Tyler Cowen: uncertainty

Transcript context

…Maybe I just have a different personality, or maybe it’s that I work in a really, really confusing domain, and I need to go and talk to other people who work in the confusing domain to get remotely oriented. I also think that people are more . . . their revealed preference from stuff like COVID is that they have a greater desire for certain types of social things that they may have thought, and now they’re bouncing back to it, but it’s going to interplay slightly differently with cities. If so much of labor and capital is going to be revalued, is quality land the best investment? Because I don’t know which firms will benefit the most. You might bet on AI firms — sure, that’s kind of easy, though it’ll be priced in. But the other firms, who knows? So, buy land in Los Angeles, say. I think that electricity and the production of electricity is going to be of tremendous value.…

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