Entrepreneurship

What Happens When There’s No Jobs Left?

jobloss

I don’t think people are realizing what’s going on right now. My daughter is 5 years old and by the time she’s 25, half the jobs will be gone.

Retail stores are having a hard time competing with the internet. It’s hard to compete for price when you have rent and employees to pay and your competitors don’t. Payless shoes just announced that it’s closing 400 stores.

Where do those thousands of employees go?

It’s nice to think that they just get a job somewhere else but corporations are moving away from hiring employees. Ask most business owners and managers what their biggest headache is and they will tell you – employees.

McDonalds the largest fast food chain in the world has recently added touch screens. The screen never forgets to ask you if you want to supersize your meal and it shows you a beautiful picture to make your mouth water. It’s just more efficient than a human. The movie theaters, gas stations, grocery stores have all done the same. And it’s moving into the middle class quickly and higher paying jobs too.

AI is so smart its beat the worlds best Jeopardy, chess and Go players.

This is happening because corporations need to provide shareholders with a return on their investment. Which means they need to make a profit. Profit is the driving force. Profit is the difference between what you charge and how much it costs you to get your product or service to the customer. AI, automation and robotics are efficient so they are being used to compete in the capitalist system we are under. China is also on board and moving fast.

Elon Musk said recently that we will have no choice to move to a basic income model because the number of job losses will be too large. A pilot project for basic income just completed in my own province of Ontario because they know it’s coming.

But there’s an alternative. You can stop waiting to be chosen. You can bet on yourself. It’s hard and scary because you’ve probably never been taught to do that before. But you can do it. If you already own a business you will have to stop selling based on low price and start selling based on connection because humans do that best.


Also published on Medium.



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