So we remember these days like yesterday… the Dot.com era of the late 90s and early 2000’s…
The irony of this post … AI grabbed these headlines for us, specifically from that era …
A regular part of our mantra – many of you have likely heard
“It is never as good as we think or as bad, somewhere in between!” …. Followed by “Let’s assume about 50% of this happens!”
Professor Scott Galloway … adjunct NYU professor, regular speaker (I have met and followed over the years) author and entrepreneur …also has a regular blog …
So these are cherry picked comments from his recent blog post… he can be more edgy than comfortable to me… just as a heads up, if you want the full raw comments, worth the read if the shoe fits !
…Every generation gets its “machines will take your job” panic. This one just comes with better PR and a bigger balance sheet. The AI job apocalypse isn’t data-driven — it’s narrative-driven, engineered by people who profit when you’re scared. Fear is the product. Capital is the outcome.
….Catastrophizing is a narrative device the hyperscalers deploy to divert capital flows to them and justify their capex. …..So far, the turmoil attributed to AI has been more hot air than hard data.
And finally, Galloways closing statement in his post… pretty brash but you do not have to guess where he stands –
“…The AI job apocalypse isn’t an economic forecast — it’s a marketing strategy. We’re not witnessing the end of work. We’re watching the monetization of fear.”
If you are still with me, you deserve my honest opinion on the subject matter … so here goes
Not sure where this ends up. anyone that tells you definitively likely has an agenda or really is guessing
Great advances will occur in the medical community in the form of new medicines and life saving procedures
Going against Galloway, entry level/first time jobs slow for the next several years
There are, will be, and always are, nefarious players, so we all need to be careful – they have better tools now
Many industries will be greatly changed and some will be wiped out
Right at this moment, the hype is likely a bit overdone, but as point one mentioned… guestimate
This is moving faster than anything we have ever seen before, so while you do not have to totally embrace, if you ignore, there will likely be trouble eventually due to your lack of knowledge in the subject matter
Likely creates mechanical improvements (Data Center like worries addressed here) that greatly reduce the use of resources, changing the fortunes of some of todays huge winners greatly, but making for a better long term environmental future and natural resources
So ….
Some third person quoting to get the point across, and while we stray from predictions, you have my best estimates as payment for enduring the full wrath and length of the overzealous typing fingers here!
Will be fun to look back at this in a few years!
Have a Great “AI v Dot.com” Comparison Day!
John A. Kvale CFA, CFP
AI Content Authenticity: All of the following text content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note when appropriate.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
