Will AI Wipe Out Half of White Collar Jobs or Is There an AI Bubble?

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.5 • 1.4K Ratings

🗓️ 16 July 2025

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

We explore the compelling questions surrounding artificial intelligence. Will AI create more new jobs than it destroys? Is AI already destroying jobs? Are we seeing overinvestment in companies and infrastructure in the AI space? Is there evidence that AI has increased productivity?

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Show Notes

Behind the Curtain: A white-collar bloodbath by Jim VandeHei and Mike Allen—Axios

Yuval Noah Harari Statement - Post by Nunki08—Reddit

Challenger Report June 2025—Challenger, Gray & Christmas

Entry level jobs fall by nearly a third since ChatGPT launch by Karl Matchett—The Independent

Strategic Insights for M&A in the Evolving AI Market—S&P Global

Nvidia Becomes First Public Company Worth $4 Trillion by Tripp Mickle—The New York Times

Silicon Valley is racing to build the first $1trn unicorn—The Economist

How to use generative AI to augment your workforce by Betsy Vereckey—MIT Management

Humans must remain at the heart of the AI story by Marc Benioff—The Financial Times

The AI Industry Is Radicalizing by Matteo Wong—The Atlantic

TASKS, AUTOMATION, AND THE RISE IN U.S. WAGE INEQUALITY by DARON ACEMOGLU AND PASCUAL RESTREPO—Econometrica

MyPillow CEO’s lawyers fined for AI-generated court filing in Denver defamation case by Olivia Prentzel—The Colorado Sun

Which Workers Will A.I. Hurt Most: The Young or the Experienced? by Noam Scheiber—The New York Times

Generative AI at Work by Erik Brynjolfsson, Danielle Li, Lindsey Raymond—Oxford Academic

The Illusion of Thinking: Understanding the Strengths and Limitations of Reasoning Models via the Lens of Problem Complexity by Parshin Shojaee et al.—Apple

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439: How and Why to Invest in AI

417: Will Generative AI Replace Your Job?

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Transcript

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0:00.0	Welcome to Money for the rest of us. This is a personal finance show on money, how it works,
0:05.3	how to invest it, and how to live without worrying about it. I'm your host, David Stein. Today is
0:10.7	episode 531. It's titled, Will AI wipe out half of white-collar jobs? The current state of AI.
0:19.3	Recently, Dario Amode, who is CEO of Anthropic, an AI company, told Axios that AI could wipe out half of all entry-level white-collar jobs
0:31.2	and that the U.S. unemployment rate could spike to 10 to 20 percent in the next one to five years.
0:38.8	Historian and writer Yvall Noorari, who is the author of Sapien, says you can think of
0:46.4	the AI revolution as a wave of billions of AI immigrants.
0:51.1	They don't need visas.
0:52.6	They don't arrive on boats.
0:54.1	They come at the speed of light.
0:55.9	They'll take jobs. They may seek power. And no one's talking about it. MIT economist Danielle Lee
1:02.5	said humans are paid because expertise is rare. The moment your expertise stops being rare,
1:09.9	you stop getting paid. And she mentioned that because
1:13.2	humans are paid for the rarity of their skills that if AI comes along and takes that skill and
1:19.7	lets it live outside of people, then that will impact employment. I hear and read scary warnings
1:26.8	like that, and then I go back and work with AI,
1:30.6	one art touring test to see if it's capable. Can it take a transcript that was generated by AI? And then we
1:39.7	use the 03 OpenAI large language reasoning model and say, please correct the grammar, add some
1:48.0	paragraph headings. When I tried this two years ago, the latest model of chat GPT couldn't do it.
1:55.2	In fact, at one point, it added a fictional character to the podcast in our transcript and apologized for adding a fictional
2:03.4	character. But we tried it again a few weeks ago. Just correct the transcript. Don't summarize
2:08.8	it. Correct it. And add some paragraph headings. And it still couldn't do it. And I asked
	...

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