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Sorry, six-figure earners: Elon Musk says that money will ‘disappear' in the future as AI makes work (and salaries) irrelevant [Yahoo! Finance]

Tesla, Inc. (TSLA)  More Company Research Source: Yahoo! Finance
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
According to Elon Musk, none of that may matter for very long. The world's richest person believes money itself is on borrowed time. In a future workforce dominated by artificial intelligence and robotics, Musk says salaries will become nonexistent, and therefore, cash will fade into irrelevance. “I think money disappears as a concept, honestly,” the SpaceX and Tesla founder said on an episode of the People by WTF podcast. “It's kind of strange, but in a future where anyone can have anything, you no longer need money as a database for labor allocation. If AI and robotics are big enough to satisfy all human needs, then money is no longer necessary. Its relevance declines dramatically.” Essentially, if robots can build houses, grow food, manufacture goods, and even provide services like health care and education at a near-zero cost then wages stop being the mechanism that determines who gets what. Musk pointed to The Culture series by Iain M. Banks as his best “imagining” of t [Read more]
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Stockreport

Sorry, six-figure earners: Elon Musk says that money will ‘disappear' in the future as AI makes work (and salaries) irrelevant [Yahoo! Finance]

Tesla, Inc.  (TSLA) 
More Company Research Source: Yahoo! Finance
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
According to Elon Musk, none of that may matter for very long. The world's richest person believes money itself is on borrowed time. In a future workforce dominated by artificial intelligence and robotics, Musk says salaries will become nonexistent, and therefore, cash will fade into irrelevance. “I think money disappears as a concept, honestly,” the SpaceX and Tesla founder said on an episode of the People by WTF podcast. “It's kind of strange, but in a future where anyone can have anything, you no longer need money as a database for labor allocation. If AI and robotics are big enough to satisfy all human needs, then money is no longer necessary. Its relevance declines dramatically.” Essentially, if robots can build houses, grow food, manufacture goods, and even provide services like health care and education at a near-zero cost then wages stop being the mechanism that determines who gets what. Musk pointed to The Culture series by Iain M. Banks as his best “imagining” of t [Read more]
IMPACT SNAPSHOT
EVENT TIME:
TSLA
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Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
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High:
Low:
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%
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%
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%
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TICKS
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EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
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