Billion-Dollar Baby
So, I've been hearing people talk about the idea of autonomous automation allowing for one-person, billion-dollar valuation companies. It's a topic that comes up on financial and technology podcasts from time to time.
And it's raised a question for me... What would these companies sell? Now, I get that it could be something new and wonderful that no-one has thought of yet, so I'm really asking what characteristics the goods and services they would offer would have.
Because if we're talking about a company that's 1 human being, and X number of automated agents, then anyone who has access to X number of automated agents could make the same thing. There could be other capital needs, but perhaps not, depending on what exactly it is that's being produced. So how does our one-person company protect its market(s) well enough to get to a billion-dollar valuation, rather than simply becoming a proof-of-concept for a number of other market actors? Would it need to be something where the primary market is people who don't have access to the same level of automation?
And, speaking of proof-of-concept, if our one-person company demonstrates that a whole class of goods/services could be produced entirely with automated agents, that could really do a number on the employment market. So does their product or service also need to be more-or-less downturn-proof? And how would that work in practice? Would it create demand for physical human labor in another area? Or would it be something that isn't aimed at the public at large? (Which goes back to the first question... because if other people could make their own version, anyone with the means to copy the product or service might not be a good long-term customer.)
In the end, I understand that talk of one-person, billion-dollar valuation companies is really about a level of techno-"optimism;" the idea that capital could create its own labor, and thus result in fairly big gains for the investor class... But I think that a lot of the speculation makes the implicit assumption that nothing else changes in the overall environment, and I suspect that wouldn't be the case. We'll see, I suppose, sooner or later.
