Paul Christiano: If the world continues to go, well … If all that happens is that we build AI, and it just works the way that it would work in an efficient market worlds, there’s no crazy turbulence, then the main change is, you shift from having … Currently two-thirds of GDP gets paid out roughly as income. I think if you have a transition too human labor being obsolete then you fall to roughly zero of GDP is paid as income, and all of it is paid out as returns on capital. From the perspective of a normal person, you either want to be benefiting from capital indirectly, like living in a state that uses capital to fund redistribution, or you just wanna have some savings. There’s a question of how you’d wanna … The market is not really anticipating AI being a huge thing over 10 or 20 years, so you might wanna further hedge and say … If you thought this was pretty likely, then you may want to take a bet against the market and say invest in stuff that’s gonna be valuable in those cases.
I think that, mostly, the very naive guess is not a crazy guess for how to do that. Investing more in tech companies. I am pretty optimistic about investing in semiconductor companies. Chip companies seem reasonable. A bunch of stuff that’s complimentary to AI is going to become valuable, so natural resources bid up. In an efficient market world, the price of natural resources is one of the main things that benefits. As you make human labor really cheap, you just become limited on resources a lot. People who own Amazon presumably benefits a huge amount. People who run logistics, people who run manufacturing, etc. I think that generally just owning capital seems pretty good. Unfortunately, right now is not a great time to be investing, but still, I think that’s not a dominant consideration when determining how much you should save.
From a 80000 hours interview with Paul Christiano, 2018.