mj

Matthew Barnett outlines several possible mechanisms of wage decline.

First, if AI results in a massive increase in labor supply, capital could become more of a constraint than labor. The returns to additional labor—machine or human—go down while those to capital go up. This means lower wages and higher returns to capital.

Second, when production r... See more

Before this, being early to niche things meant primarily winning points in a subcultural status game, now it was suddenly associated with very real material and financial consequences.

The creative director differs from the hipster in the fundamental way that ultimately, the creative director wants (and perhaps even more so, needs ) to make money. Being early and reveling in obscurity carries limited value to them.