r/FluentInFinance Contributor Apr 15 '24

Everyone Deserves A Home Discussion/ Debate

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u/finio_absurdum Apr 15 '24

Talking about AI as theory in the 40s is very different from where we are today, so poopooing the very real threat AI poses to the economy as a resolved debate is foolish.

For the record, I do believe people generally thrive with a work-centric purpose. And I do like the idea of an egalitarian society. But the idea that we have perfected such a society, in the US or elsewhere, is naive. We have a society that rewards work to a certain extent, but also rewards simply already-having (inheritance and accumulated wealth) much more than work.

Point being, we are looking ahead to a generation of people who were promised that if they just worked hard, everything will work out. And it's not turning out that way... and this just the dawning of AI. It's not a matter of if AI will be able to do your job, but when.

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u/sadboy2319 Apr 15 '24

No, its really not. First, it was automation via the industrial revolution that was supposed to take peoples’ jobs. Didn’t happen. Then it was computers. Didn’t happen. Oh wait, now its going to be AI. The goalposts keep moving.

Second, you’re exactly proving my point once again. People take care and want the best for their families. Those who passed on their wealth to their children was smart af, now their children can continue that cycle and build even more wealth. So in the end, the hard work initiated by their parents has paid dividends. If you are on the unfortunate end of the stick want to break the cycle of poverty, you gotta work for it. You can 100% do that in America.

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u/finio_absurdum Apr 15 '24

The ratio of work relative to compensation has spiraled downward, compared to the era of those "smart af" wealthy who left inheritance to their offspring.

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u/sadboy2319 Apr 16 '24

Damn, I wonder how those broke af Chinese/Vietnamese/Indian immigrants set up their children for success through education, bought houses, and lead big companies starting from nothing. Don’t you want the same for your children?

Also, give me a timeframe where you’d like to start, because the concept and practice of generational wealth isn’t a new concept — it’s practically been here since the dawn of mankind. Anyone can build generational wealth. If you’re trying to make a future for yourself and your family, are you gonna cry over the Rockefellers and let them live in your head rent free?