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That should be the goal, right? Good ideas get the funding they need as if by magic, yet nobody is sitting on the sidelines collecting rent.

The best thing that AI can do for finance is eliminate it.



that sounds really bad for everyone collecting rent


It would be great for people collecting rent. No fees, just profit.


Where would the profits come from? Any AI extracting them would be at a disadvantage compared to the equivalent AI that makes the same decisions otherwise but doesn't extract those profits.

Profits motivate the investor, but they impede the investment, and what we want are successful investments not happy investors.

I don't think human investors can manage to be less greedy than an AI designed to not be greedy. AI will get more efficient, while humans still have to eat. Also, the assumption we're working under is that humans also make worse investment decisions than the AI.

So if you're in need of abstractions to motivate others to help you with some venture that you can't do alone, why would you (or your employees) prefer the ones that have greedy third parties in the loop who are also misallocating resources?

There are domains where that human touch means something. We should not let AI run everything. But finance is not one of them, so why resist it becoming a solved problem?

The investors can compete on who can take smaller and smaller profits, aided by the AI, and once they've got their system nearly perfect, we copy it and have it take no profits at all. Thanks capitalism, you've done your job, now it's time to go get a different one.

If we start getting outcomes that we don't like, we can always just turn our backs on the AI-begotten abstractions and let the humans take another crack at it, but a system that runs itself without owners extracting profits should absolutely be the goal.


they can get jobs


Not really, just do something else instead. It'll only actually happen if the AI-begotten efficiencies are real, and in that scenario there will more to go around re: supporting people whose current expertise is no longer relevant.




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