Microsoft founder and GMO enthusiast Bill Gates made some pretty grim predictions during an appearance at an event hosted by right-wing think tank the American Enterprise Institute. Grim for them? No, no, silly little person: Grim for you! According to Gates, people are underestimating the number of jobs that will be lost to robots, and unless we’re willing to cut payroll and income taxes out altogether, future businesses will likely not be willing to hire human beings that need jobs. Gates is also against raising the minimum wage, as he sees that as potential discouragement as well. So get ready to work for peanuts or not work at all.
Gates said that within 20 years, a lot of jobs will go away, replaced by software automation (“bots” in tech slang, though Gates used the term “software substitution”).
This is what he said:
“Software substitution, whether it’s for drivers or waiters or nurses … it’s progressing.