{"id":4672,"date":"2023-11-09T20:33:27","date_gmt":"2023-11-10T04:33:27","guid":{"rendered":"https:\/\/qpr.ca\/blogs\/?p=4672"},"modified":"2023-11-09T20:33:27","modified_gmt":"2023-11-10T04:33:27","slug":"misunderstanding-concentration-of-wealth","status":"publish","type":"post","link":"https:\/\/qpr.ca\/blogs\/2023\/11\/09\/misunderstanding-concentration-of-wealth\/","title":{"rendered":"Misunderstanding Concentration of Wealth"},"content":{"rendered":"<p>In\u00a0<em><a href=\"https:\/\/www.economist.com\/leaders\/2023\/11\/09\/how-artificial-intelligence-will-transform-fame\">How Artificial Intelligence Will Transform Fame<\/a><\/em>, the editors of <em>The Economist<\/em>\u00a0 (of all people!) display a complete misunderstanding of the economics of wealth concentration. In particular, they allege that &#8220;. . the famous folk complaining the loudest about the new technology are the ones who stand to benefit the most. Far from diluting star power,\u00a0<small>AI <\/small>will make the biggest celebrities bigger than ever . . .&#8221;<\/p>\n<p>I am not taking any position on whether or not the use of AI will actually lead to this concentration of audience interest but if it does then I would say that the current crop of media stars actually do have a lot to worry about.<\/p>\n<p>In fact, just as in any other case of a technological or social change leading to more concentrated ownership of limited resources (in this case attentive audience members &#8211; aka eyeballs), those who are currently at the top of the heap actually have the most to lose as only a small fraction of the current &#8220;stars&#8221; will become the next round of &#8220;superstars&#8221; &#8211; with the rest actually losing rather than gaining and falling back closer to those they just pulled ahead of in the previous round.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In\u00a0How Artificial Intelligence Will Transform Fame, the editors of The Economist\u00a0 (of all people!) display a complete misunderstanding of the economics of wealth concentration. In particular, they allege that &#8220;. . the famous folk complaining the loudest about the new &hellip; <a href=\"https:\/\/qpr.ca\/blogs\/2023\/11\/09\/misunderstanding-concentration-of-wealth\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4672","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/posts\/4672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/comments?post=4672"}],"version-history":[{"count":1,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/posts\/4672\/revisions"}],"predecessor-version":[{"id":4673,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/posts\/4672\/revisions\/4673"}],"wp:attachment":[{"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/media?parent=4672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/categories?post=4672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qpr.ca\/blogs\/wp-json\/wp\/v2\/tags?post=4672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}