If AGI is possible then that too becomes a commodity and we experience a massive round of deflation in the cost of everything not intrinsically rare. Land, food

If AGI is possible then that too becomes a commodity and we experience a massive round of deflation in the cost of everything not intrinsically rare. Land, food, rare materials, energy, and anything requiring human labor is expensive and everything else is almost free. I don't see how OpenAI wouldn't crash and burn here. Given the history of models it would be at most a year before you'd have open AGI, then the horse is out of the barn and the horse begins to self-improve. Pretty soon the horse is a unicorn, then it's a Satyr, and so on. (I am a near-term AGI skeptic BTW, but I could be wrong.) OpenAI's valuation is a mixture of hype speculation and the "golden boy" cult around Sam Altman. In the latter sense it's similar to the golden boy cults around Elon Musk and (politically) Donald Trump. To some extent these cults work because they are self-fulfilling feedback loops: these people raise tons of capital (economic or political) because everyone knows they're going to raise tons of capital so they raise tons of capital.