“One theory is that companies over the last 10-15 years, unlike in the ’90s, don’t need to hire as many people because the software — loosely described as machines — is doing the work,” he explained. “It’s the classic case of how many people actually work for Facebook versus its market capitalization. Another theory is that a lot of these companies get bought up or they fail — and if you fail, you can’t hire more workers.”
Technology is absolutely phasing out jobs permanently but you also have many companies that won’t offer to help educate and modernize employees with skill sets and tools they need to be more relevant in today’s job market.
So just learn on your own, right? Sure. For me that’s pretty easy. I can look at code and read books and pick up new technologies pretty quickly, but most people are not that adept with technology. Technology is scary to a lot of people.
I see it firsthand when I go home for the holidays and I become the ‘gadget fixer’ for everyone. I’m also the IT department for my mother-in-law, and occasionally, her boss. My wife also has an aunt who’s solution to maxing out her iPhone with thousands of photos is to just buy a new iPhone with more capacity.
I’m going off on a bit of a tangent but my point is these average, everyday people I’m describing are the same people that are susceptible to being made redundant by technology.