Technology displaces jobs. Thats a fundamental truth.
Robo taxis will replace uber and Lyft drivers, but won’t replace all human driven taxis. There will always be black cars and people who prefer a human driver.
How big will this impact be? Will people be rioting in the streets from the job loss?
No.
What this is being removed from the job market is the gig work of a random person with a car making some more money by driving for uber. Which is more of a return to a mean to a time before Uber and Lyft.
So will the impact be meaningful? In one sense yes, but my guess is it’s rather unnoticeable because the gig work will move to the next gig that still requires humans like food delivery, etc.
today i ran an experiment that exposed what i believe to be one of the biggest threats to america right now
i attempted to raise funding for a manufacturing company from silicon valley VCs and from PE funds
the VC gave me 5 minutes on zoom and said this was "more of a PE deal" because it was "too capital intensive", and they had no comps to benchmark it to, so they left to hop on another zoom and give an AI saas company a $50M pre seed
the PE fund had no one to answer. i tried two others same thing. finally got a hold of the fourth which said they "don't fund r&d" and "we buy ebitda", and suggested i talk to VCs about de-risking the tech first
so i call back the VC and ask "what about tesla or spacex?" and they said "those aren't replicable, you're not elon" while funding the 47th AI email assistant
this is the reality: america is being priced out of its own industrial future while companies get stuck in the valley of death between VC and PE
this is why 50% of our founders don't care anymore about building hard tech / manufacturing, because VCs want guilt free 100x returns from the saas casino, and pe wants existing cash flows
if we want to support reindustrialization and domestic manufacturing, we need investors who understand the middle ground exists, and real tech can enable massive empires
otherwise the factories of tomorrow won't be american, they'll be chinese. but at least we'll have another b2b saas platform with a 40x revenue multiple
esports, content, and many creators wouldn’t be where they are today if it weren’t for Cody.
his wit and care kept them all on better courses, and I’m privileged enough to know that first hand.