Economist Peter Schiff recently argued that artificial intelligence is lowering the barriers to entrepreneurship, suggesting that individuals should consider starting their own businesses rather than seeking traditional employment. In a post on X, Schiff wrote that AI makes it much easier to launch a business because there is no longer a need to hire employees. He cited "onerous labor laws" and the risk of employee lawsuits as reasons why the technology offers distinct advantages for founders.
Separately, Salesforce Inc. (NYSE: CRM) announced that it has agreed to acquire the AI analytics platform Loops. The company stated that the acquisition is intended to integrate Loops into its Tableau software. While media reports valued the deal at approximately $30 million, Salesforce did not disclose the specific financial terms of the agreement.
The article also noted recent commentary regarding the broader AI industry. Social Capital founder Chamath Palihapitiya questioned the quality of revenue generated by some AI companies, suggesting that 70% to 80% of revenue comes from other AI firms funded by venture capital. He noted that AI and machine-learning companies captured roughly 83% of U.S. venture funding through September, a significant increase from 10% in 2015.
