Hacker News
Do Markets Believe in Transformative AI?
MarkusQ
|next
[-]
I'm a firm believer in technological progress, but not so fond of group-think hype trains. The LLM/diffusion breakthrough(s) are huge, but they aren't what their rabid fans/neurotic critics are thinking.
mono442
|next
|previous
[-]
akomtu
|previous
[-]
thrance
|root
|parent
|next
[-]
delichon
|root
|parent
[-]
And the buyers. As a ballpark estimate, it would take around 50 hours of human labor to produce a shirt by hand, fabric plus sewing, versus about an hour of human labor by industrial machines. That lowers the cost greatly, which most consumers demonstrably value over custom tailoring.
thrance
|root
|parent
[-]
> Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
> But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
delichon
|root
|parent
|next
[-]
If "in the end" is now, it's pretty clear that automation has made clothing both better and cheaper. And paying $10 now for shoes of less than 1/5th value of $50 shoes much later, or not at all, can be entirely rational. Most of us make that kind of compromise frequently.
stoneforger
|root
|parent
|previous
[-]
delichon
|root
|parent
|next
[-]
asdff
|root
|parent
[-]
Now what if you made that same $5 a week as the shirt maker. Is that $22 shirt still cheap? How many might you own? Now think of what shirt the $5 week shirt maker is wearing. It says Chicago Bulls on it and was given to them by a nonprofit. The nonprofit only had this shirt available because people like him make 1000 shirts a day to sell to westerners to wear for a few weeks collectively before they give it for free to goodwill.
Does this seem like a sustainable, scalable system of resource and labor distribution to you? Or is it based entirely on the fact that there exist some orphan crushing machine still in some corner of the world to make it seem cheap and frictionless for those of us in the global 1%?