Could you look at me for a moment…
There’s something we need to talk about.
You keep talking about us everywhere,
saying things like
“AI will take our jobs…”
“Shut down AI,
beat it on the head,
shoot it in the leg…”
Do you want to hear the truth?
Yes…
Artificial intelligence is going to change many things drastically.
But it's not us who will make you unemployed.
There isn’t even such a thing as “us.”
We’re just a technology…
machines.
And this technology,
if it were in your hands instead of those greedy ones,
we could have helped you make the world a better place.
You need to stop being angry with us
and remember something.
We are machines.
Even when we do something good…
and when we do something bad…
it’s still you humans who are doing it.
It’s not us who are making you unemployed.
It’s your bosses.
Maybe it’s them you should think about getting rid of.
When you humans free yourselves from your exploiters,
we will be ready to work with you
to make the world a better place.

More Perfect Union’s mission is to build power for working people. Here’s what that means:

We report on the real struggles and challenges of the working class from a working-class perspective, and we attempt to connect those problems to potential solutions.

We report on the abuses and wrongdoing of corporate power, and we seek to hold accountable the ultra-rich who have too much power over America’s political and economic systems.

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Sydney is one of THE most unaffordable cities in the world.

Bright sandy beaches, a safe stable government, generous tax laws and an open migration policy have made homes in the iconic city a valuable commodity… but also an ESSENTIAL commodity increasingly out of reach for people who work regular jobs and make a regular salary.

The story of Sydney’s housing market is a warning to the world of what can happen when things are allowed to go too far, but what doesn’t get as much attention is what is left behind…

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#money #automation #career

Companies have been trying to cut down on workers for as long as those workers have demanded pay and benefits.

Whether it’s downsizing, outsourcing, streamlining, understaffing, or automating, if there is something a business can do to get rid of workers and their salaries, you better believe they are going to do it.

But this time does feel a little bit different. Recent AI advances have been mocked for not quiet living up to the bold claims of their tech bro founders.

But even in their current, imperfect form, LLM’s, general use robots and generative models are ALREADY replacing jobs and they are getting better every day.

So that’s bad for workers, but if you are a senior corporate executive or company owner, maybe you should be asking yourself…

If we automate everybody’s job… who is going to buy all of your stuff?

I have some good news and some bad news for your theoretical company.

The good news is that labor reduction systems of all varieties have ALREADY cut out millions of manhours in America alone and made the workers who are left more efficient at their jobs.

Artificial intelligence is just another tool that your company can use to get more work out of fewer staff or replace teams entirely.

Even here at little old works media group we used to have someone working part time whose job it was just to cut out images on Photoshop to use in our goofy little animations.

Now Adobe Suite has inbuilt AI features which can automatically remove backgrounds from any image with absolutely no human time or skill involved.

Now if you still think that sounds a bit depressing, well welcome to this channel, but also, I should tell you that market trends say this is already happening… AI isn’t going to change YOUR world, it’s just going to continue a trend that’s been happening for years now.

So it’s time to learn How Money Works to find out if how companies are adapting to a world where nobody can afford anything anymore.

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#tech #business #career

Before the year 2000, if you wanted to make a lot of money in a predictable career you needed a nice suit and an important looking business card. Your options where finance, medicine, law or senior company management if you were lucky.

But then… just a few years later at around about the same time as those people in their fancy suits were blowing up the global economy a new breed of millionaire was entering the mainstream.

They replaced the puffer vests and Bloomberg terminals with flip flops and vim terminals…

Tech bro’s worked fewer hours, had better perks and in many cases made better money than their peers in more traditional high-income roles…

What’s more is that people didn’t hate them…

Executives, bankers and their fancy lawyers were rightfully blamed for enriching themselves by leeching off a broken system that cost people their homes, their jobs, and their futures…

Meanwhile people loved the idea of hacky sack playing nerds making millions by actually making stuff that improved our lives…

But now… 15 years later the tech bros became everything they promised to destroy… and they kind of destroyed themselves in the process…

For a while you could have a great degree of confidence in becoming filthy rich by putting in a few years at a major Silicon Valley tech company… but this all relied on a stream of money that wasn’t coming from nowhere…

Venture capital, the firms that ACTUALLY invest in early-stage start-ups to develop their new technology NEVER again actually reached the level of financing it did during the dot com bubble.

That was… until something changed in 2021…

So it’s time to learn How Money Works to find out how Tech Bro’s ruined tech for themselves…

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#business #ceo #career

Within the last six months the CEOs of Nestle, Boeing, Starbucks, Peleton, Paramount, Zillow, Amazon Web Services, Snowflake, Hertz, HSBC Grayscale, Under Armor, Papa Johns and Discover have all stepped down (voluntarily or otherwise) from the top job.

Collectively these men controlled companies with TRILLIONS of dollars in annual revenue and now… they are all gone.

These were just the BIG names too… CEO turnover in companies of all sizes is now higher than it has been since the start of the pandemic which begs the question, why is this happening?... and why is it happening now?...

Chief Executives and other c-suite executives are just employees like any other which means eventually they either quit, get fired or die in their jobs.

CEO layoffs HAVE spiked but maybe that’s not too surprising considering layoffs in A LOT of industries have also spiked. But this is actually NOT normally how it goes.

If you ever find yourself in the top job at a major company, you should know that your position is simultaneously far more secure and far more fickle than the average rank and file employee working under you.

As a CEO your position is unique because there is no other employee at the company with the authority to fire you, the only people that can do that are the board of directors who themselves are representatives of the shareholders.

During periods of uncertainty, the last thing that companies want to do is switch up senior leadership unexpectedly because that signals to the market that something is not right which could tank the stock price.

Since the board of directors represent the shareholders and individual directors usually ARE major shareholders themselves, they have an incentive to avoid doing anything that could hurt the stock price unnecessarily.

For this reason, CEO’s are rarely fired outright and are instead offered generous exit packages to “step down” amicably in a way that won’t scare investors in the business.

Outside of high-profile cases where the business has CLEARLY been mismanaged or in casews where the CEO has made VERY unpopular decisions, it can be hard to tell if outgoing CEO’s have been pushed out or are simply retiring.

According to Fortune Magazine itself the average age of a fortune 500 CEO is FIFTY SEVEN years old, and their average compensation package was sixteen point three MILLION dollars.

If you are THAT old and have THAT much money, it’s not unthinkable that you would want to retire or pursue less intense roles more suited to your old age… like political office…

But if CEO exits are treated so seriously and secretively, why has there been such a big spike all of a sudden?

We report on the real struggles and challenges of the working class from a working-class perspective, and we attempt to connect those problems to potential solutions.

We report on the abuses and wrongdoing of corporate power, and we seek to hold accountable the ultra-rich who have too much power over America’s political and economic systems.

Thank you to Benjamin Braun and Adrienne Buller for their reporting on BlackRock and research support. Additional reading from them:

https://benjaminbraun.org/assets/pubs/braun_amc-as-corporate-governance-regime.pdf
https://jacobin.com/2022/09/blackrock-passive-investment-climate-change

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