Web3: Saylor Refutes Musk's Claim That Currency Loses Meaning

CoinWorld reports:

According to foreign media, Michael Saylor, founder of Strategy, disagrees with Musk's assertion that AI will ultimately render currency meaningless. He believes that while artificial intelligence may lower the costs of healthcare, housing, and everyday services, it will not eliminate wealth disparities; rather, it will shift consumption towards scarcer assets and higher-level services.

Saylor Claims Currency Still Has a Role
In an interview released last week, Saylor stated that even if AI makes many basic goods nearly free, people will continue to pursue larger houses, more private healthcare services, and high-end consumption that serves as a status symbol.

According to him, society will not stop comparing simply because basic supplies are more abundant. On the contrary, as the general standard of living rises, new scarce goods will continue to emerge, and currency will still play a role in allocating these scarce resources.

Technological Advances Raise Luxury Barriers
Saylor illustrated this point with historical changes. He noted that clean drinking water, modern healthcare, and safer living environments were once conditions enjoyed by only a few, but have now become common in many developed economies.

However, he believes that the diffusion of technology has not ended the pursuit of a better life; it has merely shifted the boundary between "basic needs" and "luxury consumption" upwards. After cars became widespread, the market still differentiates between regular and high-end models; when food supply is abundant, consumers are still willing to pay a premium for a higher-end dining experience.

Discrepancies in Wealth Structure
Musk has repeatedly stated that as AI significantly boosts production efficiency, work may no longer be necessary, goods and services will become extremely abundant, and society may even move towards "universal high income," thus diminishing the importance of currency.

Saylor does not deny that AI will bring stronger productivity gains, but he believes the real issue is not whether basic materials become cheaper, but whether scarcity disappears. As long as land, unique assets, private services, and social status remain scarce, currency will not exit economic activity.

The article also mentions that Demis Hassabis, chairman of Google DeepMind, and investor Vinod Khosla, among others in Silicon Valley, are optimistic about the high growth and high supply prospects brought by AI. However, Khosla also pointed out that whether the benefits of AI can be more widely distributed still depends on how the government addresses issues of job displacement and income inequality.

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