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NINETEEN

YOU CAN’T GET AHEAD WORKING

Look, labor hasn't been worth much in a LONG TIME! That's why you can't get rich by working. You can only get rich by being rich. It's a catch 22 you have likely heard echoed for years: you cannot trade labor for enough money to ever get ahead. The only way to truly get ahead is to trade money to earn money.

Labor was once a reliable method that everyone knew they could trade as a resource in exchange for other resources. Meaning, you could trade your time in labor to earn dollars. But what happens when labor isn't worth as much? Meaning you can put in the same work but you aren't earning the same dollars you used to? Or maybe you are earning the same dollars but suddenly those dollars aren't enough to really get you anywhere?

The economy is changing as the gameboard of life changes.

What was used before to earn wealth and build your life will not necessarily be the valuable resources in the new game. Let me break this down. Humans, what are they good for? LABOR?

Not really. 

Soon diminishing returns refer to a situation where the benefits obtained from additional input or effort become less than the cost of that input or effort. In the context of labor as a valuable resource, this means that as more labor is added to a production process, the marginal raw product of labor (the amount of output produced per unit of labor) eventually decreases, making each additional unit of labor less valuable than the previous unit. No different than when the government prints more money, your money gets devalued. This shift began with the rise of globalization which led to increased competition for jobs as companies were able to access the global workforce and find those willing to do the same work for less, as seen in outsourcing labor to third-world countries. But the real nail in the coffin is and will continue to be automation over the next decades. As automation continues to ramp up, the need and demand for human labor will decrease. The value of labor is declining compared to other resources, such as capital and technology.

Think about it: only a few years ago if you wanted to have immaculate marketing and design for your company you had to hire a professional who had education and formal training in advertising and marketing, which could have cost a fortune, now you only need a $10 Canva subscription and basic knowledge of how to use CHATGPT and you have replaced your entire marketing team. To put this in real terms, when AI and Canva came to market, the marketing budget for my real estate office went from just over $35,000 annually to under $1000 a year. That is a 30x reduction in cost due to one automation and we eliminated the need to hire for these roles. What was once a highly paid job became worthless overnight – the labor of those in design went from thousands to pennies just like that!

The middle class has only a few years left – it is said that after the AI job loss wave the middle class will be forced down the “food chain,” onto the new social credit systems, which is likely going to turn from conspiracy theory to reality very quickly.

Due to the massive job loss which is inevitable at this point, we as a society must build a structure for a social credit system that will be able to support everyone who is about to be jobless.

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