Reply to The Great Freeze “job creation is pretty close to zero.”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of the white collar jobs that are disappearing won’t be coming back. All most everyone needs to adjust to a lower standard of living. [/quote]

I wonder what the narrative would have been during the financial crisis if everyone was active on social media.

Everything is very “sky is falling” regarding jobs, but humans have worked since the beginning of time. There’s no telling what new jobs will be created or how this will evolve.

If the average American thinks AI will get rid of most jobs, then most likely the opposite will happen. The average American isn’t very bright. [/quote]

I agree with you there is a lot of unnecessary panic especially since the vast majority of job losses today are not due to AI. In fact most workers have not even had to use AI at their job.

Having said, it's fair to be nervous. Capitalists do not like losing money. We have never seen this level of investment into AI before. Capital owners will demand return on investments. Whether it comes in the form of job cuts and benefits as a result of AI being able to do those tasks or in other forms, we will all be affected at some point. Can I do my job? I have no idea? Can it do yours, I have no idea either? However, these capital owners are not going to invest trillions of dollars and still keep the same headcount. Humans are expensive. You need to give them healthcare. You need to give them annual leave etc. This is an expense the AI investors will love to get rid off.

All am I saying, while it's not time to panic, let's also not be naive in thinking that trillions will be invested and investors won't expect massive returns in result. [/quote]

They made a foolish investment. They know it already but they keep shoveling money into AI because they have to show those quarterly returns and the bubble is still bubbling. They're hoping to get bailed out when it all implodes.

It's just like real estate. Big companies overinvested in CRE that no one wanted, and kept doing it long after it was clear vacancies were too high, and then made a big stink about RTO to try to recoup some of their stupid investment. Stop bailing these people out. [/quote]

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