Elon Musk

On the website, I would say based on current demographic trends and how much money Social Security is bringing in versus how many Social Security recipients there are because we have an aging population, relatively speaking, the average age is increasing.

Social Security will not be able to maintain its full payments, I think, by 2032.

So Social Security will have to start reducing the amount of money that's been paid to people in about seven years.

You've got to basically massively increase the economic output, which is – and the only way to do that is AI and robotics.

Okay.

So basically, we're going bankrupt without AI and robotics, even with a bunch of savings.

The savings, like reducing waste and fraud, can give us a longer runway, but it cannot ultimately pay off our national debt.

I think there will be actually a high demand for jobs, but not necessarily the same jobs.

So, I mean, this is actually – this process has been happening –

throughout modern history.

I mean, they used to be, like doing calculations manually with like pencil and paper used to be a job.

So they used to have like buildings full of people called computers where the banks would like, all you do all day is you do calculations because they didn't have computers.

They didn't have digital computers that people do this.

Yeah.

Well, it was just people would just like add and subtract stuff on a piece of paper and that would be how banks would do financial processing.

Yeah, and most times it's just simple math.

Like in a world before computers, how did you calculate – how did you do transactions?

You had to do them by hand.

So then when computers were introduced, the job of doing bank calculations no longer existed.

So people had to go do something else.