This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covell, not filtered, raw, honest.

That's my passion.

Let me jump in where I want to go today right off the bat.

I'd say it's a couple years ago.

A trader, an investor, a hedge fund manager, a venture, a venture capitalist named Brad Rotter, was telling me that technology was

arbitraging away the need for human capital.

People just weren't needed anymore.

And I guess that makes sense intuitively, you know, if you think about the manufacturer of automobiles,

less and less people are needed because robots are taking over.

In fact, speaking of robots taking over, there's a great 60 Minutes piece in the last two weeks,

the last three weeks, last three weeks,

about robots eliminating the need for people. And actually that jobs might come back to America

one day, not for people, but for robots. And if you look at all of society today, and following

up on Brad's original comment to me, if you look at all of society today, and following up on Brad's original comment to me,

if you look at society across all levels, there's just an elimination for the need for people.

So if you have a good job, whatever that definition is these days, count yourself lucky. Count yourself lucky.

Because at some stage of the game, there's a very good chance you won't be needed. You will be

replaced with someone who will take less money or a robot who requires no money.

That's pretty brutal.

Now, since I originally heard that comment from Brad, and I should offer this too about who,

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