Do More! What Amazon Teaches Us About AI and the “Jobless Future”
Tim O'Reilly

After reading this, which starts to answer (and answer well) some questions about where where the surplus value of AI and automation go… I am wondering what you think about the recent news that Amazon has basically become a bank?

Since the dawn of capitalism in Florence when the Medicis realized they could make quicker and easier profits via lending instead of manufacturing (in their case textiles), this switch has tended to drive wages down below livability -families stop having children and there in no next generation of workers and consumers. Eventually both the lenders and the political entity which becomes tied to the financial system go bankrupt (too big to fail). We see this in the recent bailouts of U.S. financial firms by an already indebted government. In the case of the Medicis, they raided the Florentine treasury but it was still not enough to fend off eventual bankruptcy for both the Medicis and the city…