Elon Musk Claims No Need for Money in the AI Era, Saylor Disagrees

Elon Musk and Michael Saylor presented opposing views on the impact of AI on the economy. Musk predicted that AI and robots would increase productivity, ushering in an era of 'universal high income.' In an interview with China Central Television (CCTV) last week, he explained that AI would enrich the economy. In contrast, Saylor rebutted that even with an abundance of basic goods, the desire for scarce goods would persist. He disagreed with Musk's assertion on the 'Diary of a CEO' podcast, pointing out that not everyone can own luxury homes or private jets. Saylor explained that while the prices of essential goods may decrease due to AI advancements, money will not disappear but will shift towards scarce goods as consumption targets. His argument is also linked to Bitcoin's supply limitation, as Bitcoin is capped at 21 million, giving it scarcity. The strategy co-founded by Saylor recently sold 3,588 Bitcoins and has been buying back since September, currently holding 847,666 Bitcoins worth approximately $7.1 billion.

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