Elon Musk Predicts Money Will Be Irrelevant in 10 Years

Elon Musk, the world's richest person, forecasts a future where money loses its significance within the next 10 years. He attributes this potential shift to rapid advancements in artificial intelligence and robotics, which he believes will usher in an era of "incredible abundance."

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Money won’t matter in 2036

In a wide-ranging interview with The Economist, Musk explained that machines will produce more goods and services than humanity can consume, rendering traditional concepts of wealth and employment less important. "Money won’t matter in 2036," he asserted, questioning the need for currency when AI and robots can fulfill all human needs. "What do you want money for? You want money for goods and services, right? If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for in that case?"

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What do you want money for? You want money for goods and services, right? If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for in that case?

Musk anticipates that widespread automation will not lead to economic hardship but rather to a "universal high income." He also noted China's potential to become a dominant force in AI due to its growing computing capacity, observing that Chinese tech companies are already making significant progress.

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I got a lot of flak from this

Reflecting on his recent involvement in U.S. politics as a senior adviser to President Donald Trump, Musk admitted he "got a lot of flak" for it. He also addressed criticisms regarding his political views and comments on immigration, rejecting allegations of racism. He pointed to his partner's Indian heritage and the naming of one of his children after an Indian physicist as evidence, stating, "I would say I’m not racist." He also highlighted the diversity of senior executives across his companies. However, when questioned about accusations of anti-Muslim views, Musk clarified his opposition is directed at individuals imposing values conflicting with Western societies, stating, "If people are coming to a country with antithetical views, I am against that."

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My partner is… she’s half Indian, and I have four children with her. One of them was named after a famous Indian physicist, so I would say I’m not racist