Ray Dalio’s Skepticism on Universal Basic Income and Its Impacts

OpenAI, Google, and other top tech companies hold great power with their AI models. These companies can rent their models to smaller firms. But they could also keep them to themselves. This way, they can dominate markets and make huge profits. Humans in those markets may find it hard to compete.

OpenAI talked about creating systems that could act like their own organizations. Imagine an AI can spin up 10,000 agents and form a digital company. This could wipe out competition and control large parts of the economy. Humans using the same AI tools might not be enough to level the playing field.

In a future where only a few companies own all the AI models, social mobility could vanish. People born into poverty might stay there forever. The gap between the rich and the poor could grow even wider. If AI does most jobs, human labor could become less valuable.

Physical jobs like carpentry might still exist, but not everyone can do them. People with physical disabilities might face even more challenges. This situation could lead to a dystopian society.

AI can also become a tool for surveillance. Imagine a Godlike AI system that knows everything happening in society. Governments could use AI to control and persuade people. Mid-journey level video could blur the lines between truth and lies. This level of control could make it hard for people to understand what is real.

The big question is how regulators will handle these tech monopolies. Only a few companies have the money and infrastructure to train huge AI models. It is not easy for every company to start their own foundation model. This concentration of power could lead to major issues.

Ray Dalio, a billionaire, does not believe in Universal Basic Income (UBI). He thinks cash handouts could fuel bad habits and harm good social programs. On the Lex Friedman podcast in 2019, he said that programs boosting productivity are a better bet.

Dalio's opinions might not be popular in the UBI space, but they offer a different view. He believes in programs with proven outcomes. His insights on how societies grow and fall are worth considering.

The rise of AI and its control by a few companies could change our future in significant ways. It is important to understand these issues and think about how to address them. Regulators, policymakers, and society as a whole must work together to find solutions.