Yes. Though both are accelerating.
Not inflating $1T this decade, more like $10T.
Not automating servers this decade, more like everything.
Inflation partially drives automation, by funding disruption. And automation partially drives inflation, via demand for redistribution.
Not inflating $1T this decade, more like $10T.
Not automating servers this decade, more like everything.
Inflation partially drives automation, by funding disruption. And automation partially drives inflation, via demand for redistribution.
https://twitter.com/ericreasons/status/1450282545778728961
The feedback loop goes like this:
Print more money
Some goes to investors, who fund automation
Some goes to workers, who resign
Labor is scarce, tech is abundant
Employers digitize more, automate more
Less need for old forms of labor
Demand for redistribution
Print more money
Print more money
Some goes to investors, who fund automation
Some goes to workers, who resign
Labor is scarce, tech is abundant
Employers digitize more, automate more
Less need for old forms of labor
Demand for redistribution
Print more money
This feedback loop causes us to eventually exit the 20th century economy towards robotics, but in an extremely messy way.
If we can make it to the other side, because automation deflates prices, many more will be able to live off dividends from investing.
If we can make it to the other side, because automation deflates prices, many more will be able to live off dividends from investing.
https://twitter.com/balajis/status/1308430095460134912
Add to this the BTC/USD dynamic, and we are in for an even more intense combo of tech-driven deflation and state-driven inflation than the 2010s. Btw, buy Bitcoin.
https://twitter.com/balajis/status/1159880951360393222
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