Avatar
Kiran Kaur
ae8b1d027a25f2e4b8b32e4c758344b38ee0c15264905daf4583ae055bb40f4f
Grateful for the gifts of education, internet, innovation, democracy, decentralization, cryptography, poetry, art, culture, privacy, work, safety, health, family, friends, giving, and love. May peace be with you all. All once threatened by financialization, yet still enduring.
Replying to Avatar Lyn Alden

When it comes to AI, philosophical people often ask "What will happen to people if they lack work? Will they find it hard to find meaning in such a world of abundance?"

But there is a darker side to the question, which people intuit more than they say aloud.

In all prior technological history, new technologies changed the nature of human work but did not displace the need for human work. The fearful rightly ask: what happens if we make robots, utterly servile, that can outperform the majority of humans at most tasks with lower costs? Suppose they displace 70% or 80% of human labor to such an extent that 70% or 80% of humans cannot find another type of economic work relative to those bots.

Now, the way I see it, it's a lot harder to replace humans than most expect. Datacenter AI is not the same as mobile AI; it takes a couple more decades of Moore's law to put a datacenter supercomputer into a low-energy local robot, or it would otherwise rely on a sketchy and limited-bandwidth connection to a datacenter. And it takes extensive physical design and programming which is harder than VC bros tend to suppose. And humans are self-repairing for the most part, which is a rather fantastic trait for a robot. A human cell outcompetes all current human technology in terms of complexity. People massively over-index what robots are capable of within a given timeframe, in my view. We're nowhere near human-level robots for all tasks, even as we're close to them for some tasks.

But, the concept is close enough to be on our radar. We can envision it in a lifetime rather than in fantasy or far-off science fiction.

So back to my prior point, the darker side of the question is to ask how humans will treat other humans if they don't need them for anything. All of our empathetic instincts were developed in a world where we needed each other; needed our tribe. And the difference between the 20% most capable and 20% least capable in a tribe wasn't that huge.

But imagine our technology makes the bottom 20% economic contributes irrelevant. And then the next 20%. And then the next 20%, slowly moving up the spectrum.

What people fear, often subconsciously rather than being able to articulate the full idea, is that humanity will reach a point where robots can replace many people in any economic sense; they can do nothing that economicall outcomes a bot and earns an income other than through charity.

And specifically, they wonder what happens at the phase when this happens regarding those who own capital vs those that rely on their labor within their lifetimes. Scarce capital remains valuable for a period of time, so long as it can be held legally or otherwise, while labor becomes demonetized within that period. And as time progresses, weak holders of capital who spend more than they consume, also diminish due to lack of labor, and many imperfect forms of capital diminish. It might even be the case that those who own the robots are themselves insufficient, but at least they might own the codes that control them.

Thus, people ultimately fear extinction, or being collected into non-economic open-air prisons and given diminishing scraps, resulting in a slow extinction. And they fear it not from the robots themselves, but from the minority of humans who wield the robots.

Think of what happens to animals in a world ruled by humans. Some are domesticated, bred to serve human needs. Others are left to the wild, dwindling in number as their habitats shrink. And some, deemed inconvenient or dangerous, are simply eradicated. That’s the fate I am thinking of from an evolutionary survival-of-the-fittest perspective. In a world where AI replaces human labor and economic interdependence dissolves, the question is no longer about fairness or purpose, but about survival itself.

Replying to Avatar Lyn Alden

When it comes to AI, philosophical people often ask "What will happen to people if they lack work? Will they find it hard to find meaning in such a world of abundance?"

But there is a darker side to the question, which people intuit more than they say aloud.

In all prior technological history, new technologies changed the nature of human work but did not displace the need for human work. The fearful rightly ask: what happens if we make robots, utterly servile, that can outperform the majority of humans at most tasks with lower costs? Suppose they displace 70% or 80% of human labor to such an extent that 70% or 80% of humans cannot find another type of economic work relative to those bots.

Now, the way I see it, it's a lot harder to replace humans than most expect. Datacenter AI is not the same as mobile AI; it takes a couple more decades of Moore's law to put a datacenter supercomputer into a low-energy local robot, or it would otherwise rely on a sketchy and limited-bandwidth connection to a datacenter. And it takes extensive physical design and programming which is harder than VC bros tend to suppose. And humans are self-repairing for the most part, which is a rather fantastic trait for a robot. A human cell outcompetes all current human technology in terms of complexity. People massively over-index what robots are capable of within a given timeframe, in my view. We're nowhere near human-level robots for all tasks, even as we're close to them for some tasks.

But, the concept is close enough to be on our radar. We can envision it in a lifetime rather than in fantasy or far-off science fiction.

So back to my prior point, the darker side of the question is to ask how humans will treat other humans if they don't need them for anything. All of our empathetic instincts were developed in a world where we needed each other; needed our tribe. And the difference between the 20% most capable and 20% least capable in a tribe wasn't that huge.

But imagine our technology makes the bottom 20% economic contributes irrelevant. And then the next 20%. And then the next 20%, slowly moving up the spectrum.

What people fear, often subconsciously rather than being able to articulate the full idea, is that humanity will reach a point where robots can replace many people in any economic sense; they can do nothing that economicall outcomes a bot and earns an income other than through charity.

And specifically, they wonder what happens at the phase when this happens regarding those who own capital vs those that rely on their labor within their lifetimes. Scarce capital remains valuable for a period of time, so long as it can be held legally or otherwise, while labor becomes demonetized within that period. And as time progresses, weak holders of capital who spend more than they consume, also diminish due to lack of labor, and many imperfect forms of capital diminish. It might even be the case that those who own the robots are themselves insufficient, but at least they might own the codes that control them.

Thus, people ultimately fear extinction, or being collected into non-economic open-air prisons and given diminishing scraps, resulting in a slow extinction. And they fear it not from the robots themselves, but from the minority of humans who wield the robots.

If history is any guide, the first phase will be similar to the industrial revolution -technology will complement certain types of workers, making them more productive, while replacing others entirely. But if AI advances to the point where even high-skill labor is no longer necessary, we reach a stage unprecedented in human history: a world where ownership of automation is the sole determinant of economic power.

Imagine a scenario where AI-driven corporations, controlled by a small group of capital holders, optimize every aspect of production, logistics, and service industries. Governments, pressured by economic efficiency, privatize social services, making access to resources contingent on corporate governance rather than state policies. In this world, the traditional idea of employment vanishes for most. Instead of wages, former workers survive on universal basic income or corporate stipends, tied not to productivity but to compliance with the systems owned by the elite.

History suggests that once a class of people is economically unnecessary, they become politically vulnerable. The landed aristocracies of the past had use for peasants as laborers, but what happens when even the illusion of economic necessity disappears? In previous centuries, displaced workers could riot, revolt, or demand redistribution, but in a world governed by automated systems and AI-controlled security, resistance itself could become obsolete.

The darkest outcome isn’t violent suppression but a slow, passive neglect—the emergence of a “post-labor caste” that, lacking any economic leverage, is maintained at a subsistence level only as long as the ruling class finds it convenient. Perhaps they are given digital entertainment, AI companions, and just enough resources to avoid rebellion, but they remain permanently outside the sphere of influence, their fate determined entirely by those who own and control automation. Think of animals in world dominated by humans…

Its evolution and survival of the fittest again.

As hegel once talked about the soul of humanity telling the larger story through the actions of the many. I do agree with your view of effectiveness of focus on activities that make a larger difference… but we must never undermine the expressions of anyone because all reactions added up end up setting the course of the next action in history.

Each individual acts in the limits of their capacity, thought process, resources, and subjectivity. Each important to the sum of the whole.

As hegel once talked about the soul of humanity telling the larger story through the actions of the many. I do agree with your view of effectiveness of focus on activities that make a larger difference… but we must never undermine the expressions of anyone because all reactions added up end up setting the course of the next action in history.

Each individual acts in the limits of their capacity, thought process, resources, and subjectivity. Each important to the sum of the whole.

Replying to Avatar Lyn Alden

Losing someone young, or losing an older person while you are young, is always hard.

When my father passed away from cancer while I was in my early twenties, it wasn't surprising at all. This fact had been coming for two years, slowly. But when it came, it hurt just as bad. And till this day it still hurts.

I was at work and got a call; it was a hospital. They said my father had been suddenly transferred to hospice, and it wasn't looking good. He probably had a week at most. He was in another state. The doctor transferred my father to me on the phone and my father was weakly like, "hey...." and I said hello, and I said I'm coming now. He said, "No don't... uhh.... don't worry... you are far and have work... I'm fine...." I asked then why was he transferred to hospice if things were fine. He was like, "uh well... well you know.... uh.... it's fine...." And I was like, "holy shit I'm coming right now."

So I went to my boss and looked at him. I had previously told him that there might be a moment where I would have to just immediately leave without notice, no matter how important the meetings and such, because of my father. So in this moment I literally just looked at him in the middle of a busy day and was like, "I gotta go" and he was like "of course". So I drove there, two hours away and went straight there. My father weakly said on the phone not to go, but he never sounded like that, so I went immediately.

I got there, and my father was in a hospital in the death ward, and the guy who greeted me was a pastor rather than a nurse, which was not a great sign. I asked what was going on and he told me straight up that this was not good, that my father was likely dying within a week. So he brings me to my father. My father is barely awake. His memories and statements are all over the place, but I just hold his hand and tell him that it's fine and I love him. I'm just there. He kept fading out and I was like, "it's okay, just relax". He could see me and talk in a rough sentence or two and thanked me for coming, but started to fade away.

And then after like 30 minutes, he went fully unconscious. He was still roughly gripping and shaking the bed headboard and so forth but wasn't conscious (and I was like, "Are you all giving him the right pain medicines, this doesn't look good", and even the pastor was like, "yes I have seen many and this is not comfortable" and I was like an angry 23-year-old so I went out in the center area like, "what do all of you even fucking do here?! He is shaking the bedframe and looks in pain, and even the pastor agrees. Holy shit." So I went and got medical attention to deal with this, but felt slow and ineffective at this. They gave him more morphine and it calmed him down, but while it relaxed him, he ultimately didn't wake up again.

I spent the next couple hours there, and then left and called various family members for my second round when he was unmoving. I said if they want to see him, come now, in the next day or two.

But a little while later after I left, I got a call and was told he had died. Only I (and the nurses) saw him while he was still briefly conscious.

During that call itself, I was stoic. I was like, "Yes, I understand. Okay." and then hung up. And then I sat there for like five minutes in silence... and then cried. I got over it quickly and we did the funeral in the following days. My father had been struggling with cancer for years, so this wasn't fully surprising.

But what lingered was the memory. It has been 13 years now, and yet whenever I am in my depths I still think of my father. The memory never gets weaker. I think of his love, or I think of how attentive he was, or how accepting he was, or what he would say about my current problems.

People we love, live on through us. We remember them so vividly, and we are inspired by them.

If he was a lame father, he wouldn't have so many direct memories 13 years later. But because he was a good and close father, he does.

All of those memories are gifts. All of them are ways of keeping aspects of that person alive in our world. It's how we remember them in the decades that follow. Their victories, their losses, and everything in between. Virtues they quietly did that you find out later. Virtues you realize only in hindsight how big they were.

♥️

Over the last two years, my journey as a loan officer has sparked an insatiable curiosity about the complex interplay between finance and human conduct. Observing first-hand the disparities in lending, I was compelled to delve deeper into the intricacies of our financial ecosystem. This quest has not only illuminated how incentives can sway even the well-intentioned but also led me to a carefully selected collection of writings. Each work acts as a beacon, shedding light on the delicate fusion of human nature, the levers of power, and the economic structures that shape our existence:

1. “The Lessons of History” by Will Durant - Distills patterns from global historical events.

2. “Education of a Speculator” by Victor Niederhoffer - Provides a window into the practical world of financial speculation.

3. George Soros’s Books - Illuminate the strategies of speculation and market influence.

4. “The Republic” by Plato - Lays the philosophical groundwork for governance and justice.

5. “The Wealth of Nations” by Adam Smith - The seminal work on economics and capitalism.

6. Michael Saylor’s Interview with Lex Fridman - A contemporary examination of inflation and its effects.

7. “The Bhagavad Gita” - Offers profound insights into duty, righteousness, and life’s purpose.

8. “Meditations” by Marcus Aurelius - A personal manuscript on stoic philosophy and inner discipline.

9. “The Prophet” by Khalil Gibran - Provides poetic wisdom on life and the human spirit.

10. “The Price of Time” by Edward Chancellor - A deep dive into the history and implications of interest rates.

11.“The Age of Discord” - Explores the societal trends and movements of nations.

12. “A History of the Federal Reserve” by Allan H. Meltzer - Chronicles the evolution of the central banking system.

13. “The End of the World is Just the Beginning” by Peter Zeihan - Projects the geopolitical shifts of the near future.

14. “Broken Money” by Lyn Alden Alden - Dissects the modern fiat currency system.

I will be adding more of my favorites on here as I continue to read .

A Comprehensive Timeline of U.S. Economic History and Key Innovations:

Early 20th Century:

- 1907:The Panic of 1907 catalyzes the creation of the Federal Reserve in 1913, establishing it as a financial stabilizer.

1910s-1930s:

- 1913:Niels Bohr and Ernest Rutherford make groundbreaking discoveries in atomic structure.

- 1913-1930s:Federal Reserve operates with 40% gold-backed reserves, focuses on banking stabilization.

- 1930s:Alan Turing's formative years, later contributing to WW2 efforts.

Post-WWII Era:

- 1944:Bretton Woods Conference sets the U.S. dollar as the global reserve currency, enhancing the Fed's international role.

1950s-1960s:

- Economic expansion with low-interest rates under Presidents Truman and Eisenhower.

- Kennedy and Johnson promote growth, with the Fed under Martin maintaining low rates amidst the Vietnam War.

1970s:

- Stagflation hits, Nixon ends the gold standard in 1971, and Volcker takes bold steps to curb inflation by the decade's end.

1980s:

- Reaganomics introduces tax cuts and deregulation. Greenspan continues Volcker's policies, later easing interest rates.

1990s:

- Stable growth known as "The Long Boom" with Clinton's presidency coinciding with a strong economy.

Early 2000s:

- The dot-com bubble burst and 9/11 attacks mark the decade's start. The housing bubble grows under Greenspan and Bernanke.

Late 2000s:

- The 2008 financial crisis strikes, leading to Bernanke's unconventional Quantitative Easing tactics.

2010s:

- A period of recovery ensues with continued low rates under Obama and Trump, and Fed Chairs Yellen and Powell.

Up to 2022:

- The COVID-19 pandemic triggers a global economic slump, with Biden's presidency and Powell's Fed responding with massive fiscal and monetary support.

General Trends:

- Mid-century sees the rise of globalization.

- The late 20th century recovers U.S. economic credibility and begins the Third Industrial Revolution.

- Parallels drawn between the 1920s/2000s (credit growth), 1929/2008 (financial crises), 1930s/2010s (economic stagnation), and 1940s/2020s (conflict and populism).

This brief provides insights into the pivotal moments and figures shaping economic policies through the decades, reflecting the evolution of the U.S. economy and its response to various crises.

Dear Ms. nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a ,

Reflecting on the historical context of John Law's Mississippi Company, it's intriguing to consider the implications of limited gold supply on national debt as presented to the French government.

In an emerging landscape where Bitcoin becomes a significant economic factor, and national creditors are at risk due to over-leverage, I'm curious about your perspective on alternatives to traditional bailouts, which typically involve currency debasement.

Given that currency debasement can fund technological and energy advancements—thus fostering a cycle of innovation, education, and democratic progress, despite arising from adversity—I'm keen to hear your thoughts on whether this form of funding is essential for the continuous rapid growth in these fields.

Additionally, contemplating the historical instance of J.P. Morgan's intervention post-1921, I wonder what the modern equivalent might be in the absence of such a bailout.

Warm regards,

Kiran Kaur