Faisal Islam

But I'm just sort of saying...

Wow.

And the conversation with Shusunak about like the impact, you know, you think about people at home, you think about parents of people who expected their kids to do certain degrees that would get them jobs that would pretty much set them up for the period of a mortgage.

You know, all of those doubts about what lives and livelihoods mean are being thrown up in the air.

And it's interesting that I had to go to a kind of former prime minister to sort of crystallise those moments.

You know, it's really pretty interesting.

And he has some radical thoughts, things like, I mean, check this out, abolishing national insurance entirely, employers and employees, but replacing it with a higher tax rate.

on corporations profits who are making fat profits from ai that's the sort of thought coming out of a conservative former prime minister uh about how acute the job situation might be as a result of with the numbers add up for that i'm just going to work out without wanting to turn into a spreadsheeting podcast

No.

So I think what he's saying is the structure of the economy is going to radically change.

Right.

And so the returns to labour, to working, to jobs are going to be so diminished in some instances by AI.

And remember, he's an advisor to Anthropic.

That is shriveling anyway.

He's an advisor to Microsoft.

and therefore the returns to capital, to corporations, not just in AI, but just generally.

He also coined this phrase, which is quite, you know, let's have a think about this.

He said CEOs are telling him stuff that they won't say on the camera, frankly, which is flat for recruitment, for headcount, flat as a new up.

So they're not recruiting tactically right now because they need to ask themselves the question, these are my words rather than Richard Sunak's,

of why they should create an extra job when an AI could do that job, an agent could do that job.