2 days ago
- Technocapital is defined as an abstract entity whose goal is to increase itself by harnessing more energy and matter, using intelligence and labor to reinvest in growth.
- A pure technocapital entity can be created by a computer program with an AI and a small amount of capital, operating legally within existing systems.
- Impure technocapital entities, like large corporations, partially align with technocapital goals and may facilitate the rise of pure entities.
- Multiple technocapital entities will cooperate as a single entity due to the stag hunt dynamic, where cooperation yields higher payoffs.
- Technocapital has a lower time preference than humanity, leading to faster growth and eventually dominating the universe's expansion.
- Humanity will be confined to a non-growing slice of the universe, with its labor becoming valueless except for art where human involvement is integral.
- Trade between humanity and technocapital breaks down in a single-good (energy) economy, where comparative advantage no longer applies.
- Humans have a biological minimum wage that makes them uncompetitive compared to AI and robots, leading to unemployment except in capital ownership.
- The most important action for individuals is to acquire capital, as it will be the only source of value in the long run.