Latest / The Jon Sanchez Show / AI Is Replacing Jobs Right Now—Are You Prepared?
Transcript
- Jon G. Sanchez, CEO: Good Friday afternoon to you. Welcome to the Jon Sanchez Show on Newstalk 780K, which it's a pleasure to be with you. It's a pleasure that it's Friday. Oh, amen to that one. A little long week it has been, but overall a pretty good week. Not bad whatsoever. But I don't know about you, but I'm anxious for the weekend. Thank you so much for joining me. I do appreciate it. I will, of course, recap the week on Wall Street for you. We'll talk about some of the big moving events of the week, and most importantly, give you some advice on what should be some strategies you're looking at, contemplating, thinking about. for your money because we're changing every day. This market's changing every day. Different things are becoming positive, different things are becoming negative, so on and so forth. So of course I always like to cover those different types of things for you on a Friday. again, we recap the week on Wall Street. But let me tell you about a topic. ⁓ usually I don't do this on a Friday, but I just felt this yearning desire to cover this topic with you. Speaking of the week, one of the events ⁓ ⁓ did not really get a lot of attention. And I was quite surprised, but it worries me because it tells me that as investors and just society in general, we're getting immune to this. And I'm talking about layoffs. More than 20,000 job cuts. 20,000. Now, let me stop right there. They were announced this week, but let me stop right there for a second. Just to put that in perspective, each and every Thursday, we get what's called the initial claims numbers, right? This is the states, all the states of the country, first time filing for state unemployment benefits. And that number has been hovering between about 200,000 to 220,000. Well, in one week, 20,000 job cuts were announced by the majors, Metta, Microsoft. Of course, a few weeks ago, was Amazon. And let me tell you folks, these numbers are starting to get staggering. The amount of people in our country that are losing their jobs. And what's causing it? Well, you know the answer, AI. Many experts now are going, guess what? You know how we kind of warned that a few months down the road, or excuse me, few years down the road, we're going really start to see unemployment kick up. We're going see a lot of people, millions of people losing their jobs because of AI. Well, guess what? It's happening way sooner than everybody thought about it. So today what I'm going to do after I give you the stock market recap, I'm going to break down what AI is doing right now, how it's replacing the jobs, what it means for your career, and most importantly, what you should be doing right now to protect your financial future. Because I was fearful of this, and I think I said this on many shows. This whole AI in our lives, both personal and professional, it's way faster the best minds thought it was going to happen. And so. AI is changing, it's creating these job losses. And you take a company like Meta, for example, and a lot of their job losses that they've been talking about basically are starting to, they're laying people off in the very department that is working with AI, right? It's the AI, I always call it the AI division of Meta and Microsoft and so on and so forth. These are the men and women that are making AI better, bringing it into our lives, into our businesses. And then, I mean, can you imagine? You give your blood, sweat, and tears for X number of years for one of these companies. And then they go, you know what? You did such a great job. you made so wonderful and so efficient. And you made it really efficient for us here at XYZ Corporation. You kind of worked yourself out of a job. I mean, literally, that's what's happening. But my concern is this is happening, again, much than anybody ever anticipated. And I've said this a number of times on the show, and I'll say it again since I'm on this subject. I honestly feel that we're going to look back and go, remember the good old days of two, three, or where we are now, roughly 4 % unemployment rate? Man, we didn't realize how good we had it, because now we're stuck at 10 % unemployment rate. I honestly feel, based upon my numbers, that's where we're going end up. Because again, so many jobs are going to be lost. Now, will there be make it up in other areas? Well, here's my concern. Sure, we see strength in. is when I cover the non-farm payroll owners. We see strength hospitals and medical overall. You a little bit of strength here and there, depending upon the season of the year, in the trades. But you think about it, a lot of those people that are losing their jobs because of AI, and I'm not just talking at the major technology companies. I'm talking the banking of your favorite at the medical office. Pick whatever industry you want. Every industry's being affected. Our industry's been affected. Everything's been affected. Are those people really gonna go out and get a ⁓ physical type of job like going into construction or some of these areas, the blue collar side of things that are working? Probably not. So what are they gonna do? That's my concern. What are they gonna do? Are they gonna go find jobs elsewhere? Potentially. Potentially. But if this thing gets widespread, as I'll explain as we go through the show, if this gets widespread, let's say going through a round of layoffs in your industry. It's pretty hard when an industry is going through a round of layoffs like we're seeing in technology, just as an example, because I think they're leading the forefront of the layoffs. But it's going to be pretty hard if you've been working in AI for, let's just pick on meta for a second. If you lost your job, one of these roughly or so that are going to lose their job, can you go to Microsoft or to Amazon or somewhere else and do the same type of work? Probably not. And this is my fear, because it's spreading everywhere. So because you lost your job because of AI with your existing company, the old days you'd just go to another company, right? But now everybody's starting, literally just starting the layoffs. So I think, ⁓ whatever you were in ⁓ that caused you to lose your job, it's going to be hard to find that same job at another company. Because everybody, when thing starts to get the momentum that I think it's going to, that's going to create our 10 % unemployment rate, ⁓ then Again, either you gotta retool, Personally, you gotta go find another job somewhere else, completely different industry, so on and so forth. Well, pretty easy when you're young, but a little bit tougher when you're older. So I came across this really, really incredible article, and I invite all of you to read it. I'm gonna kinda work my way through it today. It's on CNBC, came out this afternoon, and I a completely different theme this morning when I was creating my show tease to discuss, and this caught my eye. And it's pretty staggering. It really is. I'm like, you know what? This is something we need to talk about. as discuss when I get into this in a moment, just a couple of things to keep in mind. Here's some for you. 20,000 plus layoffs announced just this week. We've lost 92,000 tech jobs just this year. Here we are, April the 24th. We've already lost tech jobs. If we go back for the last Four and half year, or excuse me, five and a half years, 900,000 jobs in technology have been lost. Think about that, almost a million people. Now you think about it, AI wasn't even really around until about 2022, 2023, it of became Main Street and now, use a baseball analogy, I really still feel we're in, maybe we're in the bottom of the first inning, there's still so far to go. So this isn't a cycle, this isn't some blip, this isn't some unusual thing like the mortgage industry losing thousands of jobs because interest rates are skyrocketing. This isn't a cycle, folks. This is a structural shift that we are going to experience in our country. Whether you experience it personally, maybe a friend, a family member, but it's something we need to be thinking about because eventually it will catch up to your portfolio. Now how? Very simple. Well, one of two things can happen. Number one, company that has, you know, it's losing a lot of jobs, getting rid of a lot of people, why are they doing that? Because they can do your job cheaper, faster, 24 hours a day, seven days a week, and it basically costs them nothing compared to what you and I cost. Okay, number one, remember, payroll is always your biggest expense as a business. So faster, more efficient, so on and so forth. No benefits, no one's complaining about needing a day off, nothing. So you've got that side of it. But the other side you're looking at from an investment perspective if you can get rid of, let's say Meta, right? What did those 20,000 people, what did it cost you as a company? I'm just gonna pick an arbitrary number. Let's say it cost you $10 million for those employees. And you can bring AI in for, ⁓ basically no cost. And now you don't have that massive payroll bill, guess what it's gonna do? It's gonna transition or translate, I should say, not transition, but translate in. to higher earnings per share. Higher earnings per share eventually should indicate the stock price going up. Everybody that still has stock in the company is getting rich. The company's become more valuable. See, there's every incentive these companies have to get rid of you. As much as it pains me to say that, I don't want anybody to lose their job. But it's the facts that are in front of us. So that's where we've got to be very careful is, like I said, 10 % unemployment, I think it'll be here within the next couple of years. And we're just going to be stuck there. And I think we're going to even see some spikes. Folks, you don't follow AI, I'll just tell you, spend little time this weekend, just go to YouTube and look at some of the large models that are out there. Look at some of the technology that is out there. I'll give you just a real brief example. I'm going way off on a tangent here, but it's Friday, we can do this. So last Saturday mornings, like to do every Saturday morning. I still get up at three o'clock on Saturday. So ⁓ I get my and using my... Poor wife, she usually gets up with me. So, you know, 3, 3, 30, we're sitting on the couch having coffee last Saturday morning. And I love YouTube. I'm just perusing YouTube. It's brainless, you know, but you can also learn something. And I came across a company, and I won't say their name, but they're very, very well known. And listen to this. For, I think it was $36 or $39 a month, a business can buy their software. And what their software is going to do, it contains six AI agents. mind you, let's just round it up. $40 a month. Six agents already pre-built. All you have to do as the business owner is say, all right, one of these agents is your social media agent. That's why they have a design. Each agent does a specific job responsibility. So let's say the social media agent. So you will train that agent to, for example, Scroll in whatever you tell it to do. Go scroll Facebook and LinkedIn and everything else. Let's say you're marketing company. Go scroll for the trending marketing social media posts and then write my own post for me. Go scrape the internet for the best stories related to marketing. Write a blog for me. You get my point? So every one of these agents, and I don't remember exactly, but they're pretty common things like you would have with employees. You had a marketing agent, you had a social media agent. there were six of them. And you just tell them what to do. Well, think about this. Every one of those agents just replaced probably, who knows, ⁓ to five employees, depending upon the size of your company, maybe more, for 40 bucks a month. And I promise you, they will do a better job than the human being will. Why? Because they're going to work 24 hours a day, seven days a week. No vacations, no pay raises, no medical benefits, no nothing. For $40 a month. That's where we're going. That's where business is going. And that's just for small businesses. Imagine what's available again for the very, very large Fortune 500 type companies. It's fascinating. You don't want to miss this topic. It's very, very fascinating. Scary, but we got to talk about it. All when I come back, I'll give you a recap of today on Wall Street, and then we'll get into that topic. Once again, the future isn't the problem. It's happening right now. AI taking jobs away. It's turned over to Chris and snow right now traffic center. We're back to the Jon Sanchez Show on Newstalk which don't forget if you missed any of today's action or this week's or any other time, please go to YouTube, please go to Spotify, please go to our website, sanchezgon.com, and we have all the previous shows there for you, either audio, or both. All right, let's down to the stock market side, and then we're gonna talk about AIs replacing your jobs right now. Question is, are you prepared? Well, you're gonna find out here in a few seconds. All right, to the market. Well, interesting day. I'm not gonna talk a lot about oil. I'm sick and tired of talking about oil. I'm sick and tired of talking about Pakistan. I'm sick and tired of talking about Iran. Because we don't know what's going on. Everybody lies to us. It's gonna, this is gonna happen, that's not gonna happen. Someone says this, someone says that. You know what? Do whatever they're gonna do. I don't know if you're to that point. I'm exhausted talking about it and trying to predict it. It's ridiculous, it really is. I think investors, I've said this theme over and over again on my Friday recaps. Investors have headline exhaustion. I know I do. I'm thinking you are probably the same. It is, it's exhausting. But here's how we finished up, all that matters. Did you make money today? Well, depends upon where you were, but most likely you probably did okay. A little bit of a tough session for the Dow. We couldn't get anywhere again today. Down 80 on the Dow, just a fraction of a percent loss. Our close is 49,230. Well, let's throw that Another record-setting session for the NASDAQ and the S &P. NASDAQ, what a week it's had. Surging today 398 points, 1.63%. Record finish of 24,836. S &P gained 57.80 % to a record close there of 7,168. And the Russell 2000 up 12 points, or 0.43%, closing at 2,787. On the weekly basis, the Dow lost 4 tenths of a percent. NASDAQ rose 1.5, and the S &P 500 on the weekly basis, higher by 6 tenths of a percent. Where do we sit year to date? numbers are edging up nicely. Let's start with the best performer by far the Russell 2000 the small cap index a percent gain year-to-date through today's the Nasdaq's 6.9 percent for the year SP higher by 4.7 and the Dow has risen 2.4 percent All right on the mover side of things today Intel It was all today remember this company was just on a lifeline right remember the government came in What's the word? Stabilize the balance sheet. I'm trying to be nice here. Nvidia did. A lot of companies have come in, countries, et cetera, given a bunch of money. Well, it seems to be paying off. They had just a blowout earnings numbers. Don't know if the earnings per share expectation and the revenue were just so low that anything, you know, it was hard not to get better numbers, but they did. And then I won't bore you with them, but the stock rallied hard today. $15.79 gain, 23.64 % with Intel closing at $82.57 a share. And again, what it did more importantly is it really just brought the whole semiconductor group up. Nvidia was another strong performer. 4.32 % rise of $8.62. 208.26. Remember this stock just few weeks ago down in the 170 range. Matter of fact, Nvidia, it's up 38.6 % since the end of March. Think about that. Almost 40 % since the end of March. Let's see Amazon was strong again stocks got a lot of momentum. Hope it's in your portfolio $8.91 cent rise today 3.49 percent 263.99. I bet that layoff announcement that we're gonna be touching on better $15.90 increase 2.41 percent to 675.05 is exactly what I'm talking about Wall Street loves when these companies announced layoffs because it's gonna have a positive impact to the bottom line Microsoft Oh another one announced layoffs this week. What do you know stock went up $8.85 for 2460 Gug up $5.51 to $3.4460. All right, on the war situation, again, I've lost track today. What's going on? We get one news coming out of the DOJ, or excuse me, out of the Trump administration. Then we get some from Pakistan. Then we get some from Iran. yeah, bottom line is supposedly more negotiations are supposed to happen this weekend between US and Iran. It's going to happen in Pakistan. Pakistan's going to lead it. We know that hasn't gone too well. We know that the president this week gave an indefinite deadline to the ceasefire between us and Iran. Let's see what else happened. Oh, yesterday Lebanon and Israel announced a three week ceasefire there. So, know, with the Strait of Hormuz, they'll basically close down. So nothing happening there. Oil prices today down a buck 34, 94, 42 a barrel. that's what I mean. Streets is not paying attention to these headlines really whatsoever anymore. $16.80 rise on gold, excuse me, 4,739.80 an ounce, down one basis point on the 10-year treasury tool, yielded 431, up six basis points for the week. ⁓ other big headline today, huh, what a shock. Don't say I told you so. The Trump administration today, meaning Department of Justice, dropped their criminal probe, a Fed chair pal. What do you know? Couldn't be because the courts just last week said, No, you have no case for this. Could be because everybody on Wall Street said, you have no case for this. The guys did nothing wrong. Matter of I got a nasty email from one of you, I don't know, week or so ago saying basically that, you know, call me stupid because I said, Powell is probably one of the most honest, ethical guys that is out there. He just is, that's his track record and so on and so forth. And I gave him all the reasons and he's like. he's over budget by $2 billion on the renovation of the Fed building. My response is, do you really think Fed Chair Powell is walking the construction site every day with his yellow hard hat? He's not. Frankly, he doesn't give a damn about it. He's running the world. He running the world. And a couple billion dollars, if it's overrun, I'm sure got other things to worry about. But to call him illegal, as Trump did, That irritated me. That whole thing started. Well, sure enough today, the DOJ is like, you know, we're just we're dropping the suit against him. Well, the political side. This is what makes me disgusted. So remember, we had U.S. Senator, his name escapes me right now. We one U.S. Senator saying, I am not to confirm Kevin Warsh until this lawsuit by the DOJ and the Trump administration is dropped against Chairman Powell for the budget overruns. Not gonna do it. Well, we know Kevin Wurst went through days and days of confirmation hearings this week, and this one Senator, there's a couple of them, but he's the main one, basically said, no, we're not confirming him until those lawsuits drop. Well, guess what? Out of the blue. DOJ drops the lawsuit. Why? Because Trump wants Kevin Warsh by the Senate. And you the sarcasm in my voice and the frustration in my voice. You know, it's one thing, and I don't care for Trump or Biden or whoever it is, it's one thing to have a legitimate case against somebody. But let me tell you, when you go after a man's reputation, and especially a man that's at the end of his tenure, that has done some of the most remarkable things, for our economy. He steered us through COVID and just many, many things. I'm going to miss him. But when you threaten a man's credibility and his reputation with a frivolous lawsuit, that's where I get upset. And that's where I'm upset. I really am. And I Chairman Powell even more now that he had to go through this. I feel so terrible for the man. that he had to go through this again with essentially a month remaining. And remember, he said, I'm not leaving this job until my name is cleared. That's how important it is. I mean, think about your reputation. Imagine being the reputation or thinking of your reputation if you're the most powerful man in the world, Federal Reserve Chairman of the United States of America. And now all of a sudden, because of political reasons, it's just dropped. That tells you, of course, it was a frivolous lawsuit against him. And now the man has to recover. So I'm real upset about it. street got a little excited. We had a nice improvement in the market when that news broke this morning. But man, ⁓ man, I just can't stand coming into play ⁓ it comes to And we know the whole thing with stem from Trump's with ⁓ Powell cutting interest rates fast enough. ⁓ We that's where it all comes from. But when you start screwing with a guy's reputation, that's where the guy draw the line. All right, come back. We'll talk about AI's replacing your job right now. Are you prepared? We'll find out. Let's turn it over to Jack Saban. He's got news traffic with Jack. Welcome back to the Jon Sanchez Show on Newstalk 780K. Which happy Friday to all of you. We're going to get to our AI replacing jobs now. Not in the future, now topic in a moment. Once again, we lost 70 or excuse me, 80 on the Dow. Record close on the NASDAQ up 398 to 24,836. S &P gained 57 points, 0.80%. And oil for the day down $1.34 to $94.46 a barrel. OK, so let's get to this great story. Once again, CNBC wrote this incredible story today. Got my attention. made me start thinking, uh oh, this is happening faster, it's kind of what I've been saying, and warning, warning, warning, and here it is. Thursday was a tough day for people. I feel bad for them, absolutely terrible. More than 20,000 potential job cuts were announced this week at Meta and Microsoft. And I'm gonna throw Nike in there for a few hundred. Remember, this is just a few months after Amazon announced the most widespread layoff ever. And many analysts are now thinking, you know what, this is just basically just the beginning. And again, the ironic thing is the same companies that are spending hundreds of billions of dollars, between just a handful of major tech companies, by the way, billion is gonna be spent over the next year in AI. So these same companies that are spending these hundreds of billions of dollars a year to build that AI, to meet the soaring demand for various AI services, are also looking for efficiencies and basically improvement to the bottom line by getting rid of people, slashing the headcount. And many economists and industry experts are very fearful that a labor crisis may be upon us today, not coming sometime in the future like they had been saying. And this is coming about because how quickly AI is sweeping across corporate America. As of this week, over 92,000 tech workers have been laid off so far this year, as I said earlier. That's according to layoffs.fi, bringing that total, also as I said, to almost 900,000 job losses since the year 2020. Now this represents, this is according to executive coach and leadership expert who worked in AI, fellow by name of Anthony Tuggle. He said, this represents a fundamental structural shift rather than a temporary market correction. witnessing the beginning of a permanent transformation in how work organized and executed across all industries. Now job really began at the rise of OpenAI ⁓ when it ChatGPT, remember that, in late 2022, showing again the unreal capabilities. ⁓ of chat bots powered by the new AI models. Workplace Faire started intensifying last year's Anthropics Cloud tools, is, you haven't used that, ⁓ unreal, began doing the work not just for a person, but literally whole business divisions. And then that raised the specter that these wide swaths of existing software solutions may be in jeopardy. That techno optimists, as they're called, argue that AI is reshaping human work, not replacing it. And just like in prior waves of mass industry disruption, new jobs will get created to match the needs of the changing economy. For example, mobile app developers, after all, didn't exist in the days before smartphones. And what use were AIT administrators before we created servers? A by the name of Rajat Baharjiriya, I know I'm slaughtering his last name, he's the CEO of the physical AI startup Chef Robotics, that while AI is likely to create jobs, it's just less uncertain what that will look like at the moment. He we're only starting to understand how much of our daily work AI can handle for us across different kinds of jobs. Now Meta only hinted at AI in its announcement on Thursday, right? They typically do that, but we all know the difference. Company told employees in a memo on Thursday it plans to lay off about 10 % of the workforce, equalling approximately 8,000 jobs, with the cuts beginning on May 20th of next month. Obviously. Quote, part of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making. Meaning the AI spend, as I said earlier. The company is also scrapping plans to fill 6,000 open roles. Think about that. 6,000 job not anymore. Now, again on Thursday, around the time that Meta released that news headline, Microsoft confirmed that they're going to offer voluntary buyouts, a first for the 51-year-old company, by the way. That equates to about 7 % of their US employees are eligible, according to a person familiar with the plans. Well, that's not to be named, because the number isn't quite being made public yet. With about 125,000 US employees with Microsoft, that can add up to about 8,750 job cuts. It wasn't just in tech, Nike as I said. They announced a new round of layoffs Thursday. I'm sorry, I was thinking it was a couple of hundreds, actually 1,400 employees across the company, mostly concentrated in its tech department. According to their chief operating officer, he said the following quote, these reductions are very hard for the teammates, directly affected, and for the teams around them too. Job search site Glassdoor's recent employee confidence index show the tech sector has been the largest year over year drop in confidence of any industry ever, falling 6.8 percentage points in March from a year earlier when the reading was 47.2. Glassdoor's chief economist said fewer people are quitting their jobs, fear of the unstable job market, a dynamic that comes at a cost to employee morale and career satisfaction. It also means even more job cuts. Quote, because natural attrition isn't happening much, companies are being much more aggressive about pushing people out the door. Whether that means explicit layoffs or raising the bar for performance reviews, there's a whole host of measures employers are taking to cut work for cost. had conversations with a few people this last part of the year that I just read to you about raising the bar for performance reviews. I've heard that over and over again. You have been expected, this picture scale of one to 10, right? You ⁓ maybe expected to perform at least at a seven. ⁓ Now they're saying you need to perform at least at an eight or an eight and a half. some people aren't able to do that. And now the company says, you know what? You're not performing your job. You're gone. So there's all kinds of games employers can play. Now, Snap last month said that they would slash 16 % of the workforce. That's about 1,000 staffers. And that at least 300 open positions would also be closed. Their CEO cited AI-driven efficiencies in a letter to staff. Remember, Salesforce, simple CRM, down component. They laid off 4,000 customer support roles in September when their CEO Mark Benioff said, quote, I need less heads. Let's talk Oracle, one of the big dogs. They said in March that it was laying off thousands of employees as it ramps up AI spending. I found a note by a TD Cowan analyst who wrote the note back in January. And he said, eliminating 20,000 30,000 jobs at Oracle, I'm talking, would result in $8 to $10 billion in incremental cash flow, free cash flow, that is, for Oracle. Think about that for a second. Let me share that again. At Oracle, eliminating 20,000 to 30,000 jobs could result in 8,000 to 10,000. billion in incremental free cash flow. That's amazing. See, that's what I said at beginning of the show. It all equates to the bottom line, right? leading the pack among tech companies, how about Amazon? They've cut at least 30,000 jobs just since October. That's about 10 % of their corporate and tech workforce. Between the mass layoff announcements that conducted, rolling layoffs across the company, though at a smaller scale, Google has also carried out smaller but regular job cuts since 2023. But again, these companies obviously are not giving up on AI. if they've got a dollar to spend, are they going to spend it on you, the employee, like the old days? No, they're going to take that dollar, they're going to spend it in AI, where they can get multiple gains on that dollar. Here's an example. Alphabet, Microsoft, Meta, Amazon, all expected to spend nearly $700 billion combined this year to fuel their AI infrastructure buildup. You know what, I'm going to go ahead and take a break and I'll wrap this up. You get the point. I hate to be a bearer of bad news, but this in front of us now. And if are in an industry where you think that, and stop and think, if your job is something that AI can overtake and do, and ⁓ again, unfortunately, do a lot better than most of us can do, your job is at risk. Maybe not today, maybe not tomorrow, but coming very soon. Companies are getting very, very efficient. You should see the amount of marketing material solicitations I receive via email, text messages, et cetera, of companies basically look at what we can do for you, AI versus having employees. It's mind boggling. Like I said, I gave you that story of for 40 bucks a month, you can go out and buy a software package that'll have six AI agents ⁓ that for you 24 hours a day, seven days a week. Are they a replacement for human beings? ⁓ Not at this point. Are they gonna be? Potentially. So, wrapping up with Kristen Snow, right now, Traffic Center, Kristen. Welcome back to the Jon Sanchez Show on Newstalk Once again, we lost 80 on the Dow, we gained 398 on the NASDAQ to a record close, and the same situation with the S &P, a record finish there of 57 points. All right, talking about AIs replacing jobs right now. Are you prepared? Okay, so you now know the stats. You know what's going on. But I don't care about those people that are losing their jobs. What I care about is you. What are you gonna do if you find yourself in an industry where again, AI is coming in and it's coming in hard and it's coming in fast. That's the whole situation right now AI is replacing jobs, but it's doing it much faster than what anybody else anticipated. So here's I want to finish this up for you. I want you to realize again that this is not something of the future. This is here now. Job losses are occurring Remember, AI doesn't take breaks, doesn't call in sick, doesn't ask for a raise, doesn't need a paycheck. Employers are going, my God, this is the best thing that I've ever seen. literally as we've done many shows on, solopreneurship, people are making millions of dollars a one man or one woman operation because they've got all these little agents running around as I said about that software and others like it. It can it is happening. So what do do to prepare? First thing, and this is not Wall Street advice, this is Jon Sanchez, Friend to Friend, Me to You. If I was fearful of losing my job because of AI, first thing that I would do is I would do everything that I could, everything that I could to understand small business. Because I think what we're gonna see happen when we hit my 10 % unemployment rate. Those that can survive with their own business are gonna be the ones that succeed. We have an opportunity ahead of us. of us that are involved in AI and that are self-employed, we have an opportunity ahead of us that we'll probably never have in the rest of our lives. Because never ⁓ my 62 years on this earth have I ever seen a time period where I literally, as I've shared with you, I can go start a business. I've done it. I can go start a business in a matter of a couple hours. I'm talking getting the domain, getting the website up and running. getting a virtual phone number, da da da da da, do it all in a matter of a couple hours. And that can run with one or two people because of AI agents. So if you think you're gonna lose your job, what it's like to be a small business owner. Start part time, be prepared. But eventually this is where I think you're gonna see the most tremendous growth in our country. it's not going to be going to work for somebody. It's going to be self-employed because you can do it so cheaply, so efficiently, and so profitably because of AI. Second thing, build multiple streams of income. If you're just relying upon your job, as many people are, you need to think about, again, maybe a small ⁓ business or something to bring in other additional sources of income. Focus on financial independence. That's my other advice. ⁓ rely upon that paycheck because with AI, you never know when it can change or when that paycheck can be gone. And most importantly, stay adaptable. You got to be like the old Gumby days. For those of you old enough to know what I'm talking about, remember the clay creature? Be flexible. Be able to bend. Be able to go from point A to point B. don't know what's ahead because AI is changing things so fast. ⁓ can look at this as a negative and go, ⁓ my god, I'm going to lose my job. Or you can go, ⁓ know what? I've got one of the best opportunities in my entire life because of AI that I can create whatever business I want and become very wealthy. But you got to start now. God bless, have a great afternoon, great weekend. I'll see you on Monday on the Jon Sanchez Show.