Apr 13, 2021

OpenAI Founder Sam Altman Chalks Out A “Wealth For All” Plan

Posted by in categories: employment, robotics/AI

Altman suggests taxing capital rather than labour. And, these taxes can be used to distribute ownership and wealth to citizens. Altman said his idea is nothing new but is more critical than ever as AI applications outclass their contemporaries. “If everyone owns a slice of American value creation, everyone will want America to do better,” wrote Altman.

“We should therefore focus on taxing capital rather than labor, and we should use these taxes as an opportunity to directly distribute ownership and wealth to citizens.”

Pinning careers and hopes to Moore’s law does sound like utopia, and even Altman admits it. He also believes that the AI revolution will compensate for the disruption by generating new jobs. Jobs, which we haven’t heard of yet (think: urban rodentologist). That’s why the OpenAI co-founder stresses establishing a system that will result in a society that is “less divisive” and enables everyone to participate in its gains. According to him, this technology revolution is an eventuality, and nothing can stop it. The revolution will be further accelerated as machines that make machines get smarter. For example, OpenAI’s GPT-3 was used to generate machine learning code, a million-dollar startup idea in itself. One application can put many developer jobs at risk.

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