As an impact investor as well as a value investor, I shouldn’t be investing actively or passively in things that don’t align with my existence, values, and life manifesto. However, I'm not there yet, so I should find better ways to structure my life around this and work more proactively on it.
"The human desire to excel isn't as fragile and weak as the American faith in the profit motive might suggest. Maybe there's more to life than money." - The Nordic Theory of Everything by Anu Partanen
While reading a paper on Artificial Intelligence by Daron Acemoglu from Massachusetts Institute of Technology1, a thought popped up in my head, what if OpenAI were a foundation based in Finland or Nordics or EU, it would have never went towards a pathway of greed and lust for money fueled by billonaires like Sam Altman, Elon Musk, Masa Son and many others, rather than taking a step back and considering how this could benefit the humanity, the grifter game of silicon valley started, who can become a trillionaire, isn’t it just nuts or borderline crazy.
There are a few critical points highlighted in the paper by Daron Acemoglu. I want to gain a better understanding because it is connected to productivity, economic growth, and, consequently, employment and unemployment.
Using existing estimates on exposure to AI and productivity improvements at the task level, these macroeconomic effects appear nontrivial but modest—no more than a 0.71% increase in total factor productivity over 10 years.
AI advances are unlikely to increase inequality as much as previous automation technologies, as their impact is more evenly distributed across demographic groups. However, there is also no evidence that AI will reduce labor income inequality.
The writer warns that many new AI tasks may have negative social value (e.g., deepfakes, manipulative ads, IT attacks) and could increase measured GDP while actually reducing welfare.
Some new AI-driven activities (like increased energy use for computing or manipulative tasks) add to GDP but not to societal well-being.
Likely to benefit capital owners more than workers, and will not be a powerful force for reducing economic inequality.
In a world fueled by hunger to grow, billions are still not having enough nutritious food, a clean place to sleep, a hygienic place to SHIT, and we are having these SHIT AI wars. If it is based on facts and figures, I could understand; however, most things surrounding AI are fueled by greed, fear, and the lust for American capitalism, as well as those who romanticize it.
"Widenius (MySQL founder, Monty Widenius) and his team have, in the years since, nevertheless made good money, but they did so by providing support and other services, while the software itself remains free to the world." - The Nordic Theory of Everything by Anu Partanen
I couldn’t understand why American capitalists have no hunger to build authentically, creatively, and with integrity. Why do people like Sam Altman need to build a grifting machine to extract capital, rather than doing any good with it? I couldn’t understand.
I agree with every single word of Dr Astrid Scholz, what the freak is this, like seriously, at one end the company is valued at 500 billion dollars, valuations have not gone wild, it has gone insane, there is no connection to the reality and to the real world and then these people sitting in their armchairs writing huge cheques to Sam Altman for his ingenius company, to be honest, Sam Altman is at best an average IQ human being, a pretty average to immature CEO. Why do we back these CEO and founders who are neither smart nor good managers? I am losing my mind trying to understand this insanity. I recall now how Charlie Munger used to refer to bitcoin as evil. I call these VC backers sitting in Silicon Valley and investing in Silicon Valley insane, corrupt, and 100% evil humans, who have lost the human traits of integrity, compassion, and authenticity - Elon Musk, Peter Thiel, and Sam Altman are a bunch of liars and grifters. All the best to them. I am out of this rat race, peace!
We need a Nordic builder mentality; we need to think long-term, and we need to escape the rat race of valuations, trillions, and insanity. Build something authentically, and I hope the crash comes soon, wipe out everyone who holds (hodl) Bitcoin, Tesla, OpenAI, etc. We need to remove parasites to help humanity thrive again ^_^.
If you are building something in the Nordics, Canada, or Japan, I’d love to learn more from you. Please reach out to me at nobody@firstfollowers.co.
Peace out!
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Who am I?
Nobody.
And that is everything.
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