Billionaire Michael Saylor says Elon Musk is wrong about AI making money irrelevant: ‘Everybody doesn’t get their own private jet’

Elon Musk has been a strong advocate for artificial intelligence's potential to transform the world, envisioning a future where work becomes optional, goods and services become abundant, and money may lose its relevance due to AI's advancements. However, fellow businessman Michael Saylor, founder of Strategy, a software firm heavily invested in Bitcoin, isn't as convinced.

During a recent interview, Saylor pointed out that not everyone will get a Hampton's house, private jets, or yachts, challenging Musk's predictions. While Saylor acknowledged that AI could make necessities dramatically cheaper or even free, he argued that it won't render money obsolete. He explained that as basic goods become widely available, people will start focusing on scarcer goods that signify wealth and status.

Saylor believes humans are inherently status-oriented, always seeking something more. Drawing historical parallels, Saylor cited how technological advancements have made necessities like clean water, advanced medicine, and safe lives accessible to many, yet not everyone got dental crowns or X-rays, emphasizing that abundance doesn't reduce the desire for luxury.