Comments by "Michael Nurse" (@michaelnurse9089) on "Solving the \"Economic Agency Paradox\" with Tokenomics - Post-Labor Economics Theory" video.

  1. As an investor I can tell you 99% of people today are thoroughly incapable of being a decision making investor. I would go so far as to say that 90% of professional decision makers are just herd animals and so are also unsuitable. There has to be a better way than creating a giant casino where every beer drinking Joe can gamble his life's assets.
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  2. Picking AI assets managers changes nothing - you will pay them for their service and those fees will eat into returns. Just like picking meat asset managers today is typically a path to underperformance. Far better is the index method - everything goes into an index and everyone automatically owns 30% of the index - 5 year rolling average growth in the index can be drawn out in cash after leaving a buffer behind.
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  3. Cars were curiosities before mass production. Cars displaced horses because Henry ford reduced their cost 10x. This made cars many times cheaper per mile than travel by horse. People never cared about the inconvenience so much as they cared about the cost.
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  4. It is a fallacy that if consumer demand drops to zero the economy grinds to a halt. There is still business demand and government demand and exports.
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  5. The common heuristic today that consumer demand = economy is first of all a US thing and 2nd of all just an illusion that results from the US consumers spending a lot of money on a lot of junk. The implications of an economy that only produces junk and only consumes junk is well documented in the film Idiocracy.
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  6. "Intelligence too cheap to meter" comes from "Electricity too cheap to meter" coined when nuclear energy was taking off. We all now know how that original prediction ended up. I think the opposite is going to happen - Open AI will allow others to build highly capable agent swarms on top of its technology and the cost of these will be thousands, or even millions per month.
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  7. "That is not going to work. The SEC is just going to sue you into oblivion." I think Dave was walking in the woods during the election. This type of 'protect people from themselves' regulation is on the decline.
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