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Andrew Kang

@Rewkang • 422,394 subscribers

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Common pushback from Rob Hadick >|< @26x14eth Stephen McBride is that this has also been a concern in previous technological revolutions but has never played out because of new sectors that emerge from those technologies. Imo this is lazy reasoning by analogy and can be distilled down to "It's always been like this in previous instances in the past so it will be like this in the future" which is a common reasoning technique that lacks nuance and thus doesn't always work. Similar to how people use heuristics from past market cycles expecting them to work in future ones such as stock to flow model, bitcoin never having a double top, bitcoin never going below previous ATHs in subsequent cycles, etc. Note that in the AI revolution, you will have unprecedented factors such as: - Breadth/percentage of jobs affected (Probably >95% of jobs) - Speed of technological adoption - Lack of obvious new industries/jobs created compared to previous tech revolutions ie. there were infinite ideas of new internet enabled companies 20-30+ years ago and subsequently many of them became reality while this is not as obvious on the AI side Even if these new industries/companies existed why wouldn't their labor force be predominantly powered by AI? Previous tech revolutions didn't result in massive job displacement because there were always things humans could do that machines couldn't but this revolution is unique in that we are literally creating machines that can do everything humans can do and do it better

Andrew Kang

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