Maizeman – Exactly. Can you say Pepper? I believe Pizza Hut just started to use this particular robot. I agree with thinking more in terms of legacy planning. This is, after all, what the 1% tend to spend a lot of their time on. I have watched in awe just how far ahead some of my peers were when they had schooling paid for, or were given large down payments to help get a foot-hold on the property latter. In many cases, this propelled them way beyond the rest of us. I think holding land and building entrepreneurial skills within my children is key.
Boarder42 – Sorry, I may not have been very clear with that one. My point wasn’t about me or Mustachians (self-selection bias), but that, on average, my Millennial peer group HAS to have both spouses working, and has to obtain a higher level of education today to achieve what their parents were able to achieve (on average) in the 70s/80s/90s in terms of lifestyle and retirement savings (ignoring the old iPhone/travel argument). I argue this has a lot to do with globalization and the equalizing of wealth around the world (China, Africa India higher, Canada, Europe and US lower) and free trade, but also automation. I am arguing that this kind of change will happen again, but on a greater scale due to AI and robotic innovation.
Prognastat -
https://www.youtube.com/watch?v=NA6olIl_LXIAcroy – I like your perspective, thanks for sharing.
Mozar – Good point. I actually think working for the government is probably one of the safest ways to keep an income source secure going forward. I wonder though, as more companies become truly international and take advantage more and more of a global workforce, whether such mechanisms will keep the private sector safe. I agree that teaching kids to be problem solvers is key here.
Trashmanz – Sorry, I am Canadian, and perhaps that is the difference. I was also talking in general terms, not personal ones. When I grew up in rural Ontario, it was common for most of the fathers to work, and for the mothers to stay home. We had a very large, three bedrooms, three bathroom home with acreage. My parents paid it off quickly on one income, and we had two cars and travelled growing up. He worked at a factory. They weren’t crazy with their money, nor were they super frugal. My point was just that, in my context, most of the Millennials I know in my area have to be better educated, and mostly dual income to replicate this with any chance of also having the retirement my parents have. Perhaps I am an outlier in terms of experiences.
Maizeman – As an educator and father of 3, this is definitely an interest of mine.
PensacolaStache – Thank you, I will put it on my reading list. I work in a university environment and get to be exposed to a lot of Engineering professors and IT gurus who have me tuning in more and more to this issue, something that is quickly becoming a real conundrum in the world of higher education. We are starting to realize humans may not be needed in nearly the same way we have been in the past when it comes to ‘work’ or ‘jobs’.
I may be mistaken, but what concerns me the most is that the basic argument, ‘oh we have always had automation and new jobs have sprung up’ seems to be a moot point with the current revolution as those ‘new jobs’ will come indeed, but the self-learning, cheaper, and vastly more adaptable ai/robotics technology will be capable of doing those jobs too. Plus, they don’t need pensions or rights.
Tyort1 – We are seeing rapid replacement of white-collar jobs as well. There was once a time when lawyers, accountants, teachers, financial planner and analysts, and even judges were safe from this. If you look into what is happening these jobs are definitely not irreplaceable. Yes, there will always been a need for some kind of human body, but not in the same numbers we once needed.
Toneysemail – True, although we are really talking here in terms of trends, and the slow (ish) process of many of these developments getting into the consciousness of the masses. A lot of what people are saying could never happen on this thread, IS happening and is causing some of the most intelligent and powerful people in the world to pause, and ask questions.
2Birds1Stone – That is a good attitude. I just wonder how (15+ years out) I can predict which company/industry/career to direct my children towards so that they can be part of said push. Oh well, at least Moore’s Law is slowing down.
Yankuba – Low income skilled jobs like this
https://www.youtube.com/watch?v=quWFjS3Ci7AAnd this
https://www.youtube.com/watch?v=TsF_zs3G61MI do think a national basic income will eventually happen. It will be forced to happen. The choice will simply be precarious low-paid work for the vast majority of humans, or a basic universal income.
Great conversation everyone. I would love to hear more.
This sums things up better than I could:
https://www.technologyreview.com/s/538401/who-will-own-the-robots/