The REAL Reason Everything Is About To Change

Scientist-entrepreneur David Friedberg, co-host of the All-In Podcast and a member of the President's Council of Advisors on Science and Technology, pushes back hard on the idea that AI is about to take everyone's jobs, and explains why history says the opposite will happen.

Friedberg points to a Newsweek article from 1963 warning that computers would take all the jobs. The mainframes were installed in office basements, and workers walked past them in fear, convinced their accounting and typing jobs were finished. There was even an effort in Congress to legislate against them. The same panic returned in the 1980s with desktop computers. In every case, the prediction failed. Empirically, across every period of technological revolution, jobs have gone up, not down, along with demand and incomes.

His explanation is that technology makes individuals more productive, so they can do more per hour and earn more for it. Instead of one painter painting a wall, that painter now manages five robots painting five houses, and gets paid more for it. The common objection is that there are only so many houses, the fixed pie argument. But Friedberg argues the pie always grows: excess capital gets deployed, new products get created, and economic value flows all the way down through the workforce.

Discover:

• The 1963 Newsweek article warning computers would take all jobs

• Why jobs have gone up in every technological revolution

• Why the Photoshop panic actually grew the photography industry

• The "fixed pie" fallacy and why the economy expands instead

• Why Friedberg says AI leaders show "deep arrogance" about human potential

• What really happened at Klarna, according to its founder

• Why the in-real-life economy could explode

• Why he believes companies will hire more people, not fewer

📺 Watch the full episode here

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