Why CODING will make you Poor. (AI, Bitcoin, Tech layoffs, How to actually get rich)

Summary

In this video, the speaker critiques the state of the tech industry, claiming that traditional programming is becoming obsolete as AI takes over much of the coding work. Highlighting the poor work-life balance in big tech companies, the speaker argues that AI will soon replace most programmers, leaving them in dead-end careers. The speaker contrasts this with the rise of Bitcoin and blockchain as a means of preserving wealth, suggesting that these technologies offer a better future than the stagnating tech industry. The message warns against clinging to outdated practices and urges embracing blockchain for long-term financial security.

Takeaways

• 😀 The 'Learn to Code' movement is over, as AI is now capable of coding better than many programmers, and most programming jobs are expected to be replaced by AI in the near future.
• 😀 Traditional tech jobs, such as those at big tech companies like Google and Meta, are becoming increasingly demanding, with poor work-life balance and low vacation time, leading many to leave the industry.
• 😀 Outsourcing and H-1B visa workers are competing with U.S.-based programmers, making it more difficult to secure programming jobs domestically.
• 😀 The tech industry has been stagnating for years, and AI, while hyped, is still far from achieving artificial general intelligence (AGI). Current AI is simply pattern-matching and far from truly intelligent.
• 😀 The tech industry's focus has shifted from innovation to stock buybacks, rather than investing in meaningful technological advancements, reflecting a lack of direction.
• 😀 The rise of blockchain technology and stablecoins could revolutionize the financial sector, providing new opportunities for capital growth and value creation in the coming years.
• 😀 Major companies like Stripe are starting to build stablecoin products, signaling that stablecoins will become a mainstream financial tool, potentially surpassing traditional currency systems.
• 😀 Ethereum's future is uncertain as the Ethereum mainnet may eventually be replaced by other blockchain solutions that are more user-friendly, such as stablecoins.
• 😀 Despite AI's current capabilities, there is a growing belief that the industry will experience a 'bubble burst,' which could leave tech companies in financial distress, similar to past tech crashes.
• 😀 The broader societal implications of blockchain and Bitcoin could entrench social and economic inequalities, with wealth and power becoming more centralized within decentralized finance and blockchain ecosystems.

Q & A

Why does the speaker believe coding is no longer relevant?

The speaker argues that coding is becoming obsolete due to the rise of AI. According to the speaker, AI models can now outperform a significant percentage of coders, reducing the demand for human programmers. Additionally, the speaker points out that tech companies are focusing on AI, not coding, which makes traditional programming jobs less viable.

What is the speaker’s opinion on the future of the tech industry?

The speaker suggests that the tech industry is stagnating and that recent developments, like AI, have failed to deliver meaningful progress. The speaker expresses doubt about the promise of AGI (Artificial General Intelligence) and points out that the industry has seen numerous failed attempts at innovation, such as Web 3.0, NFTs, and the Metaverse.

What critique does the speaker offer about big tech companies?

The speaker criticizes big tech companies like Google, Meta, and Apple for their recent decisions, such as enforcing return-to-office mandates and laying off large numbers of employees. The speaker highlights how these companies are cutting costs, focusing on AI, and disregarding the well-being of their employees. This leads to a poor work-life balance and declining job security for workers.

How does the speaker view the rise of stablecoins?

The speaker sees stablecoins as a potential game-changer for the financial industry, especially in relation to blockchain adoption. They believe stablecoins will become significant holders of U.S. treasuries and that companies like Stripe and PayPal are positioning themselves to lead the stablecoin market. The speaker forecasts that stablecoins will soon be widely used and could trigger a shift in the way money is managed globally.

What is the speaker's stance on blockchain and Bitcoin?

The speaker believes that blockchain technology, particularly Bitcoin, represents the future of capital preservation and wealth building. They argue that Bitcoin, with its decentralized nature, is superior to traditional forms of wealth like gold. The speaker suggests that Bitcoin will eventually surpass gold in importance and that investing in it now is a way to secure generational wealth.

What is the speaker’s view on AI's role in replacing human jobs?

The speaker argues that AI is quickly advancing and will replace most programmers within a year. AI models are already capable of performing tasks that were previously done by humans, which is expected to lead to mass job displacement. The speaker refers to AI as a 'capital expenditure' and sees it as a disruptive force in the job market.

Why does the speaker suggest that programmers are still struggling financially?

The speaker suggests that many programmers remain financially poor because they are stuck in outdated models of work. These programmers are working in tech jobs with poor work-life balance, low vacation time, and no clear path to wealth accumulation. The speaker implies that the programming industry has not evolved in a way that allows workers to thrive financially.

What does the speaker mean by 'the tech industry has been stagnant for a decade'?

The speaker claims that the tech industry has not seen significant innovation or progress in the last ten years. They reference failed attempts at new technologies, such as Web 3.0, NFTs, the Metaverse, and VR/AR, which did not live up to their hype. The speaker believes that, despite appearances, the industry has been stuck in a cycle of unfulfilled promises.

What does the speaker think about the impact of tariffs and global trade issues on tech companies?

The speaker highlights how tariffs, particularly between the U.S. and China, are negatively affecting global trade and tech companies. They point out that delays in shipping, rising costs, and the uncertainty of international relations are impacting tech supply chains. The speaker warns that these trade issues could lead to economic disruptions and layoffs in the tech sector.

How does the speaker describe the relationship between AI and Bitcoin in the future?

The speaker sees a fundamental conflict between AI and Bitcoin. They suggest that AI is a capital expenditure that requires large investments, while Bitcoin represents capital preservation, which is essential for long-term wealth. The speaker implies that only one of these trends can thrive due to the limited amount of capital available, predicting that the AI bubble will burst, leaving Bitcoin as the more stable and valuable asset.