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You might be right, but my idea on it is that productivity increases have leveled off and population will begin falling in our lifetime. The ruling class loses power historically when the supply of labor is impacted.
Why do you think they're all desperately pretending that LLMs are gen AI? They want to secure their revenue without having to care what the plebs do.
and we both know governments both today and throughout history protect the rich and money over people...
You're both right. You are in that their influence will wane, but they're right in that it won't be fast or pretty.