Jonathan Ross, Founder and CEO of AI chip company Groq, offers a contrarian view: AI won't destroy jobs, it will create a labour shortage.
He outlines three things that will happen because of AI:
First, massive deflationary pressure.
"This cup of coffee is going to cost less. Your housing is going to cost less. Everything is going to cost less."
He explains this will happen through robots farming coffee more efficiently and better supply chain management, meaning people will need less money.
Second, people will opt out of the economy.
"They're going to work fewer hours. They're going to work fewer days a week, and they're going to work fewer years. They're going to retire earlier because they're going to be able to support their lifestyle working less."
Third, entirely new jobs and industries will emerge.
Jonathan points to history as evidence:
"Think about 100 years ago. 98% of the workforce in the United States was in agriculture. When we were able to reduce that to 2%, we found things for those other 98% of the population to do."
He continues:
"The jobs that are going to exist 100 years from now, we can't even contemplate."
Software developers didn't exist a century ago. In another century, they won't exist either, "because everyone's going to be vibe coding."
The same applies to influencers, a career that would have been unthinkable 100 years ago but now earns people millions.
His conclusion: deflationary pressure, workforce opt-outs, and new industries we can't yet imagine will combine to create one outcome...
"We're not going to have enough people."
For a quick moment, imagine you were born in 1900. When you are 14, World War I starts, and ends on your 18th birthday with 22 million people killed. Later in the year, a Spanish Flu epidemic hits the planet and runs until you are 20. Fifty million people die from it in those two years. Yes, 50 million.
When you're 29, the Great Depression begins. Unemployment hits 25%, global GDP drops 27%. That runs until you are 33. The country nearly collapses along with the world economy. When you turn 39, World War II starts. You aren’t even over the hill yet.
When you're 41, the United States is fully pulled into WWII. Between your 39th and 45th birthday, 75 million people perish in the war and the Holocaust kills six million. At 52, the Korean War starts and five million perish.
At 64 the Vietnam War begins, and it doesn’t end for many years. Four million people die in that conflict. Approaching your 62nd birthday you have the Cuban Missile Crisis, a tipping point in the Cold War. Life on our planet, as we know it, could well have ended. Great leaders prevented that from happening.
As you turn 75, the Vietnam War finally ends. Think of everyone on the planet born in 1900. How do you survive all of that? A child in 1985 didn’t think their 85 year old grandparent understood how hard school was. Yet those grandparents survived through everything listed above.
Perspective is an amazing thing. With so much happening right now and as 2023 ends, let's try to keep things in perspective, knowing that we will get through all of this. In the history of the world, there has never been a storm that lasted forever. This too shall pass.
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BREAKING: @ElonMusk says he recommends Government officials and leaders should speak in their own voices:
“I think people should speak in their own voice. I would encourage CEOs, legislators, to speak authentically.. Do the tweets yourself and convey your message directly”