#29 – Phil Trammell on Economic Growth under Transformative AI
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The Robotic Cost Threshold
A breakthrough in AI and robotic technology will allow capital to be more substitutable for labor than it currently is. No one's going to build robots now because they're just too expensive, so we'll keep on producing things with human workers. But that means we're getting richer and richer, right? So one day will be rich enough that'll actually be worthwhile to start making lots of these billion dollar robots. Right? Because we're all billionaires at that point.
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