In a recent episode of the podcast "Theories of Impact," former Stability AI CEO Emad Mostaque made a startling claim: artificial intelligence (AI) will not only replace a large number of jobs in the next 1000 days, but will also completely transform the structure of the human economy. His new book, "The Last Economy," explores this theme, with Emad arguing that as AI develops rapidly, the value of human labor may become zero, or even negative.
Emad originally worked in finance and later founded Intelligent Internet. He mentioned on the show that the current economic system is undergoing a "collapse" and that a new "last economy" driven by AI will emerge. In this new economy, traditional economic indicators such as gross domestic product (GDP) will no longer be applicable, and the value of human labor and the fundamental composition of the economy will be redefined.
To address this transformation, Emad proposed a new economic measurement model called the "MIND framework," which focuses on four types of core capital: physical capital, intellectual capital, network capital, and diversity capital. He pointed out that modern economies should emphasize "liquidity" and "resilience" rather than a single GDP indicator. Only by effectively measuring these new variables can we better understand how the economy works and changes.
Emad also discussed four significant economic "turning points" in human history, each representing a fundamental shift in economic power and the way value is created. He believes we are currently in the stage of the last turning point, and the rise of AI will dominate future economic development. As AI gradually replaces cognitive labor and traditional mental work, the position of humans in the economy will face major challenges.
Against this background, Emad emphasized the importance of re-evaluating the other three types of capital to build a more stable and prosperous society. His views not only reveal the profound impact of AI on the economy, but also provide new perspectives for individuals and society to deal with the coming changes.
Key Points:
💡 AI will replace a large number of jobs and reshape the human economic structure within the next 1000 days.
📉 The value of human labor may become zero, or even negative.
🔍 Emad proposed the "MIND framework," emphasizing the importance of physical, intellectual, network, and diversity capital.
