Comment by the__prestige

Where do I even begin?

Speed is unrealistic. It compresses a decade of enterprise adoption into 18 months. Organizations don't restructure at the speed of a demo. And if it were true, companies would also stop buying AI once their customers are broke and revenue is falling. The "rational firm" logic cuts both ways.

"No new jobs" is asserted, not argued. It dismisses 200 years of counter-evidence in two sentences and treats intelligence as one thing when it's really a bundle of very different skills.

Ignores the deflationary benefit. If AI makes everything cheaper, the purchasing power of remaining income rises. The article only looks at the income side and never the cost side.

Consumption collapse is too fast. It ignores savings buffers, severance, spousal income, and automatic stabilizers. Even 2008 took years to fully hit spending.

"Ghost GDP" is wrong. Corporate profits don't vanish. They flow out as dividends, buybacks, investment, and taxes. The distribution changes, but money doesn't disappear from the economy.

Overstates the intermediation collapse. People don't optimize purchases like machines. Brand loyalty, identity, and experience aren't just "friction."

Stablecoin disruption is fantasy. It ignores KYC/AML rules, consumer protection laws, chargebacks, and the reality of merchant adoption.

Assumes zero regulatory response. Governments moved in weeks during COVID. White-collar professionals are politically powerful and vocal. Regulation would arrive fast.