Now consider this, if you can get rid of 50% of your employees you can also get rid of 50% of your commercial real estate and you can also get rid of 50% of the work for your managers. So even if you are not using AI to manage anyone, the fact that you have half as many employees suggests you can also have half as many managers.
But that is only the tip of the iceberg.
All these employees at fortune 500 companies buy clothes, buy food, buy houses, appliances, hair cuts, etc. We are talking about 8 million people losing good paying jobs and they in turn will probably result in another 8 million service employees losing their jobs.
Not only so, but imagine next June no one gets a good white collar job coming out of college. It may take another year for the message to sink in, but once it is clear that no one is hiring college graduates you can be sure no one will be paying 20-60k a year to get a degree. You have 1.4 million people teaching at colleges and universities. You can imagine the layoffs begin a year from now and really take off three years from now.
So then what jobs will there be? China recently hired tens of thousands of correction officers for prison. I heard the US has completed building concentration camps in all 50 states.
But this is only white collar jobs, what about small businesses? I expect that the savings that Fortune 500 companies get from using AI will make it harder for smaller companies to compete with them.
But you can also get similar economic benefits by using the Tesla robots instead of blue collar workers. If we see 10 million white collar workers lose their jobs I expect we'll definitely see 10 million blue collar workers lose their jobs. My guess is you will see 20% unemployment very soon, and if you have 20% unemployment you will probably have a 20% decrease in demand for their services and so they will have new rounds of layoffs.
But that is only the tip of the iceberg.
All these employees at fortune 500 companies buy clothes, buy food, buy houses, appliances, hair cuts, etc. We are talking about 8 million people losing good paying jobs and they in turn will probably result in another 8 million service employees losing their jobs.
Not only so, but imagine next June no one gets a good white collar job coming out of college. It may take another year for the message to sink in, but once it is clear that no one is hiring college graduates you can be sure no one will be paying 20-60k a year to get a degree. You have 1.4 million people teaching at colleges and universities. You can imagine the layoffs begin a year from now and really take off three years from now.
So then what jobs will there be? China recently hired tens of thousands of correction officers for prison. I heard the US has completed building concentration camps in all 50 states.
But this is only white collar jobs, what about small businesses? I expect that the savings that Fortune 500 companies get from using AI will make it harder for smaller companies to compete with them.
But you can also get similar economic benefits by using the Tesla robots instead of blue collar workers. If we see 10 million white collar workers lose their jobs I expect we'll definitely see 10 million blue collar workers lose their jobs. My guess is you will see 20% unemployment very soon, and if you have 20% unemployment you will probably have a 20% decrease in demand for their services and so they will have new rounds of layoffs.