David Friedberg

if your earnings go up by 10%, and things stay the same price, you got 10% more than you had last year, you're you're gonna be happy.

if your earnings go up by 10%, and things stay the same price, you got 10% more than you had last year, you're you're gonna be happy.

I just think like all humans are driven by this need to consume more each year than they did last year.

I just think like all humans are driven by this need to consume more each year than they did last year.

So I think for me, that's like the lower limit on consumptive capacity in the world.

So I think for me, that's like the lower limit on consumptive capacity in the world.

The question that we're now facing, which we've never faced in human history before, is there an upper limit on consumptive capacity?

The question that we're now facing, which we've never faced in human history before, is there an upper limit on consumptive capacity?

Because AI creates such a profound shift in productivity and in leverage that normally you would say, hey, when we get a new tool or we get new leverage in a system, we build a new technology, we can make more with less.

Because AI creates such a profound shift in productivity and in leverage that normally you would say, hey, when we get a new tool or we get new leverage in a system, we build a new technology, we can make more with less.

Therefore, everyone gets access to more things for the same price or the cost of things that they consume come down by a certain price.

Therefore, everyone gets access to more things for the same price or the cost of things that they consume come down by a certain price.

But there may be a situation now where the ability to make stuff exceeds the capacity to consume stuff.

But there may be a situation now where the ability to make stuff exceeds the capacity to consume stuff.

And that is something that I don't think we've faced before.

And that is something that I don't think we've faced before.

And I think that's sort of where a lot of the models start to break just general economic models, just general productivity models, and general social models.

And I think that's sort of where a lot of the models start to break just general economic models, just general productivity models, and general social models.

And this goes to the point about like, what is everyone going to do?

And this goes to the point about like, what is everyone going to do?