#386 – Marc Andreessen: Future of the Internet, Technology, and AI
Lex Fridman Podcast
00:00
The Economics of Software: Transmuting Labor into Capital
Software is like the philosopher stone of technology, as it transmutes labor into capital. This concept completely refutes Karl Marx's theory of labor and capital. Software is able to create value out of purely human thought, creating capital assets worth billions of dollars. This is a revolutionary concept that was inconceivable during Marx's time, where machinery required massive amounts of capital and exploited labor. In contrast, a software engineer can transform their own labor into a valuable capital asset, creating permanent value.
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