AI Has an Uber Problem

“The economic problem of society…is a problem of the utilization of knowledge which is not given to anyone in its totality.”

—Friedrich A. Hayek, “The Use of Knowledge in Society”

Silicon Valley venture capitalists and many entrepreneurs espouse libertarian values. In practice, they subscribe to central planning: Rather than competing to win in the marketplace, entrepreneurs compete for funding from the Silicon Valley equivalent of the Central Committee. The race to the top is no longer driven by …

economic entrepreneurs knowledge marketplace planning practice silicon silicon valley society uber valley values venture venture capitalists