The paper take the logical thinking of AGI exists -> money will concentrate within the hands of labor-free CEOs -> They use that money to get whatever land they need from the public -> They continue to compete between each other, which creates a new form of government which is AI feudalism.
I agree on the money concentration (as we already see it happening) but we could argue that once we reach a very high level of money concentration, people won't be able to use it to live so money doesn't hold value anymore and won't be accepted as a way of payment anymore.
Which means AGI owners, will effectively be able to build anything they want theoretically but won't be able to fund anything in reality because people won't trust nor use their payment method, which would mean that even if AGI give what the ones building it promises, it will still move towards the economy collapse scenario
The paper take the logical thinking of AGI exists -> money will concentrate within the hands of labor-free CEOs -> They use that money to get whatever land they need from the public -> They continue to compete between each other, which creates a new form of government which is AI feudalism.
I agree on the money concentration (as we already see it happening) but we could argue that once we reach a very high level of money concentration, people won't be able to use it to live so money doesn't hold value anymore and won't be accepted as a way of payment anymore. Which means AGI owners, will effectively be able to build anything they want theoretically but won't be able to fund anything in reality because people won't trust nor use their payment method, which would mean that even if AGI give what the ones building it promises, it will still move towards the economy collapse scenario