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)
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Source: Yahoo! Finance
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
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