Basic premise - the Bosses are using AI to downgrade/downsize workers to maximise returns to shareholders, which eventually leads to the workers not having enough money to consume the products the Bosses’ enterprises produce, so the Bosses fail to make any profit at all due to lack of demand. He argues for a re-think of the nature of productivity to make AI a benefit not a curse to the workers. One thing he stresses is that if AI is going to be used to replace entry level work, where is the next generation of skilled workers going to come from.

We’ve seen something like this already where, for example, do young tradespeople come from? When the Defence forces and the railways stopped their mass training of young tradies, the only source is now the TAFE system which lacks a lot of on-the-job skill training. And the older generation is now largely retired or retiring.