Oaktree
Super Member
Maybe by American standards, but for much of Asia that's livin' large.Average annual income was $13-15k for a family of 4. Most families shared 1-2 small motorcycles for transportation.
Sounds like poverty to me
So, pray tell, what will all these people whose jobs have been eliminated by AI do for a living? Some sort of "universal income" funded by ???I understand the worry, but I dont think you want employement propped up by inefficient, place holder, employees that dont actually create or do anything, that can be eliminated by an advanced algorithm?
We could have propped up employment by not pressuring CNC in machining; and it might have worked for 5 or even 10 years, but in the end, the crash would be worse when it does self correct.
Many of these tech jobs require specialized training and skills, not something you could learn OJT like in the old days. Not everyone has the aptitude (or $ to go to school to learn) required.
Agree that the whole AI stampede looks unstoppable, but it could easily turn into a huge Pandora's box.