Mid-30s unemployment? Bill McDermott says AI and automation could decimate entry-level jobs. CEO warns 35% of grads may not find jobs.

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Mid-30s Unemployment?!

“I think it’s very natural to be concerned about jobs.

“I think young people coming out of university today, it’s like 9% unemployment.

“I think it could easily go into the mid-30s in the next couple of years.”
– Bill McDermott $NOW CEO

CNBC: “The mid-30s?!”

Bill McDermitt:
“I do, because what’s happening now is for the non-differentiating roles, so much of the work is going to be done by agents.

“So it’s going to be challenging for young people to differentiate themselves.”

Do you understand what happened in the last 12 hours?

> A CEO of a $200 billion company said on camera that 35% of new grads won’t find jobs. He didn’t even flinch saying it.

> Meta made $165 billion last year and is still firing 15,000 people because apparently record profit isn’t profitable enough.

> Some random guy in Florida sold his entire house in 5 days using ChatGPT. No real estate agent, no commission, no experience. Just vibes and a $20 subscription.

> A man in Australia cured his dying dog’s cancer with AI after every single vet told him there was nothing left to do. Built a custom vaccine from his couch.

> The guy who created Uber and left 300,000 taxi drivers broke is back. Building robots now because apparently ruining one industry wasn’t enough.

> Tinder wants access to your camera roll. Your drunk photos, your 3am notes app meltdowns, your deleted selfies. They’re calling it a “vibe check.”

> Naval, the man who made hundreds of millions investing in software, just said software is dead. Four words and the entire industry felt it.

> And Anthropic removed the limit on how long their AI can think and then doubled everyone’s usage for free. Because when the product is addictive enough you give the first taste away.

All of that happened today. Not this week, not this quarter. Today. A random Saturday in March.

This is worse than you being on meth.