Nick Martell

ChatGPT is stealing every entry-level job like it hates Gen Z. Because every entry-level corporate job is about memos, research, analysis.

That's what AI does well.

Exactly.

So AI was eliminating the bottom rung of the career ladder.

That's the narrative.

Basically, Sam Altman sawed it right off.

And the logic made sense.

We all know the narrative, although it's been hard to prove causally with data.

But pause the pod, besties, because a new study from the Federal Reserve of New York says we're all hallucinating.

Figuratively.

You see, they compared the unemployment rates among people working in remotable jobs to those in non-remotable jobs.

Software engineers can work remotely.

They just need their computer.

But mechanical engineers can't work remotely.

They need to, like, use their wrench on that machine right there.

Can't fix a fridge unless you're right there with the fridge.

And here's what they found.

unemployment for young people working remotable jobs rose by one percentage point in the last five years.

But the fascinating key, the unemployment rate for young people working non-remotable jobs, you must be in person, actually fell in the last five years.

So the early takeaway here is that AI didn't take that job.