AI-driven deflation could push interest rates to negative
“AI, I think, is going to be tremendously deflationary. It's going to drive the cost of goods down, the cost of service down. I actually think that AI will potentially drive interest rates negative. Whereas if you have $100 in a bank account, you will be paying 1% to the bank to keep that money in the bank account.”
“I think Tesla is the best positioned to dominate AI and robotics. But I still also believe that those types of things that are human in nature and that can't be produced by artificial intelligence will be what's valuable. The flex might be a Honus Wagner card or human art because rarity will come down to human culture.”
The US-China AI race mirrors the Manhattan Project
“It's very reminiscent of the Manhattan Project. If it was just America that was a hegemonic power and there was no Germany during World War II, maybe we would have taken more time and been a little bit more thoughtful from a philosophical moral perspective. But we didn't. It was a race. We were racing full steam ahead because we don't want China to get there before us.”
AI will replace half of American jobs within decade
“I wouldn't be surprised if we see within 10 years, 50 percent of the jobs in America gone. AI will replace all intellectual capital. Robotics combined with AI will replace all human physical labor. Within 20 years, it is probably 90 percent.”
Humanoid robots face a massive future production bottleneck
“I actually think that the bottleneck will be the production of humanoid robots. It won't be the fact that plumbing is too difficult, because if you think about it, there's 5,000 humanoid robots, and they all plumb for one year. Instead of having one year of experience of plumbing, they're all going to have 5,000 years of experience because they're all going to know everything that every other humanoid robot knows.”
“There's a 10 to 30 percent chance it kills us all, but there's a 70 percent chance that we live in an age of abundance that you couldn't even have contemplated 10 years ago. I'm incredibly optimistic about AI, but I'm being kind when I say it is a one in three chance of being wiped out by the end of the century.”
Universal AI tutors will revolutionize global education access
“If you are a poor seven-year-old in Peru, milking your cows on your dad's farm, AI is going to change your life so much for the better. That boy is going to have access to an education level greater than a Harvard PhD can now experience. He'll have access to that free education, a free AI tutor, and internet via satellite for near free.”