Source: Fortune
Summary
Elon Musk predicts that AI could make work optional and money irrelevant, leading to a “universal high income.” However, billionaire Michael Saylor disagrees, arguing that people will always want more and that luxury goods will become the new status symbol. Saylor believes that technological advancements have made necessities more affordable, but humans will always strive for something better. He points to the example of modern food consumption, where people pay $300 to eat at a restaurant despite being able to feed themselves for $3 a day.
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Michael Saylor’s argument is that humans are “status-oriented animals” and will always want something more, no matter how abundant necessities become. Elon Musk’s prediction of a universal high income is not enough to eliminate the desire for luxury. Saylor’s own experience as a billionaire and founder of MicroStrategy informs his view. The concept of a “trophy asset” is key to understanding human behavior in the face of abundance.
The luxury car is always invented, and the baseline for luxury is constantly raised. This is the cycle that Saylor believes will continue even with AI-driven abundance.
Author: Evan Null
