Also, the cost of most of the stuff I (have to) buy (i.e. rent, groceries, ...) is not dominated by the wage of knowledge workers.

Or to put it differently: If AI makes me lose my job but doesn't decrease my rent, I'm in a really bad position.

Agreed. So I don't think it's a bubble.

Will also be good for consumers in the long-term: much faster pace of drug discovery and new tech generally.

I'm not arguing it's a bubble. I'm arguing it's not going to be a "gigantic benefit" for society.

> Will also be good for consumers in the long-term: much faster pace of drug discovery and new tech generally.

Medicine and tech that knowledge workers won't be able to pay for without a job. I also don't think "new tech" is necessarily a good thing societally.

The calculus is easy, really: AI makes 100% of my income worth less but only decreases the cost of a fraction of my expenditures. AI is bad for anyone that works for a living. That's pretty much all of society except for the top x%.

The hard trades and manual labor services we consume for everything that matters daily? That's not going to be made cheaper by AI.