SpaceX’s IPO has made Elon Musk the world’s first trillionaire, but the CEO spent the leadup to the moment espousing his belief that money won’t matter one day.
In a recent conversation with Peter Diamandis, an entrepreneur and executive chairman of the XPrize Foundation, Musk fleshed-out his moonshot visions for the future, which have previously included work being completely optional and retirement becoming inapplicable.
Musk said in a video clip Diamandis uploaded to X on Thursday that in an AI-powered world where robots serve humans, “AI and robots are going to make so much stuff and provide so many services that they’ll run out of things to do for humans.”
As a result, the output of goods and services will exceed the supply of money, effectively creating deflation. With cheap automated labor and no growth of the money supply because work is completed by robots instead of humans, there will be no need for currency.
“I think money will stop being relevant at some point in the future,” he said.
