Transcription
All right, so we're talking about AI and basically right now we're trying to figure out culturally where does this thing fit in? Uh, check out the headlines today. This is coming from the bank standard chartered. It says Standard Chartered to replace quote lower value human capital with AI. So I guess that's how we're phrasing this now. Lower value human capital. And if you are categorized as lower value, then I guess AI can do your work and you're out of a job.
Uh, comments from CEO Bill Winters come as the bank sets to uh plans to cut almost 8,000 jobs. It was saying here also I guess total they want to by 2030 so it's just in a few years cut about 15% of their headcount. It says the Asia focused lender said on Tuesday it would reduce its back office headcount by more than 15% or more than 15%. So that's where they're at. And this is a quote here. It's not cost cutting, okay? It's replacing in some cases lower value human capital with the financial capital and investment capital we're putting in. There would be job reductions in favor of machines. So again, replace you with robots and that will accelerate as we go forward into AI. And basically this is sort of the the the talk everywhere. I'm sure you guys know. I'm just showing you guys the new phraseology. I hadn't heard this lower value human capital thing before.
There was another one here and this is actually Bloomberg. It says bank executives AI talk takes a frightening turn for workers and they talk about lower value human capital and then also says here the chief operating officer John Waldron described his firm's traditional operations as a quote human assembly line right for automation. So that's how they think of workers. I don't think that these people are alone in the corporate world. Basically, a human assembly line and they'll look it for, you know, people that they don't like for whatever reason and then replace. And then it's here they're talking about support roles. So, I bet you call centers, uh, any of that kind of stuff is probably going to be on its way out. Uh, imagine calling any kind of bank or company these days and trying to get talk to a human. I think it's going to be tough.
Uh, one person was questioned this says, "It's frightening language indeed. A longtime leadership performance coach." So, this would be like someone who's trying to help people find jobs basically. Would you say those words to your kids? Right. Um, another person says, uh, it's from Wells Fargo CEO. No one wants to stand up and say that we should have that we're going to have lower headcount in the future. It's a difficult thing to say. I guess that must have been the past though. The more recent statements from bank executives suggest that's no longer the case. Yeah. So that was that was in the past. This is also happening as well. And part of what they're doing to try to convince you is that there's still going to be some jobs which which I do think is true. But will people be willing to do it? And we're talking about blue collar jobs. And we've had this conversation several times on the channel. The thing is what they talk about though specifically is the blue collar jobs that they're looking at is to build more data centers to then accelerate the replacing of workers which is the whole thing is is sick. I mean just that's why I want you to see the big picture on this uh the AI economy is rewriting the American dream and blue collar workers are poised to win right and the reason I mentioned the data center thing is they'll try to tell you it's going to pay a bunch of money.
Jensen Wong here. This is from Jensen Wong. Nvidia. This is the largest in infrastructure buildout in human history that is going to create a lot of jobs. That's going from Jensen Wong. We are going to have plumbers and electricians and construction and steel workers and network technicians and people who install and fit out the equipment. Okay. The he added that those roles will bring six figure salaries as US addresses a great worker shortage. And so for them, there's a shortage of workers to build more data centers to replace people. He's claiming six figure salary. And I want to hear from people on the ground on this in your region because I know we actually have people who um, you know, various industries. I just looked it up quickly. Uh, what is the average salary of electrician in USA? So according to this, this would also be coming essentially from the Bureau of Labor Statistics. You're looking at about an hourly wage from 30 to 31. So that would be um, average sorry from 62 to 65. And then you'll have different levels of this. So apprentice would be 32 to 30 to 40. I'm talking about thousand a year. Journeyman 55 to 75. And then I guess the master and senior tech 75 to to 104. I know this is going to depend on the region and such.
Um, if you guys don't know, I actually grew up working construction uh insulation. I also grew up working on a farm. Picked berries, bailed hay, these kind of things. So I I'm well aware of of this world. uh back then. So, this would be like the 80s and 90s kind of kind of era. And if you guys don't know, I'm um, I'm I'm 51 now. And I I just I I've seen a lot. I'll just put it that way. Uh, and for a long time, it was really hard to get Americans to do these kind of jobs and then get them to show up on time, get them to show up on time sober, these kind of things. I know this is upsetting for for people to hear. I'm just I'm just telling you how it is. Now, it doesn't mean every American's like that. I'm just saying back then it was hard to get people to do this kind of stuff. Now the push back that people always say is well if you pay people enough they will do it. So so that part I I agree completely agree. Yeah sure if you if the salaries are decent. So when Jensen is saying like six figure right sure I think I think you could definitely get people to do it but I I question whether or not that is indeed the case. That's why I'm asking you know people I just did a quick Google and it's like they're saying your average is half of that right and then just starting out is going to be a third of what Jensen Wong Wong is saying.
Um, this is also what's going on on American campuses. They're giving commencement speeches regarding AI than in the 50 years prior. Streaming rewrote the economics. Social media rewrote the discovery model. AI is rewriting production as we sit here. I know it. Deal with it. Like I said, it's a tool. Hey, like I said, you can you can hear me now or you can pay me later. Hey, then do something about it. Okay, it's a tool. Make it work for you. You can see some of these people are are really being a-holes about it, right? Uh, here's another person uh giving a commencement speech to Arizona. I think this is the former CEO of Google. You can listen to this. Last December, Time magazine selected its person of the year for 2025 and it would this time it was the architects of artificial intelligence. Interesting. It will touch every profession, every classroom, every hospital, every laboratory, every person and every relationship you have. I know what many of you are feeling about that. I can hear you. There is a fear. We do not know. We do not know the precise contours of what this transformation will look like. Choose a diversity of perspectives including let me add and if you if you'd let me make this point please if you don't care about science that's okay because AI is going to touch everything else as well whatever path you choose AI will become part of how work is done if you have a problem in the world you want to solve you can now assemble a team of AI agents to help you with the parts that you could never accomplish on your own. Let me give you some advice. First, find a way to say yes and thank you very much and good night.
>> And you can see the reaction for yourself. A lot of young people are rejecting this, which I think should be obvious because at this day and age right now, it's really hard to get a job and a lot of the entry-level jobs are being taken uh by automation. Basically uh they're going to try to roll out this stuff also in glasses and try to have more uh you could call it I guess real world implications in terms of like walking around and this is Google saying this is Google to release smart glasses and add AI agents to search engine and they're the way they're describing this stuff they want to integrate like this stuff fully in your life the AI assistant stuff if you guys ever saw the movie I think it's called her with Hoku Phoenix and Scarlett Johansson it it really um captures like sort of the path that we're going to where people essentially develop relationships with their computers essentially or their AI agents. Um, for example, it says here Google has unveiled autonomous AI agents and coding tools within its search engine alongside a new line of smart glasses. All right, as overalls it core product under pressure from rivals Anthropic and Open AI. And there's two things that they're working on. One is like get this for work and also two get it for like your your daily life because the glasses thing would be you're walking around and you know you just search for whatever. Um, they say here it it announced a new assistant called Spark which says it can help organize users personalize, reduce administration and automate repetitive tasks. So that's sort of what they're talking about.
This is actually polling data that just came out regarding what people feel about AI and other topics. You can kind of see how it compares. So the teal here is negative. So on AI, people are 47 46% negative according to this. Trump is at 53 negative. So they're more negative on Trump than AI. Um, and then you got the various parties, ICE and Iran. The key that stands out though is how big the neutral category is because there's still people out there that are just like, you know, I heard about this thing, but not necessarily a strong opinion. But that's at 27. So I personally think it's going to start swinging more to the negative when people really understand what's going on. And then you have the positive which is at 26. And I know if you watch YouTube or whatever social medias, it feels like, oh my god, everyone's going to jump on this AI train. There's tons of AI channels out there, but I don't think that's the regular people. You can see it in the uh in the data.
And then you got to talk about Elon Musk because he represents the pinnacle of this crazy bubble market. Uh, SpaceX picks Goldman Sachs for lead uh left position on the record-breaking IPO. Sources say so end up being the biggest IPO in history. if you remember his XAI Twitter and such combined with SpaceX and there's always rumors he's going to combine that with Tesla and just keep bailing himself out and playing with the numbers. And then I guess the next thing you're going to be hearing about two things really. One is data centers in space they're going to be pushing and the other one is colony on Mars and if he gets a million people at his colony on Mars or sign up or whatever he'll get some great bonus. It's it's some sick future, you know, faking cult essentially what this is. And for me, this is like the pets.com of the uh bubble era of of the.com bubble. And this is probably the peak. So this is um I think this comes out like June 12th or something like that. So keep keep an eye and actually honestly think about these two dates together. You have the UFC fighting at the White House. I think it's like June 12th to June 14th or something like that. and the same day that the SpaceX IPO. So that if there's any time where we're just like like peak lunacy, that would be the date. And so put this all together with people graduating in booze uh to this bubble world. So that's my thoughts on this. like to hear yours and I'll catch you on the next.