Jim Chanos, famous short-seller and founder of Chanos & Company, recently spoke to the Institute for New Economic Thinking about crypto, Tesla, and AI. He provided four key insights about the sector.
Chanos said that the crypto sphere is well-suited for the dark side of finance. He believes that recent efforts by investing giants to establish the first US bitcoin spot ETFs are another iteration of flimflammery.
The short-seller expressed his views on Tesla as well. He said that, despite the recent United Auto Workers strike which afforded pay increases to union workers, Tesla has many more employees per vehicle produced than the American companies do.
Finally, Chanos warned of the potential disruption AI could have on the economy. He argued that similar to the internet, AI could create a lot of businesses and wealth, but also destroyed a lot as well. He advised that businesses must think through all the iterations of AI to prevent redundancies.
