On July 17, 1945, seventy of the scientists who built the atomic bomb signed a
petition to the President of the United States. They had spent three years
building the thing. Now they wanted Truman to hear, from them, what it was
about to do. ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀
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Сⅼіϲkhеrе and I'll reveal the shocking details.
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On July 17, 1945, seventy of the scientists who built the atomic bomb signed
a petition to the President of the United States.

They had spent three years building the thing.

Now they wanted Truman to hear, from them, what it was about to do.

That letter never reached him.

It sat in the chain of command until after Hiroshima, and it stayed
classified until 1961.

I bring this up because on July 13 of this year, it happened again.

Just 88 words, posted on a website almost nobody visited.

“AI may become radically more powerful over the next 10 years,” it begins.

It goes on to warn of “an unprecedented transformation of our economy, larger
than the Industrial Revolution, but unfolding over a vastly shorter time frame,”
with“risks, including large-scale job displacement.”

17 Nobel Prize winners have signed that letter. Ben Bernanke. Paul Krugman.
Robert Shiller. Joseph Stiglitz. Daron Acemoglu. Michael Spence.

But here’s what few people know, and fewer understand:
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Look further down the list of signatures. Sarah Friar, the chief financial
officer of OpenAI. Jack Clark, a co-founder of Anthropic. Jeff Dean, Google’s
chief scientist. Eric Schmidt. Reid Hoffman. Yann LeCun. Yoshua Bengio.

Once again, the people building the machine signed a warning about the machine.

That is the Szilárd moment.

I haven’t heard anyone on cable news read those 88 words aloud.

One of the economists who organized the letter, Anton Korinek, put the
timeline in one sentence:
“Steam, electricity, and computers each gave societies decades to adapt; AI
may give us only a few years. ”
Decades to adapt.

That’s what the railroad gave the farmer.

That’s what fiber optics gave AT&T – and even with a decade of warning, AT&T
didn’t adapt. I watched it happen. I wrote about it before it happened.

A few years. And the countdown has already begun.
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Now look at the other side of the ledger, because that’s where the letter’s
warning is already coming true.

Two weeks ago, Altrata published its annual census of the world’s
billionaires.

Their combined wealth: $15.1 trillion – a record, up 12.8% in a single year.

29 people, each worth more than $50 billion, now hold $4.1 trillion between
them – 27% of all billionaire wealth.

To put that into perspective: in 2017, there were 10 of them – and they held
7%.

The companies that invested meaningfully in AI outgrew the ones that didn’t
by 23% in market value over two years.

This week, Fortune did the arithmetic: fewer than 4,000 people now hold
wealth equal to nearly half of the entire U.S. economy.

This is what I call the Final Displacement
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– the fastest transfer of wealth in human history, from the people who compete
with the machine to the people who own it.

And that is what “severely concentrated wealth” looks like when it stops
being a warning and starts being a spreadsheet.

One of the letter’s own authors said the outcome “is not predetermined.”

He’s right. It isn’t – for the people who move first.

17 Nobel laureates and the people building the machine have told you what’s
coming.

My documentary shares what I believe is worth owning before it gets here –
and worth selling.


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Watch The Final Displacement here.
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Good investing,

Porter Stansberry


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