Yeah, but it only hurts their ability to make money because they don't want to learn anything new. It could dramatically magnify their ability to make money & to solve people's problems, but most of them don't actually think in terms of creating value for others.
That is correct, they are shortsighted.
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They will be shortsighted until they need to eat.
Then it will be adapt, or try to sell art in the subway stations.
There is one more option: go to the government and ask them to use violence to “regulate” AI