Ep 7: What happens when EVERYTHING is free?

May 30, 2025

Albert Wenger, a German-American businessman and managing partner at Union Square Ventures, discusses the transformative potential of zero marginal cost and AI. He explores how everything could be free and the implications for capitalism and work. Wenger argues that universal basic income might be essential to address the diminishing value of labor. He shares insights from a UBI pilot he’s funding, emphasizing the impact of $500 a month on individuals. The conversation navigates the need for government action in an AI-driven future and the importance of user empowerment.

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INSIGHT

Zero Marginal Cost Impact

Digital technology's zero marginal cost changes economics fundamentally with power law distributions.
It enables the rise of dominant large companies unlike physical production's bell curve.

INSIGHT

AI as Computation Shift

AI and digital technology are intimately linked as computation rather than isolated machines.
This shift can free humanity from mundane labor, enabling creative and human-centered pursuits.

INSIGHT

Labor Value Decline

Returns to labor are dropping while capital gains increase due to automation.
Human labor value falls towards zero, challenging traditional capitalism fundamentally.

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What do you ask someone who invests in nuclear reactors and believes we should all have our own AI?

I had the chance to sit down with Albert Wenger, partner at Union Square Ventures and someone who’s spent years thinking deeply about the future of work, technology, and capitalism. He’s not just a venture capitalist—he’s written a book about how zero marginal cost and universal computation could change everything.

In this conversation, we talk about why jobs are losing meaning, why basic income might be the fix, and what it will take from corporations, governments and politicians to build a better future.

He also tells me about a UBI pilot he’s running—yes, out of his own pocket. Tune in now!

IN THIS EPISODE

(00:00) What if digital tech isn’t just another machine?

(01:51) A world with zero marginal costs

(03:34) What happens when everything costs nothing

(05:18) Is it Digital or Intelligent?

(08:10) Is AI a threat?

(10:15) Is it the end of Capitalism?

(12:20) Will Universal Basic Income fix the ills of AI?

(19:18) Can $500 a month actually change someone’s life?

(25:25) Are you an extractor or an empowerer?

(26:43) How can AI be optimised for our good?

(29:49) The role of Government in an AI world

(35:08) What could politicians do?

Our Guest

Albert Wenger is a German-American businessman and venture capitalist. Wenger is a managing partner at Union Square Ventures, a New York City-based venture capital firm with investments in companies such as Twilio, Etsy, Firebase, Behance, and MongoDB.

Connect with him at https://www.linkedin.com/in/albertwenger

Our Host

Peng T. Ong is a seasoned founder and investor who spends his time venture building the next generation of AI-enabled businesses. As Co-Founder and Managing Partner of Monk's Hill Ventures, an early-stage tech venture capital firm in Southeast Asia, he influences innovation across the region.

Connect with him at https://sg.linkedin.com/in/pengtong

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About Embracing Singularity Podcast

What happens when technology rewrites the rules of work, wealth, and meaning?

In this series, investor Peng T. Ong sits down with technology trailblazers to explore the future we’re hurtling toward—one shaped by AI, zero marginal cost, and radical shifts in how society functions. Get ready for bold ideas, deep insights, and the urgent questions we all need to ask before the future arrives!