Nvidia CEO Jensen Huang predicts that AI will compete with human intelligence in the next five years, amidst a significant business boom for Nvidia and its AI advancements.
Nvidia CEO Foresees AI Competing with Human Intelligence in Five Years::Nvidia CEO Jensen Huang predicts that AI will compete with human intelligence in the next five years, amidst a significant business boom for Nvidia and its AI advancements.
Automation wont stop because of taxes… There needs to be money, for the people that loses jobs to automation. The products wont get cheaper with more automation.
I wouldn’t want to move to a third world country like america, where the low taxes that are paid by the little guy, are used to help the big guy. I’m fine living in a country, where my relatively high taxes can make the country even better.
Imagine you want to produce something. Maybe you want to bake a couple 10,000 breads over the next few years. Whatever. You could hire 50 guys and buy some simple tools, or you could hire 5 guys and buy some advanced machinery. What do you do?
The typical business will pick the cheaper option. It will replace as much labor with machines as is cost-effective. A few businesses will make a thing out of being inefficient and expensive, like how Rolls-Royce cars are handmade.
If you tax automation, you make the machines more expensive. So, when someone has the choice between using machines or using labor, then it will be labor more often. So, you’re right: It won’t stop automation. You will just have less of it. Productivity will be lower. The country will be always be poorer than without such a tax.
People in such a country will either have to work more hours for the extra labor needed or do with less.
With taxation, the smaller companies can keep up, because the large companies, that have automated everything, and just one maintenance guy working there, have to pay a lot, not to have any employees.
Yes, so you need more labor to get the same amount of product. Isn’t that what I wrote?
I agree that use of machines can give you economies of scale, which makes large businesses more competitive. So a tax on automation could indirectly benefit smaller businesses at the cost of society. I am not quite sure why a society would want that, though?
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Automation wont stop because of taxes… There needs to be money, for the people that loses jobs to automation. The products wont get cheaper with more automation.
I wouldn’t want to move to a third world country like america, where the low taxes that are paid by the little guy, are used to help the big guy. I’m fine living in a country, where my relatively high taxes can make the country even better.
Imagine you want to produce something. Maybe you want to bake a couple 10,000 breads over the next few years. Whatever. You could hire 50 guys and buy some simple tools, or you could hire 5 guys and buy some advanced machinery. What do you do?
The typical business will pick the cheaper option. It will replace as much labor with machines as is cost-effective. A few businesses will make a thing out of being inefficient and expensive, like how Rolls-Royce cars are handmade.
If you tax automation, you make the machines more expensive. So, when someone has the choice between using machines or using labor, then it will be labor more often. So, you’re right: It won’t stop automation. You will just have less of it. Productivity will be lower. The country will be always be poorer than without such a tax.
People in such a country will either have to work more hours for the extra labor needed or do with less.
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Yes, so you need more labor to get the same amount of product. Isn’t that what I wrote?
I agree that use of machines can give you economies of scale, which makes large businesses more competitive. So a tax on automation could indirectly benefit smaller businesses at the cost of society. I am not quite sure why a society would want that, though?