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Tag: Economics
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Categories: More Relevant (Other Business)Tags: AGI, AI, artificial-intelligence, Best, Business, Career, Economics, Philosophy, Robotics, science, Space, technology
Economics is only about who owns what and how those assets are used. Even abundant EAGI (embodied artificial general intelligence) won’t change that. Control assets, apply efficiency, hope for luck; that equation doesn’t change.Active income = renting the only asset you can’t store, your time. Engineers, landlords, founders all do it. Passive income just substitutes someone else’s time (or eventually, an EAGI’s).We’re nowhere near AGI (artificial general intelligence) yet, but imagine EAGIs (robots controlled by AGI) becoming as abundant as smartphones.When EAGIs outperform humans at everything, the key question is who owns them. Own even one EAGI unit, and you…
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Categories: More Relevant (Other Business)Tags: AGI, AI, artificial-intelligence, Business, Career, Economics, Philosophy, Robotics, science, Space, technology
Here’s the link to the condensed version of this post. It’s about ownership. Even abundant EAGI (embodied artificial general intelligence) could never change that.Regardless of what happens with AI in the coming decades, it will still only be about ownership, as it always has been and always will be.The only goal in business is getting the most ROI from the resources you own. Efficiency (and luck) are the only ways someone might outperform another person.Economics is only about who owns what and how people/entities use what they own.Active income (whether as an employee or an entrepreneur) is just trading ownership…
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Categories: Less Relevant (Other Business)
Why are most of the world’s richest people not from ultra‑rich families?Because in the long-term, growth rate beats everything.What distinguishes those who consistently achieve a higher growth rate?Execution is critical, but millions execute well. That’s not it.It’s the ideas, the solutions to the ambiguous problems.Think about it.Thousands of capable entrepreneurs had already launched internet businesses when Jeff Bezos was just getting started with Amazon.Amazon’s long-term vision was to become the store for everything, and to start with books: a brilliant answer to the ambiguous problem of pairing a bold vision with a feasible first model.While other talented executors went broke…
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A great business executive doesn’t have to be an accountant; as long as someone is acting as the accountant.A great business executive doesn’t have to be a visionary; as long as someone is acting as the visionary.Steve Jobs (the visionary of Apple in its beginning) happened to have much more business acumen than Steve Wozniak (the executor of Apple in its beginning).But, if Wozniak had that business acumen instead of Jobs, then Apple could have been just as successful with Wozniak as the head executive as long as he had the self-awareness to recognize that he needs Jobs for the…
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