Grant

It's called the lump of labor fallacy, which is there's a core mistake that we make in treating labor demand as fixed.

so the implicit model is there's x amount of work so ai does more of it so that humans do less of it but this is the lump of labor fallacy because what actually happens is efficiency gains lowers costs increases demand that creates new applications and there's actually net labor expansion deployed differently so the example that they give is agriculture went from 40 of workers to two percent

uh atms increased bank teller jobs because operating branches got cheaper to run maybe less people work in agriculture but then you know they switch to other roles more people are working over here but more people are working in banks for example um when building software gets 5 to 10 x cheaper more software gets built and so therefore demand is elastic not fixed i think the the

I think that while that is true, there's also the problem of just because you can do a task

doesn't mean that task will be, like your wages will not be guaranteed at a certain rate forever, especially as more people can do that task if your wages are dependent on that task.

And so I actually believe that we need to reframe ourselves away from roles that are task specific and start to position all of society and at least in our companies or how we position ourselves to roles that are

not task specific.

I don't know what the right framing is, but something that's more like I am a marketer.

I am a brand storyteller.

If you're a writer, you're no longer a writer because the task of writing can technically be done by an AI.

You are a storyteller.

You are more than the tasks that you do.

So if we think of a software engineer as just being someone who codes,

I think that that is absolutely going to change because if everyone can code, the demand for someone who knows goes down.

for one reason or another, not even AI, but, but like that person specifically doesn't go over to these new jobs probably, you know, I mean, for example, Oh, I think if your, I think if your mentality and your identity is tied to the specific tasks that you do, you know, if you went to school for something for multiple years, uh, specifically, um, yeah,

If your identity is tied to that task that now can be automated, then I think it's harder for you to switch to a new skill set.

Yeah.

Yeah.

And that's why I think to the extent to which that it is possible for us humans to prepare ourselves mentally, emotionally, I think starting to reframe your thinking around, okay, what am I if I'm not...

x the task like the task the x task doer and what could you be like how how do you open your mindset to change and being open to that if that's where all this goes because i do think that there is going to be a at least a short-term reckoning with the job market and maybe we'll get more into this in our prediction episode but but this type of release really puts us in perspective for me it's like at a certain point there will be an economic incentive to