Jesse Heasman

VC / angel / building

[MTS @MTSlive]

Dr. Mike Israetel on the economic fallacy he says explains why AI won't cause mass unemployment:

"Once we have 4 billion robots doing labor in the world, which we're like orders of magnitude off of that currently, then we've just only doubled the human workforce."

"From 1700 to today, we've 10 or 20x'd the human labor force. And, seemingly, the economy's not like, ah, we don't need any more people, that's enough. We could just consistently have better jobs and pay people even more money."

"This idea that robots are gonna show up and all of a sudden we're all completely unemployed makes a technical fallacy in economics called lump of labor fallacy. It's the idea that all the jobs currently are the only jobs that could be."

"Imagine in 1750, you're like, well, 98% of us work in farming, and then you come back from the future and you're like, you guys, 2% of people in the 1990s work in farming. It'd be like, so everyone's starving to death? Like, no, no, we're super fat, actually."
@misraetel

[Jesse Heasman @jesseheasman]

@SebJohnsonUK @UKSovereignAI @leicesterliz

[Jesse Heasman @jesseheasman]

@SebJohnsonUK @UKSovereignAI @leicesterliz Energy and planning baby

[Jesse Heasman @jesseheasman]

great shout

[Mike Solana @micsolana]

actually productive members of society need to unionize, perhaps

[Marc Andreessen 🇺🇸 @pmarca]

(1) What

[Brian Armstrong @brian_armstrong]

Finally, the web has native monetization. Ads were not the only way.

[Jesse Heasman @jesseheasman]

@ollieforsyth So jarring. Seems particularly so as the yanks celebrate 250 years of independence / freedom

[Jesse Heasman @jesseheasman]

@alexfmac Hope this story blows up and journos give it some proper air time

[Harry Stebbings @HarryStebbings]

I would say how I feel about this but I am legitimately nervous I will get in trouble for doing so…

This is a sad state of affairs.

[Jesse Heasman @jesseheasman]

This really is wild, and gently authoritarian

[Sam Bowman @s8mb]

Seems crazy but it’s real. They’re consulting on plans to downrank independent YouTubers in favour of “the beloved shows and valued services that the nation’s trusted and regulated broadcasters provide” on misinformation grounds. https://t.co/ZEm06fk9XF

[Jesse Heasman @jesseheasman]

@mikebutcher Devolved done properly looks like the States which means firms and people can vote with their feet - that would be exciting

[Jesse Heasman @jesseheasman]

great shout. very Trumpian from Burnham

[Sam @Discoplomacy]

Brilliant stuff, more vibes-based policy decision making. This is what demagogues do btw. To put it differently: imagine if Nigel Farage won power and then decided to cut contracts with organisations he did not ideologically agree with, citing them as ‘woke’ or similar.

[Jesse Heasman @jesseheasman]

Why stop here— What’s the point of the combustion engine? Bring back horse drawn carriages!

[Rowland Manthorpe @rowlsmanthorpe]

Interesting FT piece with some more detail on Andy Burnham's AI strategy, including a reassessment of driverless cars in London

Slightly strange use of the word "headlong" to describe a multi-year process to adopt something that's already commonplace in the US and China

[Jesse Heasman @jesseheasman]

@peterrhague 😂😂

[Ara Kharazian @arakharazian]

We can finally say AI isn't killing jobs.

A new paper from me, @tryramp, and @RevelioLabs uses firm-level spend and workforce data across 21K U.S. businesses to measure AI's impact on jobs.

Firms that adopt AI heavily grow headcount 10% over two years following adoption. Low adopters see no statistically significant change.

[Jesse Heasman @jesseheasman]

@theoldbatsman Duckett.??

[Jesse Heasman @jesseheasman]

A devolved London would be absolutely baller - here for it

[Seóirse Duffy @Seoirse_]

Burnham's speech is bigger for what it doesn't say. All this focus on industrialisation, without seemingly any recognition that industry in Britain struggles because of Government policy - on energy costs, regulatory costs, employment costs, and so on. Pure vibes

[Beff (e/acc) @beffjezos]

Same sort of sentiment as being anti-nuclear energy, anti-AI, anti-space.

Decel sentiment is suicidal and anti-civilization.