alt Hacker NewsNot the OP, but I think the implication is you can't run a consumer economy if the consumers aren't making any wages to buy the products and services those cheap and efficient robots are churning out. Or pay taxes. So the entire socioeconomic system we currently enjoy/endure vanishes, robotic factories included.
Exactly. Economy of scale will cease to exists. Thus the demand for robots in the factories will stop making sense - what they would be making for whom? Nobody have money, nobody can buy anything.
So next step, business go bust, because there is just not enough billionaires to keep all of them alive. Another step is states go bust because there is no income to be taxed and there is no capital exchanging hands in buying goods which could be taxed.