Ben Zweig

I think you're largely right that the job market is not very good right now.

So hiring is at a low.

Also, attrition is at a low.

So people are not leaving jobs as much, even despite increases in layoffs.

But, you know, separations from jobs, you know, are not happening to the same degree as they used to be.

And that is particularly affecting young workers.

But what's interesting about this is I think you kind of touched upon this idea

Brynjolfsson paper, you know, and others out of Stanford that highlight that there is an interaction between entry-level workers and AI exposure.

And that's research that we've done at Revelio as well early on.

But I think, you know, the researchers have gone a little deeper into it.

And I think it is credible that AI seems to be affecting entry-level work.

But notably, it's not causing technological unemployment like was predicted by Osborne and Frey or was predicted 100 years ago from John Maynard Keynes.

You know, in 1930, he wrote, you know, economic possibilities for our grandchildren and predicted in 100 years we'd all be working two day work weeks.

I think it was 15 hours.

So it was a 15 hour, 15 hour week.

It hasn't quite been 100 years, so maybe in 2030 we'll see that he's right, but it doesn't look like he'll be right.

So we're not seeing technological unemployment, but we are seeing decreases in demand for entry-level workers, and that is particularly concentrated among AI-exposed roles.

I think you could say, oh, well, you know,

AI, you know, seems to be affecting the execution of tasks, which, you know, young people do and rather than the orchestration, which favors more senior workers, people with experience in management, because, you know, in the age of generative AI, we're essentially managing these bots to go and to go and do things and execute on some subtasks.

And I think that that is a read.