Story Telling Revolutions A Conversation With Paul podcast

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Story Telling Revolutions

12d ago 57:38

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I was traveling this week, so today is mostly sharing a podcast with Pedro Lopez, who created the remarkable series Gloria on Netflix.

Regarding investments, I want to share a brief follow-up on last week's post about the impact of AI on labor. A fun fact: there are over 6 million jobs in the US tied to driving a vehicle of some sort, making up 5% of the workforce. While regulations and unions discourage this, many of these jobs could be replaced today by a computer, which would be both safer and cheaper. The consensus is that AI will only slowly impact the labor force. I suspect this is wrong and it will only become obvious after it has happened. A possible straw in the wind is that youth unemployment is higher in the US and China, the two countries at the forefront of AI application. I show both charts below.

Source: Haver.

I know anecdotally from college-age kids and their parents that it is hard to find work. This is certainly true in the US, Canada, and China. AI is particularly good at entry-level work. This is less evident in Europe, and it stands to reason that Europe's labor laws might make it harder to gut the IT department, creating a delayed effect and staving off the inevitable.

Regarding the podcast, in addition to AI, we are living through a period of media creative destruction. The internet gave birth to Netflix and signaled the decline of the major television networks and film studios. Pedro created a story about another media revolution—Radio Free Europe in Portugal in 1968. The story takes place during the height of the Cold War and Portugal's own dictatorship and is full of fascinating contradictions. When I grew up in the 1970s, the odds of me consuming Pedro’s art were close to zero. Now I don’t know what airs on television but pass along good Netflix shows like precious currency in a new bazar.

Enjoy.

If you like this writing, you might enjoy one of my books:

Raising a Thief, Master, Minion, The Uncomfortable Truth About Money

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