You Have 5 Years to Get Rich Before AI Takes Over — Transcript

Full transcript

1. 0:00I'm really worried. You only have 5
2. 0:02years left to get rich. You see, the gap
3. 0:04between the rich and the poor is growing
4. 0:06and every year you wait, it gets harder
5. 0:09and harder to close. Over the next 5
6. 0:11years, the people that have money and
7. 0:13assets will continue to get richer, but
8. 0:15those that haven't accumulated any could
9. 0:17find themselves stuck in the same
10. 0:20economic position forever, effectively
11. 0:23frozen in time. That's exactly why I had
12. 0:25to make this video. You'll notice
13. 0:27there's no polish editing or fancy props
14. 0:29today. That's because this subject is an
15. 0:31emergency warning and I need to get this
16. 0:34video out fast. Look,
17. 0:36I'm an old man. I've seen many
18. 0:38transformational shifts throughout my
19. 0:40lifetime that have completely changed
20. 0:42the way money gets made. Every time
21. 0:44there was a shift, people had to adapt
22. 0:46and those who didn't got left behind.
23. 0:49But here's the thing, none of those
24. 0:51shifts ended up replacing humans
25. 0:53themselves. [music]
26. 0:53However, now,
27. 0:55for the first time in my lifetime, I've
28. 0:57started to question whether that will
29. 0:59still be true because we're seeing the
30. 1:01biggest technological shift I've ever
31. 1:03witnessed, which is of course AI. So,
32. 1:07that brings me back to why do you only
33. 1:09have 5 years left to get rich?
34. 1:14Every job and business exists because
35. 1:16there's a problem that needs solving.
36. 1:18Think about it. A company needs somebody
37. 1:20to answer its phone, so it hires a
38. 1:22receptionist. It needs somebody to sell
39. 1:24its product, so it hires a salesperson.
40. 1:27It needs somebody to manage the
41. 1:28finances, edit promotional videos, or
42. 1:30design packaging. There's a problem that
43. 1:33needs solving and a human gets paid to
44. 1:35solve it. Now, for most normal people,
45. 1:37the problem they've traditionally solved
46. 1:39has been through their job. You might
47. 1:41not own property or a company or have
48. 1:43stocks and millions sitting in the bank,
49. 1:45but you could always sell your time,
50. 1:47knowledge, and skills. And that was a
51. 1:49way of moving up the ranks and getting
52. 1:51rich, but it wasn't always like that.
53. 1:53For most of human history, if you were
54. 1:55born into a wealthy family that owned
55. 1:56land and assets, you'd almost certainly
56. 1:59remain wealthy. And if you were born
57. 2:01poor, there was a good chance you'd stay
58. 2:03poor. That's because the people at the
59. 2:05top owned the assets, and the people at
60. 2:07the bottom worked for them. The only way
61. 2:09to cross the divide was to marry up, and
62. 2:12even then, they'd look down on you for
63. 2:14it. Then businesses and the free market
64. 2:16knocked a hole in that wall, and every
65. 2:19shift I talked about earlier knocked it
66. 2:21down a bit further, until social media
67. 2:23finally smashed it into smithereens. But
68. 2:26the more I think about it, the more I
69. 2:28feel like AI could start pushing us in
70. 2:30the opposite direction. You see, if
71. 2:32people get paid to solve problems, what
72. 2:34happens when AI starts solving those
73. 2:36problems instead? What happens when a
74. 2:38company no longer needs five people to
75. 2:40do a job because an AI agent can do all
76. 2:43the work itself. Those problems don't
77. 2:45disappear, but far fewer humans get paid
78. 2:47to solve them. And if the main thing you
79. 2:49own is your ability to sell your time,
80. 2:51but the value of that time starts
81. 2:53falling, building wealth becomes a lot
82. 2:55harder. Meanwhile, the person who
83. 2:57already owns the company gets the
84. 2:59opposite. Their cost drop, their output
85. 3:01goes up, and they keep the difference.
86. 3:03And that's the part that worries me,
87. 3:05because those walls that block any
88. 3:07movement from poor to rich could slowly
89. 3:09start being rebuilt. And when that
90. 3:11happens, you end up stuck on whichever
91. 3:13side of the wall you happen to be on at
92. 3:15that time. Look, I started this YouTube
93. 3:18channel to help people build wealth from
94. 3:20scratch, just like I did, as I believe
95. 3:23that anyone who learns the skills of a
96. 3:24millionaire can become a millionaire.
97. 3:27That's why I'm so worried, because AI is
98. 3:29attacking my whole reason for making
99. 3:31videos in the first place. And this
100. 3:33isn't just theory anymore. We're already
101. 3:35starting to see the warning signs.
102. 3:40Nobody wants [music] to hear this, but
103. 3:41the entry-level jobs that used to be the
104. 3:43first step on the ladder are the first
105. 3:45ones disappearing. And I'm not talking
106. 3:47about some far-off prediction here.
107. 3:49Anthropic, one of the big AI companies,
108. 3:52looked at how Claude was actually being
109. 3:54used out in the real world. They found
110. 3:56that Claude is now being used for at
111. 3:57least a quarter of all tasks in roughly
112. 3:59half of all jobs. Just a year earlier,
113. 4:02it was only around a third of jobs. And
114. 4:05remember, that's just Claude. It doesn't
115. 4:07even include ChatGPT or any other AI
116. 4:10tools people are using. And this is
117. 4:12where it gets uncomfortable. Stanford
118. 4:14have been looking at actual payroll
119. 4:15records covering millions of workers,
120. 4:17and they found that employment among 20
121. 4:20to 25-year-olds in the jobs most exposed
122. 4:23to AI is now about 19% below where it
123. 4:26would have been if they kept pace with
124. 4:28young workers in less exposed jobs. In
125. 4:30addition to this, older, more
126. 4:32experienced workers in those highly
127. 4:34exposed jobs don't show the same gap.
128. 4:37So, think about what that actually
129. 4:39means. The people already inside and
130. 4:41making loads of money are largely
131. 4:43holding onto their jobs. Well, at least
132. 4:45for now. But, fewer new places are
133. 4:48opening up underneath them. And if you
134. 4:50just looked at the overall job market,
135. 4:52you might miss it because that same
136. 4:54Stanford study found no evidence of
137. 4:56widespread job displacement across the
138. 4:58economy, which is exactly why hardly
139. 5:01anybody is doing anything about it. And
140. 5:03while all of that's going on, something
141. 5:05else has been happening in the
142. 5:06background. In America, the share of
143. 5:08business profits that actually goes back
144. 5:10to the workers in a pay slip has fallen
145. 5:12to 52.8%,
146. 5:14the lowest level since records were
147. 5:17gained in 1947. Now, that decline
148. 5:20started long before AI came along, so
149. 5:22I'm not pretending AI caused it. But, if
150. 5:24businesses can produce more with fewer
151. 5:26people, you can see why this matters.
152. 5:28More output, fewer people needed to
153. 5:30produce it. Who do you think gets the
154. 5:32difference? The people who already own
155. 5:35the businesses and wealth. Now, with
156. 5:37this five-year theory, and remember, it
157. 5:39is just a theory, nobody actually knows
158. 5:42how long it's going to be. I mean, I'm
159. 5:44not some kind of time traveler. But,
160. 5:45what I do know is that right now, most
161. 5:48people seem to be doing one of two
162. 5:50things. They're either assuming they're
163. 5:51going to be absolutely fine,
164. 5:53or they're panicking and running around
165. 5:55like a headless chicken. Neither is
166. 5:57particularly useful. But, if you play
167. 5:59the next few months right, you can put
168. 6:02yourself in a very good position to be
169. 6:04one of the winners.
170. 6:05>> [music]
171. 6:09>> Whenever there's a massive shift like
172. 6:11this, fortunes get made. As I've said,
173. 6:14I've seen it happen over and over again.
174. 6:16With computers, the internet, and social
175. 6:18media, there were always people who
176. 6:20ignored what was happening, people who
177. 6:22were scared of it, and people who
178. 6:24realized quite quickly that things had
179. 6:26changed. Those are always the people
180. 6:28that do well. I remember when the
181. 6:30internet started becoming popular, I set
182. 6:32up an online store for one of my
183. 6:34businesses selling remote control
184. 6:35models. While most people in my industry
185. 6:37were still focused on opening more
186. 6:39physical shops. A lot of people laughed
187. 6:41at it. They thought online shopping was
188. 6:43a fad and that nobody would ever trust
189. 6:45buying things over the internet. But, I
190. 6:47didn't sit there arguing about it. I
191. 6:49just changed the way I was doing
192. 6:51business. And because I moved early, it
193. 6:53gave me an edge while everyone else was
194. 6:55still doing things the old way. It was
195. 6:57the same story when I started sharing
196. 6:59advice on social media. All my friends
197. 7:01down at the golf club just didn't
198. 7:03understand. They thought TikTok was just
199. 7:05a dancing app. But, I saw the
200. 7:06opportunity and just a few years later,
201. 7:09I became the most followed personal
202. 7:10finance creator in the world. And, I
203. 7:13think AI will be the same. Over the last
204. 7:15few months, I've been trying out lots of
205. 7:17AI side hustles and I've actually been
206. 7:20shocked at what it can do. The
207. 7:22opportunities to make real income are
208. 7:24there to be taken. Meanwhile, a lot of
209. 7:26people are going to spend the next few
210. 7:28years arguing about whether it's
211. 7:29overhyped, whether it's dangerous, or
212. 7:32whether it's going to take their job.
213. 7:33The smart people, however, will just
214. 7:35face the facts and work out how to use
215. 7:37it to their advantage while AI still
216. 7:40needs human [music] input. And that
217. 7:42brings me on to
218. 7:47This morning, a conversation with a
219. 7:49young man made me realize I can't stay
220. 7:51quiet about this any longer. He's an
221. 7:53investor and advisor to a
222. 7:55multi-billion-dollar AI company. So, he
223. 7:58has a rare and unique insight into where
224. 8:00the industry is heading over the next
225. 8:02few months. And the things he shared
226. 8:03with me have been truly eye-opening. Do
227. 8:06you know what? Kai, is he still here?
228. 8:12I was actually saying you've been behind
229. 8:13the scenes of some of these AI companies
230. 8:15who are actually shaping the future of
231. 8:17the industry.
232. 8:18>> I've actually been at our offices and
233. 8:20seen stuff that I know the public won't
234. 8:22see until 2027, and it's exciting, scary
235. 8:26at times. Like, it's
236. 8:27>> What you actually seeing people do?
237. 8:29>> Look, there's big businesses using AI,
238. 8:30but for me, what gets me more excited is
239. 8:33seeing the solopreneur, the person who's
240. 8:35trying to start a one-person business or
241. 8:37a side hustle. And what it's allowed
242. 8:39them to do is just level the playing
243. 8:40field. When when you have the right
244. 8:41specialized AI tools, you basically have
245. 8:44all these employees in your pocket. And
246. 8:45look, I don't need to tell you this, you
247. 8:46started in business 40 years ago, you
248. 8:48have four times the experience than I
249. 8:49do. And when you started in business, it
250. 8:51was substantially harder than when I
251. 8:52started in business. And what's so
252. 8:54exciting is now I'm seeing people start
253. 8:57with their businesses and have
254. 8:58competitive advantages that I didn't
255. 8:59have 10 years ago when I started. So, I
256. 9:01think every year, as these tools get
257. 9:02stronger and stronger, as long as you're
258. 9:04not late to the curve, and as long as
259. 9:05you come into it with an open mind,
260. 9:07truly I think there's just no excuses
261. 9:09left for anyone.
262. 9:09>> I mean, look, just the amount of people
263. 9:10that have come to the event, and
264. 9:12especially the ones that have applied
265. 9:13what we taught, and how much they've
266. 9:14actually generated and tracked earnings,
267. 9:16it's just been
268. 9:18mind-blowing to me.
269. 9:18>> What sort of results are you seeing?
270. 9:20>> So, the first time I ran an event, the
271. 9:21people who attended and applied what I
272. 9:23taught generated $8.9 million in tracked
273. 9:25earnings in a 90-day timeframe. And
274. 9:27then, we went back to the drawing board,
275. 9:29changed some things, second time it was
276. 9:31$15 million, third time it was $31.7
277. 9:34million. And then, in aggregate, those
278. 9:35individuals have done over 100 million
279. 9:37tracks since then.
280. 9:38>> To me, it sounds a bit unrealistic.
281. 9:40>> Well, I'm co-owner of and a lot of
282. 9:42these businesses actually run their
283. 9:44entire infrastructure on so I can
284. 9:46see all of the sales data and we can
285. 9:47track this stuff. Now, I want to be up
286. 9:48front, of course, that doesn't mean that
287. 9:49every single person made money who
288. 9:51attended the event, but in aggregate,
289. 9:53that's the data that we have. I've
290. 9:54actually just started sort of preparing
291. 9:56my notes and presentations for the next
292. 9:58one coming up in November, but I've
293. 10:00taken as much as I've seen with my own
294. 10:02two eyes and I've put it into our next
295. 10:04event. And actually, I was talking about
296. 10:06it with the team and considering your
297. 10:08knowledge on the matter and your
298. 10:09audience,
299. 10:11you know, if I know you're a busy man,
300. 10:12but I'd love to have you. I mean, you
301. 10:13have four times the business experience
302. 10:15than I do. You know, I've been in
303. 10:16business for 10 years, you've been in
304. 10:17business for 40 years, you've been in
305. 10:18business in so many different sectors. I
306. 10:20find myself pulling out my phone and
307. 10:21taking notes every time we talk because
308. 10:22there's so much that I learn from you
309. 10:24and take from you, so I just think if we
310. 10:25were to come together, it'd be such a
311. 10:27cool
312. 10:28union, you know what I mean?
313. 10:30>> Obviously, it's got to be free.
314. 10:32>> It's for free, don't worry. I'd love to
315. 10:33maybe even off camera show you a little
316. 10:35bit more of our case studies and results
317. 10:36and
318. 10:37you know, if that's something you feel
319. 10:38comfortable with, then I know the
320. 10:40audience would really love that.
321. 10:41>> I will give it some thought. Um if you
322. 10:43can send me the link, if I decide to do
323. 10:44it, I'll stick the link in the
324. 10:46description.
325. 10:46>> That's all I can ask for, Mark.