yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Automated trucks: Blue-collar disaster or economic win? | Andrew Yang | Big Think


2m read
·Nov 3, 2024

Processing might take a few minutes. Refresh later.

The big misconception about the impact of technology in the workforce is thinking that it's around the corner. Instead, it's been with us for years. If you look at the last 20 years or so, we've automated away 4 million manufacturing jobs in Michigan, Ohio, Pennsylvania, Wisconsin, Missouri, Iowa, all the swing states that Donald Trump needed to win in 2016 and did win.

Then my friends in Silicon Valley and my friends who work in technology know that what we did to the manufacturing workers we are now going to do to the retail workers, the call center workers, the fast food workers, the truck drivers, and then even bookkeepers, accountants, insurance agents, lawyers, and on and on through the economy. So what happened to the manufacturing worker is a very clear sign of what's going to happen to these other workers moving forward.

And I talked a little bit about retail workers, the most common occupation in the economy. Thirty percent of Main Street stores and malls are going to close in the next five years because Amazon is soaking up $20 billion of commerce every year. And many of these workers are making $11 to $12 an hour and don't have a huge savings cushion to be able to make meaningful adjustments.

Being a truck driver is the most common job in 29 states. There are 3 and 1/2 million truck drivers in this country, average age 49, 94% male, average education high school or one year of college. They're making about $46,000 a year right now. It's one of the higher paying blue-collar jobs in this country.

And on the west coast, you have my friends in Silicon Valley who are trying to automate truck driving. And the reason they're doing that is because of the money -- $168 billion in financial incentives for automating away truck drivers. And that's not just labor savings. That's also equipment utilization because a truck never needs to stop whereas human-driven trucks have to stop every 14 hours; fuel efficiency because trucks can convoy together in lower wind resistance, and so robot trucks would be able to get places with less fuel, fewer accidents because truck drivers right now kill about 4,000 other motorists a year in accidents and that number would come down if you had automated freight.

So there's a very, very powerful set of incentives to try and automate truck driving as an occupation. Again, though, you have these 3 and 1/2 million truckers, and only 13% of them are unionized. So there's not going to be a grand negotiation. So imagine being a trucker who's taken out a $50,000, $60,000 loan to lease your truck and it's your livelihood and your means of support, and then all of a sudden, you have to compete with a robot truck that doesn't need to sleep.

And that is what is around the corner for hundreds of thousands of truckers in this country in the next five to 10 years when robot trucks start to hit our highways. And Amazon is testing out robot trucks as we speak, right now in the Midwest...

More Articles

View All
Finding function from power series by integrating | Series | AP Calculus BC | Khan Academy
We know that for (x) in the open interval from (-\frac{1}{2}) to (\frac{1}{2}), that (-\frac{2}{1-2x}) is equal to this series, and I say using this fact, find the function that corresponds to the following series. And like always, pause this video and se…
"Why I Started MINING My Own BITCOIN!" (Millionaire Bitcoin Advice) | Kevin O'Leary
We don’t think you should own coin made in China. I said the only way I can possibly not own kind of China coin is to make it myself. So, new game plan: every coin I’m going to own, I’m going to know where it came from, when it was created, and it’s goin…
Warren Buffett: The Big Problem with Dividend Investing
Why won’t you pay a dividend to your shareholders? Well, we think our shareholders 5 years from now will be wealthier counting what they would get from the reinvestment of the dividend. We think they’ll be wealthier if we hold on to the money now. We may…
Meet The $700,000,000 Man Who Lost Everything | Dave Ramsey
I’m an entrepreneur. This is going to work. It didn’t. It didn’t. It didn’t. It didn’t. It didn’t. And then you put something out there that you kind of thought, “Yeah,” and then it goes big and you got, “Crap, I don’t know nothing.” You know, so you just…
Standard normal table for proportion below | AP Statistics | Khan Academy
A set of middle school students’ heights are normally distributed with a mean of 150 cm and a standard deviation of 20 cm. Darnell is a middle school student with a height of 161.405, so it would have a shape that looks something like that. That’s my hand…
Warren Buffett: How to Make Money During the 2023 Recession
So if you’re worried about the economy right now, you’re in pretty good company. According to a study done by CNBC, a whopping 81% of Americans are worried that a recession will be hitting the U.S. this year. You can add billionaire investor Warren Buffet…