Is this “swelling AI tax revenue” and “wealth redistribution” in the room with us right now?
I see wealth redistribution alright. Not in the direction you’re thinking!
Thanks for pointing this out, you've saved me from wasting my time on this article.
Well at the moment AI hasn't made anyone any money. It's redistributed investors money (typically wealthy although some pension plans have been caught up too) to tradespeople, to Nvidia, SK Hynix, Micron and other specialised vendors with pricing power.
After that it's like... Who is making money? "we're doing 100x the things we're doing before" people can't really point to anything. Maybe it's in use everywhere all the time, and they've been pumping out twice the amount of features that no one uses or asked for as before, in which case this is classic value destruction