BY DEFAULT, CAPITAL WILL MATTER MORE THAN EVER AFTER AGI

Summary from the TLDR newsletter

This article talks about the implications of labor-replacing AI and the possible future that we might be facing. Labor is the human mental and physical effort that produces something of value. Capital goods are things that are used in the production of goods and services. Capital can refer to both the stock of capital goods and the money that can pay for them. AI will make capital a more general substitute for labor. There will be less need to pay humans for work as you can replace that with capital - data centers running software.