Tyler Cowen

It's the bundle, and the bundles are scarce, and then the bundles interacting with the rest of the world.

Like, just try going to a mid-tier state university and sit down with the committee designed to develop a plan for using artificial intelligence in the curriculum, and then come back to me and tell me how that went.

And then we'll talk about bottlenecks.

They will write a report.

The report will sound like GPT-4 and we'll have the report.

The report will not be bottlenecked, I promise you.

They'll be smart and they'll be conscientious.

That I strongly believe.

Look, I think they will boost the rate of economic growth by something like half a percentage point a year.

Over 30, 40 years, that's an enormous difference.

It will transform the entire world.

But in any given year, we won't so much notice it.

And a lot of it is something like a drug that might have taken 20 years, now will come in 10 years.

But at the end of it all, it's still our system of clinical trials and regulation.

And if everything that took 20 years takes 10 years, over time, that's an immense difference.

But you don't quite feel it as so revolutionary for a long time.

There's diminishing marginal returns to most of these factors.

So a simple one is how it interacts with regulation, law, and the government.

Another huge one is energy usage.

How good is our country in particular at expanding energy supply?