Elon Musk Proposes a New Power Replacing Money Amidst a technology-driven world, the renowned tech billionaire suggests that money has been supplanted by an alternative source of influence: information.
According to the Bloomberg Billionaires Index, Musk currently holds the title of the world's wealthiest individual, with a staggering fortune valued at $199 billion as of June 3.
As a prominent figure, Musk often finds himself in the spotlight, particularly when elected Democrats criticize the 1% for allegedly not paying their fair share of taxes. Musk, however, refutes these claims and serves as a target for allegations of tax inequality.
Addressing the matter, he clarified on December 19, 2021, "For those wondering, I will pay over $11 billion in taxes this year."
Undeterred by his detractors, the billionaire has long emphasized his mission to revolutionize civilization and leave an enduring legacy. He firmly asserts that his motivation extends beyond monetary gains. Musk has set an ambitious goal for SpaceX, his aerospace company focused on rocketry and satellites—to develop a spacecraft that enables human colonization of Mars. This extraordinary rocket bears the name "Starship" and, despite facing setbacks like an explosion shortly after its first orbital flight on April 20, another launch attempt is anticipated for the summer, as Musk has indicated.
Musk Declares: Information Reigns as the New Currency As Tesla continues its mission to propel the world towards a sustainable energy economy, Elon Musk envisions a future where electric vehicles reign supreme, even extending a hand to competitors by opening Tesla's supercharging network. A recent agreement with Ford exemplifies this collaborative approach.
During Tesla AI Day in October, the visionary tech entrepreneur encapsulated his philosophy and aspirations for a "future of abundance" by showcasing the progress of Optimus, the humanoid robot set to revolutionize the labor landscape.
Musk expressed, "This means a future of abundance, a future where there is no poverty, where people can have whatever they want in terms of products and services. It really is a fundamental transformation of civilization as we know it." He emphasized the importance of a corporate entity that is influenced by the public, asserting that Tesla's structure is ideally suited for such a purpose.
In a recent Twitter thread, Musk solidified his stance by proclaiming that money has been supplanted by a different source of power—a form of currency rooted in information. This statement came in response to a Twitter user who highlighted ChatGPT, an innovative chatbot that underscored the transfer of communication and information as the modern concept of money.
Musk Acknowledges: Money is Merely Information When confronted with a user's query regarding the nature of money and its connection to information, Elon Musk, a supporter and critic of AI, acknowledged the shifting paradigm.
The user delved into the digital landscape, noting that money predominantly exists as electronic records in banking systems. Whether in physical or digital form, the essence of money lies in the transfer and communication of information. It carries vital data about value, ownership, and transaction history—integral to economic activities and the functioning of financial systems.
The user further expanded, stating that money itself can be viewed as a representation of information. Its value stems from the trust and belief rooted in information about scarcity, stability, and acceptance within an economic system. This trust is established through shared knowledge about the currency, its issuing authority, and the underlying economy.
Musk, who has shown support for AI as an early backer of OpenAI, the organization behind ChatGPT, resonates with this evolving power structure. He concurred with the sentiment, asserting, "Money is just information," recognizing the transformative nature of this perspective.
The Rise of the Singularity: Elon Musk's Role Accompanying the thought-provoking Twitter thread was a striking photomontage featuring a figure standing atop a tower adorned with oversized coins, overlooking distant cities. The thread's author introduced themselves as a chronicler of the Singularity—the hypothetical point in time when technological advancement leads to the creation of machines surpassing human intelligence.
The Singularity signifies an era where technological progress outpaces human control, comprehension, and predictability. Musk, known for his cautionary remarks on the rapid development of AI, has compared the technology's potential danger to that of nuclear power.
At the heart of AI's evolution lies information, which is crucial for training machine learning models powered by Large Language Models. The race between major tech companies and startups to create robust AI tools and achieve artificial general intelligence (AGI)—the point at which machines can comprehend and learn anything humans can—has made information an exceedingly valuable commodity. Essentially, possession of information equates to wielding power.
Musk, recognizing the significance of AI, is actively constructing his own AI platform. Tesla also leverages data from its customers to enhance Full Self Driving (FSD), the company's driver assistance system designed to enable autonomous driving in the near future. As the pursuit of AI advances, the role of information becomes increasingly paramount.