So Microsoft only has access to the "chaff" and not the "beans" of OpenAI?
Another interpretation is that if AGI is achieved it will be open available beyond OpenAI and accessed through other sources.
Whenever AGI happens — and assuming this isn't a singularity-type change, and assuming that the AI is friendly rather than a paperclip optimiser etc. — the meaning of real power and wealth will change again, even though money (as currently understood) and land will still exist.
Russia is the biggest country in the world, but at ~1.7% of global GDP (and ~1/16th of the USA's) it's not even close to being a world-leading economic powerhouse. Post-AGI, I expect that even the company with the highest earnings or market capitalization will be to the dominant {entity related to AGI but not necessarily the AGI itself because it doesn't have to be a person or an agent in its own right for this argument} as Russia is to the US.
real: late Middle English (as a legal term meaning ‘relating to things, especially real property’): from Anglo-Norman French, from late Latin realis, from Latin res ‘thing’.
An "estate" writ large is many things, including social and economic relationships, contracts, and instruments that are more ideas and behaviors than an actual "thing". Real in the sense of "real estate" means the physical part of an estate; the "things" you can touch. The real in real estate is not denoting what is the actual, *realized* value of the estate, which I think is what you're intimating.
YMMV
1) Abandoned cities are extremely rare throughout all of history. Most medium to large cities outlive the countries in which they were founded.
2) Even if this were the case, it doesn’t actually disprove the claim. All that’s evidence of is that occasionally, some forces can overcome positive pressure on prices. Yes systemic failure can sometimes (very rarely) knock a city out of existence, but this is very obviously extremely rare. Even Detroit is dramatically more expensive than it has ever been. The price of an acre in Wyoming is higher than it’s ever been.
3) That’s still assuming that abandonment is a definite sign of falling land prices, which isn’t true at all. Vacancy results from the inability to produce more value on the land than the land costs. Sometimes this is because the prices rise and sometimes because the cost of production rises, but never because the price of land went down: that would just mean more profit which means more reason to stay.
you can say "oh this statement is not supported" with rebuttal, but the rebuttal has "stock market goes up" built in.. this is not true over long periods of time generally due to war or other disaster.
more profit - more reason to stay.. Somehow we are not acknowledging Walmart here. In the USA, small towns functioned on having stores and other services.. sixty years later.. whole towns are dying due to a nearby Walmart, where people drive an hour+ to shop.
neither my statement or the rebuttal has all the relevant parts.. under construction. dynamic systems
AI, like the drill press or cotton gin, will increase how much value you can produce per square foot.
Landlords will reap the bulk of the benefit, we will still have people in completely destitute poverty and the bulk of people living roughly paycheck to paycheck.
It may also go up in relative terms, but yes it will go up in absolute terms too.
Very self evident: how is it that people paid for a place to live 1,000 years ago, and now there’s been all this technological productivity gains (several billion-fold?), and yet people still spend 30%+ of their productive output on a place to live?
Been thinking the same recently, but those specific numbers are a mix of wrong and misleading.
For wrong: productivity per person has only gone up by a factor of about 50x-100x, not billions.
For misleading: the homes were terrible back then. A thousand years ago (Beowulf-era Old English), a "hall" was simply a large room enclosed by a roof and walls. In Anglo-Saxon England (the latter end of which was still 1000 years ago), simple single-room buildings, with a lone hearth in the middle of the floor for both cooking and warmth, were the usual homes of a lord of the manor and his retainers, with the entire community eating and sleeping in that single room. Even just keeping those places warm in winter was a major effort. (I've seen a few of these at different stages of development at https://www.wealddown.co.uk, which just happened to be close to where I grew up as a kid; you may recognise some of the pictures from the first season of Good Omens).
The fancy castles and complex manor homes we like to think of from Ye Olde Tymes weren't normal homes for individuals any more than the White House is today, and almost all the buildings that survive were (in addition to being lucky) important enough to be built upon over the thousand years between then and now.
Two thousand years ago, by contrast, you could get a Roman Villa in Ye Olde England that had working toilets, running water, sub floor heating, mosaic decoration tile work, and more .. all for little more than the risk of an occasional onslaught by the woman next door and her bloody scythed chariot.
""" It is difficult to give even rough comparative values for money from before the 20th century, as the range of products and services available for purchase was so different. During the republic (509 BC–27 BC), a legionary earned 112.5 denarii per year (0.3 denarii per day). Under Julius Caesar, this was doubled to 225 denarii/yr, with soldiers having to pay for their own food and arms,[15] while in the reign of Augustus a Centurion received at least 3,750 denarii per year, and for the highest rank, 15,000 denarii.[16] """
Which corresponds to 13 years 4 months gross pay in the best case of the highest earner and cheapest villa, or 17,777 years for the worst case combination from those numbers.
[0] https://history.answers.com/ancient-history/How_much_did_hou...
[1] https://www.unrv.com/culture/roman-houses.php
[15] Adkins, Lesley; Adkins, Roy A.; Adkins, Both Professional Archaeologists Roy A. (2014-05-14). Handbook to Life in Ancient Rome. Infobase Publishing. ISBN 978-0-8160-7482-2. Archived from the original on 2023-09-04. Retrieved 2022-04-14. - https://web.archive.org/web/20230904145101/https://books.goo...
[16] appears to be the same link as 15, don't know why it's listed separately on Wikipedia
I suspect an upmarket villa rarely ended up in the hands of many who started out in the lowest ranks (save for a talented|lucky few grifters with good side earners going on while enlisted), connected sons from well off families who went straight to mid ranking | aide de officer roles and picked up "gifted lands" for service etc were perhaps more likely to get a swanky house on an estate.
That aside, the various Time Team and British digs that uncovered villas in the UK on estates found some very fancy, almost modern, housing with spas, plunge pools, stone ducted heated, etc.
The later Danes seem to have dropped the bar on quality of housing.