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BlackRock CEO Larry Fink: 'What Happens to Everyone Else If AI Fuels Inequality?

10 points by bilekas

by NietzscheanNull

1 subcomments

Found this interesting given the source:
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  "If AI does to white-collar work what globalization did to blue-collar, we need to confront that directly," Fink told the crowd in Davos
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Seemed oddly progressive coming from Fink, until reading a bit further.
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  Fink's prescription, offered in a conversation at Davos with Nvidia CEO Jensen Huang, was for pensions to invest more in AI infrastructure—the kind of assets BlackRock manages.
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There it is, predictable as clockwork. If anyone needed any further evidence of how detached the worldviews of elites have become lately, there's this jewel of a closing quote from Fink:
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  "We need to make sure that the average pensioner and the average saver is part of that growth," he said. "If they're just watching it from the sidelines, they're going to feel left out."
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It would seem that in Mr. Fink's view, the greatest threat facing those in the bottom half of the wealth distribution (who have seen their share of wealth contract by nearly 50% since '81, per article stats), is feeling a bit of FOMO. Not food insecurity, not teetering on the edge of bankruptcy due to a medical mishap, not the specter of homelessness forever looming, just... "feeling left out."

by mitchbob

2 subcomments

Maybe everyone else can vote for representatives who support progressive taxation [1] that works.
[1] https://en.wikipedia.org/wiki/Progressive_tax