Is innovation deflationary? What about A(G)I?

Innovation is great but it doesn't always make prices or interest rates decline

I’ve noticed a lot of venture capitalists and entrepreneurs say something along the lines of “innovation is deflationary.” By this they generally mean one of two things (or both): innovation causes prices or interest rates to decline. While that is sometimes true, it is not always true. The world is complex.

I get the sense that a lot of venture capitali…