Thus we could face Great Depression level mass unemployment and civil unrest in 11 years. We need to act now before rampaging mobs of unemployed truckers and workers burn tech company campuses to the ground and hang engineers.Read more
Technological unemployment is a direct threat to conservatism; because modern conservatism is a middle-class movement. To clarify, conservatism needs a large and growing middle class to provide voters.
For instance, American conservatism was at its height in the 1980s and 1990s; when the middle class made up 59% and 56% of the US population. Notably, the 1980s produced the Reagan Revolution; and the 1990s a long-lasting Republican majority in Congress.
Thus Walmart’s investments in technology could pay off with lower operating costs. Notably, one way technology is saving Walmart money is by eliminating the need for employees.
For instance, Walmart is eliminating 700 to 1,000 jobs at its Arkansas headquarters. In addition, Walmart cut 7,000 back-office accounting workers in its stores in 2016.
Hence, Walmart and its investors are profiting from technological unemployment. Interestingly, further job cuts are likely at Walmart because the company will deploy robot janitors in its stores.
Walmart is testing 360 janitorial robots in its stores, Bloomberg reports. In detail, the machines are robotic floors scrubbers built by a company called Brain Inc.
Robots are conducting inventory in some Walmart stores, Bloomberg claims. In addition, Walmart is testing robots that pull grocery orders in fulfillment centers and superstores, TechCrunch reports. A company called Alphabot builds the robots
Technological Unemployment will be far more widespread and destructive than most people expect.
1. Technology will kill large numbers of jobs over the course of the next few decades.
2. Technology will create vast numbers of new jobs over the next few decades.
3. Income inequality is likely to get a lot worse. There will be a lot more rich people and many more poor people around.
4. The destruction of jobs will lead to widespread cultural, political, social, and economic upheaval.Read more
Yang comes across as a kinder and gentler Generation X version of Trump.
Yang might be the breakout Democratic candidate of 2020. Even if he does not win, Yang is certainly in a position to disrupt the Democratic primaries and possibly knock out some serious mainstream contenders like former Vice President Joe Biden (D-Delaware) or U.S. Senators Kamal Harris (D-California) and Kirsten Gillibrand (D-New York).
. Like Donald J. Trump, Andrew Yang is a sophisticated but improbable candidate that has a strong chance of reaching the White House.
It looks as if the technological jobs apocalypse is occurring at America’s largest employer Walmart.
The world’s largest retailer has plans for a store where customers would simply take merchandise and walk out the door without stopping at a register, Recode revealed. Instead, cameras, sensors, and employees on the floor would keep track of purchases.
“Long story short, the middle of the labor market is disappearing,” Santens wrote. He envisions a new labor market in which only the highly-skilled and the low-skilled find work.Read more
The most frightening AI of all is being developed by a Google project called AutoML (machine learning). The goal of AutoML is to create an AI that can design and build other AIs, The Times reported.
Alphabet (NASDAQ: GOOG) is trying to build AI that can reproduce. The thinking behind AutoML is to reduce the need for the highly-paid engineers and computer scientists who to design and build AIs.Read more
Earlier adopters of Flippy are likely to be 24-hour kitchens; such as those in truck stops, and diners like Denny’s (NYSE: DENN). Next will come military mess halls, hospitals and restaurants in areas with high costs of living. Any restaurant in an area with labor shortages and operators of kitchens in remote locations will definitely be interested.Read more
Publicity about the possible automation caused McDonald’s share price to increase by $38 a share during the week of June 19 to 23, CNBC reported. Mickey D’s shares went from $142 to $180 in just a few days. They fell back to $154 on Monday June 26, 2017, but were still grossly overpriced.Read more