ALTMAN, 2021: THE MACHINES TAKE THE JOBS, CAPITAL TAKES THE MONEY
“Software that can think and learn will do more and more of the work that people now do. Even more power will shift from labor to capital. If public policy doesn't adapt accordingly, most people will end up worse off than they are today.”
Opening of Altman's 'Moore's Law for Everything' essay, which pairs the labor-to-capital prediction with a policy proposal: an American Equity Fund capitalized by taxing companies above a certain valuation 2.5% of market value per year (payable in shares) and taxing 2.5% of all privately-held land value. Preserve the conditions: the bleak outcome is what happens if policy doesn't adapt.
SOURCE
ORIGINAL SOURCEMoore's Law for Everythingsamaltman.com (first-party essay) (opening paragraph)