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People at the bottom of the economic ladder are being squeezed more aby automation, while those at the top have more opportunities and are paid more than ever before.
The irony is that the problem isn’t a lack of jobs. Rather, it’s a lack of people with the right skills and knowledge to fill the jobs.
The term coined by futurist Peter Diamandis is a process by which technology is rendering previously expensive products or services much cheaper — or even free.
It's mainly happening because we are moving hardware products to software. For example, the phone today has about $1M of applications from a decade ago.
“Live as if you were to die tomorrow. Learn as if you were to live forever.”
Benjamin Franklin said, “An investment in knowledge pays the best interest.”
It's the reason Warren Buffett (& other successful individuals) spends 80% of his time reading.
But, unlike money, when you use knowledge or give it away, you don’t lose it.
In fact, it’s the opposite. The more you give away knowledge, the more you remember it, connect it with other ideas, etc.
Knowledge is the new money. While goods and services are becoming demonetized and replaced by machines, knowledge is becoming increasingly valuable.
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none. Zero.”
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