Jonathan Herzog

And that's why you're exactly right, Nathan.

The system is working exactly as designed.

There's nothing really awry because all of the incentives are such that if you're the federal government, you give someone a $100,000 loan, no questions asked, to go to law school, right?

But if someone wants to start a small business, they're going to have to do an incredible amount of hoop jumping and go through an incredible amount of red tape to get basic access to grants and startup capital.

And so this is the fundamental change we have to make.

And the reality is that

College is not the be all end all, right?

And I think you know this very well, where only one in three people even have a college degree in the United States.

And of those who have a college degree, almost half are underemployed.

So they're working in a job or a field that doesn't require that degree.

And I think what you've shown and many others working in technology in particular,

is that these institutions which have peddled this particular narrative that to be saved, to have a secure, stable livelihood, you have to get a college degree.

Those narratives are falling apart.

So this is a great question, and it's not even conjecture.

It's not even theoretical, where McDonald's formally committed and invested in the AI to essentially do just that, with drive-thrus, with automated machines to order and take orders, and not even just on the front end, on the back end, even in the food production and the burger flipping.

So this really is

one of the fundamental challenges but historically to kind of unpack why this is the case the base of the democratic party was the um unionized labor manufacturing base and this was the case for nearly a half century um and to your point i mean there was really only one voice in the in the presidential race who was you know perhaps even calling out the reality that

You know, it's not about bringing the old jobs back.

There's no going back.

And we're seeing this now, more people are catching on, is that the firms that are laying off and furloughing tens of thousands of workers, they're not going to rehire them, unfortunately, at the end of this crisis.