Replying to Avatar jimbocoin 🃏

#[0]​ Listening to your podcast BTC127. Great stuff as always, but I’d like to push back in the AI-destroys-jobs prediction.

If demand for programming was static, yes, we would expect supply expansion to push down price. But my counter-claim would be that demand is not static.

All programming is an act of automation. It makes rapid what would otherwise be drudgery. But it seems that no matter how much automation exists, yet more demand surfaces.

Like innovations before it, AI will make automation more abundant. But the well of demand for automation appears to be bottomless.
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Shire 2y ago

Counterpoint: what if they automate the creation of automations?

Counterpoint to that counterpoint: only humans know what automations they value.

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jimbocoin 🃏 2y ago

People often fall into the trap of thinking that the visible artifact (code) is the value. But this is an illusion.

Code is not the good itself. In economic terms, code is a “bad”.

Code is the thing you tolerate because it enables the good—functionality. And all signs indicate that the demand for functionality is unbounded, no matter how it happens to be generated.