But if they succeed with agentic reasoning models (we are absolutly not there yet) then I think meritocracy will be replaced with assetocracy. The better the model, the more expensive it will be and the better the software will be.
I don’t worry about it myself, but I do worry for my kids. Im not even sure what to teach them anymore to have a shot at early retirement (and they keep raising the retirement age too).
It does not matter what your income is if you cannot budget and save.
Risk too is sort of a red herring. Just buy in whenever it dips, and you are set. Diversify just enough to dilute the aggregate risk, and it practically disappears.
Savings are not even possible with low income, only with medium to high income. The lesson to learn is to avoid wasteful excessive spending that benefits oneself only in the moment.
That's an interesting neologism, but the existing term for "rule by whoever controls the most expensive assets" is "capitalism"
Capitalism certainly favors those with the most... capital, but there are quite a few other factors. Market fit, efficiency, etc. The Dutch East India Company had the most assets, yes, but also the best ships and a killer (literally) business model.
The notion of a sector where success is determined almost entirely by who can stockpile the most assets (GPUs in this case) is a somewhat unique situation and probably merits its own term