Why Does David Sacks Say AI Fears Are Rotating Hoaxes?

David Sacks says the problem is the affordability of housing, education, and healthcare, and that abundance is what brings the prices down. Technology, and specifically superintelligence, is the driver he names for the next decade. Judged by results rather than by what he calls fake narratives, he says the record is positive. 401k accounts are up. He cites The Economist for a million new jobs already. Productivity is up, and he says that lifts wages and living standards. He calls superintelligence a 3 percent tailwind to GDP and a driver of nothing but positive economic trends.

He says the public hears rotating hoaxes instead. Last year's hoax was that artificial intelligence would put everyone out of work. The next hoax was human extinction. Another host brings up data centers, and Sacks calls it the data center hoax: data centers using up everyone's water. Sacks says a new hoax shows up every six months to convince people to sabotage the technology he says will solve affordability.

Sacks says rentier interests oppose disruption because it loosens their control. He says technologists and VCs are hated because they are not part of the rentier class. In his account, rentiers draw wealth from existing assets, while technology has to produce new products and services that are cheaper or better or they do not catch on.