Dismal sentiments surround the ongoing AI revolution, even among tech insiders, as highlighted in a detailed social media statement by Menlo Ventures partner Deedy Das.
Das characterized San Francisco’s atmosphere as “pretty frenetic right now,” noting that “the divide in outcomes is the worst I’ve ever seen.”
Through a “back of the envelope AI calculation,” he estimated that approximately 10,000 individuals—including founders and team members at OpenAI, Anthropic, and Nvidia—have amassed retirement wealth exceeding $20 million, while many others fret about their prospects of remaining in well-paying jobs (but under $500k) without achieving that level of success.
Additionally, “layoffs are in full swing,” and “many software engineers are feeling that their expertise is no longer relevant,” resulting in uncertainty regarding future career paths and a pervasive dissatisfaction with work (and its trajectory), as expressed by Das.
This revelation drew some skepticism on X, with entrepreneur Deva Hazarika contending that “most of the people in this post” are “incredibly fortunate and can simply make a choice to be happy.”
Another contributor noted that it’s “pretty damn novel & also kinda nasty” that in this current cycle, “the same technology is both the lottery ticket & the thing eating your fallback.”
This discourse highlights a critical juncture in the tech landscape. As advancements in AI create a stark divide between the privileged few and the many grappling with job security and relevance, it raises essential questions about the future of work and the socioeconomic implications of technological progress.
#haves #nots #gold #rush