alt Hacker NewsYes, but that isn’t the question as long as those wealthy people control most of the system: companies aren’t going to lose executives, they’ll shed the jobs which they don’t respect. Someone wealthy does not need to accept a bad deal to avoid sleeping on thr street. It’s everyone who isn’t insulated who has to actually compete for work.
Besides the argument above, that an AGI powerful enough to replace 99.999% of humanity won't be controllable, there's also the economic argument: corporations, executives, all that means nothing if 99.999% are unemployed. Our economy is based on consumerism which will obviously cease to happen in a scenario where 99.999% of humanity is unemployed. The economic system would be so upended that ownership and such notions would become immaterial.