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#386 – Marc Andreessen: Future of the Internet, Technology, and AI
Lex Fridman Podcast
The Economic Fallacies of Expensive Smartphones and Job Automation
The high price of smartphones is driven by the pursuit of profit rather than technological capability./nCapitalist self-interest is a reliable motivator for the development of new products./nThe belief that there is a fixed amount of work in the world is a fallacy./nAs technology is introduced into production processes, prices fall and consumer spending power increases./nIncreased consumer spending power creates new demand, leading to the formation of new enterprises.
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