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
Polar curve area with calculator
What we’re going to try to do is use our powers of calculus to find this blue area right over here. What this blue area is, is the area in between successive loops of the graph. The polar graph ( r(\theta) = 3\theta \sin(\theta) ) I’m graphing it in polar…
Can Stoics Be Activists? | Q&A #5 | July 2019
Hello everyone! Welcome to the fifth Einzelgänger Q&A. Before the weekend, I reached the 50,000 subscriber mark on this channel. When I started back in January, I’d never had expected that this channel would reach this magic number so quickly or, at a…
15 Money Secrets They Don't Teach You In School
The school system is designed to keep people poor and mediocre. It was never designed so you could become rich and live a life full of prosperity. It was designed to raise employees that are obedient and never dream big. And if you want to change that pro…
What was the Articles of Confederation? | US Government and Civics | Khan Academy
So John, people are always talking about the Constitution, but the Constitution was not the first founding document of the United States. What were the Articles of Confederation, and why did they need to get replaced? Well, the Articles of Confederation w…
A Look Inside Billionaire Seth Klarman's Portfolio
Seth Klarman is one of the most highly respected investors ever. He is a value investor and portfolio manager of the investment partnership, the Baupost Group, founded in 1983. The Baupost Group now manages $7 billion and has average returns of nearly 20%…
Aoife O'Sullivan: Expert Aviation Lawyer Reveals All
Hi, I’m Steve Varzano with the Jet Business in London, and we’re here today to start with episode one of an interview about the aviation industry. Today, I have with me IFA O’Sullivan from the Air Law Firm. She is one of the most notorious expert aviation…