Bill Gates warned governments have no plan for AI-induced worker displacement. Gates owns a $130 billion foundation. He built Microsoft into a monopoly that destroyed competitors for decades. Now he's concerned about upheaval.
The man who convinced every office worker they needed Windows ME is lecturing policymakers about preparedness. Windows ME crashed if you looked at it wrong. But sure, let's take planning advice from that guy.
Gates says AI will strain social systems. He means unemployment benefits and welfare programs. He does not mean his personal wealth will be redistributed to displaced truckers. That's not the kind of strain he's worried about.
Governments are unprepared for AI displacement the same way they were unprepared for the internet, the financial crisis, the pandemic, and literally every other major event in recorded history. This is not news. This is the default setting. Acting surprised that bureaucrats lack foresight is like acting surprised that retail traders bought GameStop at $400.
The global risks Gates mentions include mass unemployment and social instability. He did not mention that the people building the AI are the same people who will profit from the displacement. Weird oversight.
Retail traders hearing this warning will immediately dump their life savings into AI stocks. They will buy at the peak. They will hold through a 60% drawdown. Then they will post loss porn on Reddit and blame Bill Gates for not warning them sooner.
Gates wants governments to prepare now. He released this warning from a foundation that could fund retraining programs for every displaced worker in America and still have $120 billion left over. Instead he's issuing press releases. Much more efficient.
The real upheaval is that billionaires still think we believe they care about workers.
Photo by Alain Moreau on Unsplash
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