Eliezer_Yudkowsky comments on Fake Utility Functions - Less Wrong
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Gentle readers, I'm afraid we're not yet ready to have more general conversations about Friendly AI. Just about how a simple utility function won't compress all human values. One thing at a time.
(You should all feel welcome to look for the flaws in your own solutions, though.)
Toby Ord, the case I made against happiness as sole value is contained in "Not for the Sake of Happiness (Alone)".