Historically, the most advanced economies have always been the most technologically advanced. By definition, technology is the use of science to make labor-saving devices. With AI, we will be saving so much labor that we won’t know what to do with itall. That is where social science must come into the picture and plan a way of sharing the productivity gains that result from automation. Capitalism is not very efficient at sharing…and is in danger of hanging itself with its own success.

Forty years of private equity trading, and still learning.