AI Agents Could Trigger a Bank Run
Agents collapse the cost of time and effort and it's going to lead to some bizarre second-order effects.
There is a layer of businesses that can exist because something is too tedious, time-consuming or expensive for a human.
Maybe a good example of consumer agents. While I agree with @benthompson that consumers don't want to be more productive, they do want things to be cheaper!
Yano 🟪@JasonYanowitz
Fascinating.
Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits.
