadda I find quite silly. We already live in abundance, most jobs for instance already pay very livable wages for example. It's just not livable because of mainly housing (& more broadly renting & land prices)
Here is the letter if you want the primary source: https://www.blackrock.com/corporate/literature/presentation/...
And if you dont want to read, here is the hourlong audio: https://www.blackrock.com/corporate/investor-relations/larry...
Those looking for a deep explanation, this isnt as much about AI as it is about societal participation in prosperity.
Well, he'd know I guess.
It's almost like they are about to rediscover taxes.
This is obvious and not an insight. The question is if people like the executives of Blackrock will agree to be taxed more heavily, to draw regulations to make competition more fair to small business, etc. Right now I don’t see anything useful happening.
doesnt larry fink need a bailout
The majority of households in the US have no savings of any kind and rural suicide rates have jumped by nearly 50% in the last 25 years. Y'all have just about backed everyone into a corner already.
And that’s just the U.S. - inequality there is comparatively low compared to an awful lot of the world. Brazil, for instance, is just nuts, and resultantly spends a lot of its time teetering around a political sinkhole.
https://en.wikipedia.org/wiki/Gini_coefficient
Unfortunately, it’s been the outcome of every system we’ve yet tried - wealth always accumulates. It has, so far, only been redistributed through violence - either direct action by the proletariat, or their mass slaughter in war, allowing redistribution amidst the survivors.
I’d love to imagine that this time we can find a different path, but ten millennia of precedent is a hard trend to buck.
That's all the proof you need they'll try to draft them into a kinetic ground war with Iran. It's better to burn out than to fade away.
Legalize debt for all and all are in debt. Strange and surprising.
I mean this is basically the foundation of any cyberpunk novel. You don't need to read that far ... just look at the works of Gibson, Neal Stephenson, Philip K. Dick and Richard Morgan.
From Neuromancer and Snow Crash to Altered Carbon the theme is that technology is not salvation but as another axis of inequality.
Yes, we were warned. It turns out we are not good at heeding warnings, at all.