Billionaire Marc Andreessen warns we're headed into a world where a college degree costs $1 million and a flatscreen TV costs $100
Billionaire investor Marc Andreessen warned that the prices of education, healthcare, and housing are"going to the moon," in a"We are heading into a world where a flat screen TV that covers your entire wall costs $100, and a four year college degree costs $1 million, and nobody has anything even resembling a proposal on how to systemically fix this," Andreessen said.
The Silicon Valley investor said that sectors provided or controlled by the government have become"technologically stagnant." Innovation in certain highly regulated sectors, like education and healthcare,"is virtually forbidden," causing high prices, he wrote. Andreessen said that over time the price of highly regulated products will continue to climb, while less-regulated products, like flatscreen TVs, will become cheaper.
Data like this — which he says is caused by regulation — makes him less concerned about AI innovation replacing jobs, despite the current"panic." "Those industries are monopolies, oligopolies, and cartels, with extensive formal government regulation as well as regulatory capture, price fixing, Soviet style price, occupational licensing, and every other barrier to improvement and change you can possibly imagine," Andreessen said.
Since ChatGPT was released in November, the chatbot has spawned speculation that the technology could eventually replace some workers. Insider previously reported that some jobs could be at a
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