‘This principle runs through most of the AI sector today. There’s going to be a lot of value generated that just accrues to society, and isn’t captured by any p

‘This principle runs through most of the AI sector today. There’s going to be a lot of value generated that just accrues to society, and isn’t captured by any private player. Which is wonderful, by the way—this is how technology becomes one of the few “free lunches” we have in society and macroeconomics. ‘There’s also going to be a lot of value generated that is simply captured by existing industry incumbents, using their market power and scale. That’s not a free lunch for society, but is also just how capitalism works and often still generates “surplus” (Econ speak for “good stuff”) for society.’ The first paragraph is also just how capitalism works, and it arguably works better than other systems at generating uncaptured value.