Why do people think that people displaced by AI in one industry will get a job in another industry?

The entire valuation of the AI industry is predicated on people not just losing individual jobs, but being taken out of the workforce entirely on an economic level.

They are talking about the workforce of the entire economy shrinking. People will lose their livelihoods for good.

This has the potential to be even worse than the second agricultural revolution to industrial revolution phase, which made ordinary workers lives absolutely miserable for maybe a hundred and fifty years.

This time, there will be no jobs. If you are displaced from one industry by AI, you will end up in another industry also being decimated by AI; if you get a job at all, you will do so by working lower pay than other workers, who will in turn be pushed down the ladder.

And that is if you are lucky: if you have only IT skills, why should you be the first to get a fruit picking or plumbing job?

That valuation is from the same people that valued dot.com's so high, and didn't bet against mortgage backed securities. So call me a bit skeptical on their far seeing wisdom. I mean maybe this time is different. Sure. And they don't need the whole economy to collapse or the bubble to not collapse; they just need to have invested in 1 or 2 entities that become large long lived companies.

> And that is if you are lucky: if you have only IT skills, why should you be the first to get a fruit picking or plumbing job?

Easy. Because you have the skills to increase productivity by automating it. Oh wait...