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For Silicon Valley, AI isn’t just about replacing some jobs. It’s about replacing all of them

"...I recently found myself at a dinner in an upstairs room at a restaurant in San Francisco hosted by a venture capital firm. The after-dinner speaker was a tech veteran who, having sold his AI company for hundreds of millions of dollars, has now turned his hand to investing. He had a simple message for the assembled startup founders: the money you can make in AI isn’t limited to the paltry market sizes of previous technology waves. You can replace the world’s workers – which means you can capture their salaries. All of them...."

theguardian.com/commentisfree/…

#AI #aipocalypse #capitalism #jobs #labor

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in reply to AI6YR Ben

@AI6YR Ben What infuriates me the most about this view is that the end goal is completely nonsensical. Great, you captured all the salaries, now what? Who's going to buy anything from your company? Or buy your AI-powered robots? And of course, in the process of trying to reach this nonsensical goal, very real harm will be done.
in reply to AI6YR Ben

Too bad he didn’t really cover the “less generous” outcome — the real goal. The murder of people who these tech bros don’t think are worth existing in a post-work world. Anyone who believes they are going to give up any of their wealth to fund some kind of “universal basic income” is out of their minds…

Their goal is Solaria. #IYKYK

Questa voce è stata modificata (6 mesi fa)
in reply to Dave Spector

@Dhmspector Yep, no freaking chance of UBI, IMHO. I suspect I know the same folks referred to in this article (investors) and they're not even going to give you one cent if you're not "economically important" to their own companies.
in reply to AI6YR Ben

But, where will their money come from if all the people are dead or starving?

Where do they think value (exchange value) comes from?

Unknown parent

mastodon - Collegamento all'originale
Finitum
@GhostOnTheHalfShell entirely not enough social/public derision applied to end times weirdos that want us all to die for some reason.
in reply to AI6YR Ben

*Sigh* I worked with these jerks for years and got a whole TEDtalk about the psychology of this level of arrogance.
in reply to AI6YR Ben

I've been saying for years now that employers resent everybody who makes more than $0.

If you're not already a literal slave, they are actively looking to render you unemployed. It was never about self checkout or whether the minimum wage was too high. It was always about American businesses deeply resenting the end of chattel slavery.

We've never collectively figured out how to run a business that pays labor for what it's worth.

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in reply to Urzl

@gooba42
Worker owned businesses help. Find some, use them, frequent them.

Businesses with lords who must be obeyed are not necessary. Businesses with mutual respect run well.

@Urzl
in reply to Kevin Russell

@gooba42
Wouldnt it be fun if a side channel like worker owned businesses suddenly flourished and mutual respect became the path past fascism?

______

Find a Worker Co-op

This directory is a joint project of the U.S. Federation of Worker Cooperatives and the Democracy at Work Institute.

usworker.coop/directory/

#coup #coop #lord #musk #trump #dems

in reply to Kevin Russell

@kevinrns @gooba42 The fastest route to getting there ("fast" is relative) would be through Baby Boomers selling their businesses to their workers. This is quite possible, and there are case studies, but we could have vastly more.
in reply to Stephen Dioxide

@Steve @gooba42
There have been several just as you describe. Instead of selling on retirement several people have transferred ownership to workers.
____

"Founder gifted entire $100,000,000 company to employees after refusing to sell to corporations"

Bob's Red Mill Flour

unilad.com/news/money/bobs-red…

Questa voce è stata modificata (6 mesi fa)

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in reply to Kevin Russell

@kevinrns @Steve We need that to become the default.

Too many owners take all the value with them when they leave.

in reply to Urzl

@gooba42 @Steve
Better, start your company as a worker cooperative. Don't "look for work" create a worker owned business.
in reply to Kevin Russell

@kevinrns @gooba42 Each way has its pros and cons. Starting a co-op from scratch gives the workers control at all points in its development. Converting a business to a co-op maintains continuity of an established local business.

ESOPs don't interest me, nor do "B corps."

in reply to Kevin Russell

@kevinrns

Yes.

"Public" corporations are "owned" by shareholders so there is no single owner to retire and leave it to workers.

And even private owners are under pressure to leave to family heirs.

Corporate law and tax structures are designed to encourage that.

@gooba42 @Steve @ai6yr

in reply to Eric Lawton

@EricLawton @kevinrns @gooba42 This is true, but I've been told on multiple occasions that would-be heirs are not showing much interest in taking over the family business, for an assortment of reasons. That leaves three possibilities: shut down entirely, sell to the competition (often a national chain), or sell to the workers.
in reply to Stephen Dioxide

@Steve

A significant inheritance tax, possibly with low-cost loans to a worker co-op could help to transform capitalism.

Now all¹ we have to do is change the government to one that supports this.
___
1. "All": 😀

@kevinrns @gooba42 @ai6yr

in reply to Eric Lawton

@EricLawton @kevinrns @gooba42 We don't need to present it that way. We can talk about jobs, families, and the fabric of small-town America.
in reply to Stephen Dioxide

@Steve

I don´t understand what you mean by that. I hear that from right-wing politicians, but I assume you don´t mean the same thing as they do.

Did you have something specific in mind?

I don´t know much about the fabric of small-town America but the small towns here in rural Ontario are solid Conservative in their beliefs, not likely to support a change from the current system.

@kevinrns @gooba42 @ai6yr

in reply to Eric Lawton

@EricLawton @kevinrns @gooba42 What I mean first and foremost is protecting jobs. The workers traditionally depend on the boss to employ them, and if the boss dies, or retires, or goes bankrupt, those jobs are gone. However, if the workers become the owners, they no longer rely on the boss or any single individual. That's job stability, which not only supports the workers themselves, but their families and the other local businesses they patronize.
in reply to Stephen Dioxide

@EricLawton @kevinrns @gooba42 It's true that small-town folks skew conservative around the world. So, when I talk to such folks, I play up the angles of local control, autonomy, and even self-reliance. I also talk about teaching workers business skills and giving them greater responsibility. And finally, I observe that worker co-ops have a far better track record of survival than traditional businesses.
in reply to Stephen Dioxide

@Steve

When I lived in Albert's, I worked for United Grain Growers, as assistant elevator manager.

It was a farmer- owned co-operative. Next down the line was Cargill, a US agribusiness giant.

The political divide in the small town was easy to see by which company the farmers sold their grain to.

Sadly, UGG was bought out and became another agribusiness corporation.

Current tax and inheritance law makes it hard for co-ops to compete. Not just on product and price but on getting capital to renew our build infrastructure.

@kevinrns @gooba42 @ai6yr

in reply to AI6YR Ben

so, if they replace all their workers with AS (artificial stupidity) and keep the money they would have paid their workers...
And they convince other market sectors to do the same...

Where does the money for other businesses to buy their products come from, given that they have all replaced all their staff with AS, so no one has jobs, so no one has any money...

in reply to StuartB

@stuartb Its a new take on the tragedy of the commons. The market is like a well and people buying things is the water from the well that the companies all need. But, the companies all expect each other to have employees while they cheat the system by having very few employees. They all expect some other company to take the "burden" of having employees. I'm sure they'll figure it out and then choose to double down.
Unknown parent

glitchsoc - Collegamento all'originale
Dataline
@GhostOnTheHalfShell I took to calling it "omnicide" a few years back. I think it fits.
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mastodon - Collegamento all'originale
Joe Vinegar
@Dhmspector @hosford42 I agree on Dunning-Kruger but there's something more: the workers in the techbros' Silicon Valley were highly specialized and highly skilled, and were well rewarded by a booming tech industry. Their delusions of being smarter and better (just because they got to work in a highly rewarded economic niche) was supported by their living conditions compared to all other workers. If you see a fellow human treated worse than you, the easiest response is that each deserves the treatment based on their "worth" (which in turn is actually inferred from their treatment --- a circular reasoning). Tech workers having little workplace interaction (usually also socially super selective) have few opportunities for relating with fellow humans. A bunch of sociopaths by design.
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mastodon - Collegamento all'originale
Dave Spector
@hosford42 It goes hand in hand with the ever growing Dunning Kruger of so many in tech. The kind of self-assured arrogance that you knew more than everyone use to be mainly confined to the big consulting firms like McKinsey — then modern VC culture led techies believe they did in fact know everything (why else would they be able to make all these unicorns). It was all Dunning Kruger + Ayn Rand all the way down after that.
Questa voce è stata modificata (6 mesi fa)
Unknown parent

mastodon - Collegamento all'originale
Aaron

@clarablackink @Dhmspector The irony of them assuming they'll be among those selected...

The whole thing is disgusting. And, having worked in that industry, I can confirm it isn't made up or an isolated case. Most people in tech have more humanity than this, but there are plenty who think they're better than everybody else just because they work in tech, to the point that they think other people's lives don't even matter.

in reply to AI6YR Ben

LOL OK, let's see how much of your product you can sell to people without incomes or jobs.
in reply to smallerdemon

@smallerdemon Literally, an entire population without jobs and a handful of billionaires. I believe that would self correct fairly rapidly.
in reply to AI6YR Ben

@smallerdemon it's weird that I never see this basic question asked (nm answered).

how does the stupid system work with no income being earned by us peons?