Eric Siu argues AI will displace jobs faster than the internet did over the next 5-10 years, pointing to current hiring freezes as early signs. He predicts governments will eventually adopt Universal Basic Income as displacement persists and money printing continues.
I think in the long run we're going to be okay, I think. But when you look at the industrialization or when you look at when we moved from kind of most people being farmers to most people becoming factory workers, that change took about 30 years and there was definitely job displacement during that time. I think these things happen. I mean, there's going to be job displacement. Maybe that job displacement happens for a couple of years or so, then I think we even out. But during that time, maybe, you know, people realize maybe there does need to be UBI because there's going to be so much job displacement, right? And the reason why I'm saying this too, is because we kind of went around the room and nobody's actively hiring right now. We'll just put it that way, right? If anything, some people are looking to cut. And I think that that's kind of what we're seeing across the board right now. And even with like other friends that I talked to too. So that's why I think it's 5 to 10 years, because to me, this is, this is bigger than anything I've ever seen. I think this is bigger than the internet. I think that's kind of where, like, my take is, yes, there's going to be some short-term job displacement. And then I do think UBI is going to happen too. Because why? Because America, I don't think the money printer ever turns off.
