Elon Musk may be among the most optimistic forecasters about artificial intelligence reshaping the world. He predicts that work will no longer be a necessity for people, and goods and services will become abundantly available; as AI drives society toward "universal high income," money might even lose its purpose. However, fellow billionaire Michael Saylor disagrees with this outlook.
Last week, Saylor appeared on the podcast CEO Diary, where host Steven Bartlett asked if he agreed with Musk's predictions about AI. Saylor responded, "It's impossible for everyone to have a Hamptons mansion, a private jet, or a private yacht."
Saylor is the founder of the software company Strategy (formerly Microstrategy), with Bitcoin serving as a core pillar of its business. While he acknowledges that AI could drastically reduce the cost of necessities, even making them free, the 61-year-old entrepreneur believes that the value of money will not completely disappear.
According to Saylor, when basic goods become easily accessible, consumer demand will only shift toward scarce items that signal wealth and social status.
The billionaire, worth $3.3 billion, stated, "Even if universal healthcare is available to everyone, people will still seek private, high-end medical care. Even if everyone gets a home, some will want a house twice as large. Humans inherently value status, so they will always strive for better things. It's a realistic and somewhat pessimistic view."
Saylor argued that history supports his perspective. Technological advancements have already made many necessities cheaper and more widely available. For example, clean drinking water and advanced medical treatments are now standard in most developed countries, yet these were luxuries that even royalty could not reliably enjoy in the past.
"King Henry VII couldn't get a crown or an X-ray," Saylor remarked. "But we now have modern medical services. Infant mortality has dropped significantly, and our lives are safer. Clean water, fresh air, and safe food—these are gifts from technology."
However, he contends that material abundance will not eliminate the desire for better things; instead, it will only raise the bar for what is considered a luxury.
"What happens after material wealth becomes abundant? Everyone gets basic necessities, but top-tier scarce resources will always be in short supply," Saylor explained. "Everyone can have a car, but how many can afford a Porsche? Human society will always create new high-end luxuries and build scarce assets to signal status."
Modern dining habits also illustrate that abundance does not mean people stop pursuing premium experiences.
"You see this in New York City all the time: why would someone spend $300 at a high-end restaurant when they can eat for $3 a day?" Saylor said.
This article is sourced from Sina Finance and edited by Yu Jian SF069.
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