Jeffrey Sachs
speaker
2,235 appearances
19 recordings
10 series
first heard Oct 2024
last heard 5d ago
Jeffrey Sachs’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 14 in all, peaking in Sep 2026 with 4.
Appearances
core features of these technologies is that they diffuse.
There really is competition.
There isn't somehow control by the first mover.
China runs AI on an open source stack because it's trying to compete with the United States.
So it's trying to get users all over the world.
That means there's going to be a lot of open source
ways to access this very powerful technology and all these huge, huge revenues that are being anticipated by these companies that are now, you know, 50 times earnings or 100 times earnings or infinite because there are no earnings.
I don't think this is going to materialize in the way that is expected.
So on top of
the fundamental shift towards profits, which I think is real and deep, there is also, I think, a financial bubble that is underway.
Well, this has happened repeatedly.
These technologies we call GPT, general purpose technologies, which means something like the steam engine, which was the great invention of 250 years ago.
created the factory world and not just in one sector, but across the economy.
And it created the railroad and many other things.
Electrification was a general purpose technology.
AI is a general purpose technology, an extraordinarily powerful one in my view.
I don't believe it's hyped.
I think it's amazing and real.
But what you find with general purpose technologies is that generally they raise overall output in the economy, but dramatically redistribute the output as well.
In the first industrial revolution with the steam engine,
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