That’s like saying we don’t need minimum wage or unions because companies choosing to treat workers with respect is also a possible outcome. It’s technically true but once you go from “is this theoretically possible?” to “is this likely?” it becomes obvious that the answer is no. Most of the big AI backers are openly salivating at destroying millions of jobs, and they’re already evading taxes now so they’re not going to be funding UBI willingly — and if you have any doubt, look at where their political spending goes, consistently to the people who are doing their best to remove what small taxes they’re still paying and declaring war on the concept of regulated markets.

I think a lot of those states are wondering how much protection they’d need if we weren’t based there and drawing fire. China can offer economic stability and sales of modern military equipment for self-defense, and I think the entire world is working through the implications of the United States allowing an unsound octogenarian to destabilize the dollar or declare a major war on a whim. There’s a lot to dislike about China but the gulf states aren’t exactly sticklers for democracy and stability is good for business.

Another factor seems to be the way corporate valuations have become increasingly untethered from actual value. It’s not like there isn’t historical precedent for people getting rich by luck but thinking they’re geniuses, but the tech world has become really weird about that in ways which amplify the previous no-filter point: it’s one thing to be, say, a Netscape millionaire but parlaying that into billionaire status really gets into the point where they never have to hear unwanted criticism and are guaranteed to be treated as sources of wisdom regardless of the applicability of their experience.