Time to Make Another Pass at Upstart Holdings

From the Desk of Don Yocham:

Let Dead Ideas Die

Some notions refuse to die, no matter how often they fail in practice.

Just look at how the related ideologies of socialism, communism, and Marxism continue to grip the minds of the masses.

I thought we buried these inhuman notions in the 90s – at least in America. But no matter the clear examples of failure, suffering, and abject misery brought on by the implementation of these ideas, they live on.

Another, even older idea that persists despite proof to the contrary is that technological progress destroys jobs.

It took root nearly 300 years ago during the Industrial Revolution. Textile automation spelled the end of the home seamstress. But the productivity brought on by this early innovation created wealth and opportunity to pull even more farmers out of the fields and into cities for more lucrative jobs.

And despite centuries of growth and progress, luddite fears persist even today.

Especially when it comes to how we think about artificial intelligence.