📰 Summary (use your own words)

✍️ Notes

• The recursive loop of innovation

  • Create phenomenal wealth, price of labor that the technology replaced will fall to 0
  • World change so rapidly and drastically that an equally drastic change in policy will be needed to distribute wealth
  • Improve standard of living for people more than ever

• We are at the start of this tectonic shift and can pivot into the direction we wish to head towards

• AI revolution

  • The coming change will center around our abilities to think, create, understand and reason
  • Progress made will be exponential

• Moore's law for everything

  • Two ways to afford a good life, increase wealth or decrease price
  • To effectively increase society wealth, the best way is to decrease the cost of goods
  • We will discover new jobs - we always do after a technology revolution

  #opinion Just because historically this has always happened doesn't mean it will hold if we don't know the root cause

• Capitalism for Everyone

  • Stable economy requires growth and inclusivity
  • In a zero-sum world, democracy can become antagonistic as people will want to vote money away from each other and leads to distrust and polarization
  • In a high-growth world, dogfights can be far fewer because its much easier for everyone to win
  • The price of progress in capitalism is inequality
    • Some inequality is okay, even critical to the operation of the system
  • Tax should shift from income to capital

  Hard for me to imagine to have this shift practically put into place

  • The tax becomes "American Equity Fund" and distributed to all adults
  • People are incentivized to improve the country as their fund gets bigger

  Also questionable conclusion, given that people in companies are somewhat incentivized by owning shares. However, how much day to day decisions are made with that in mind?

• Shifting to the New System

  • Good future envisioned here is simple. Technology to create more wealth, policy to fairly distribute it