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TL;DR
Thorsten Meyer’s new book, ‘After the Paycheck,’ offers a nuanced analysis of AI’s effects on employment and ownership, challenging both doom and utopian narratives. It emphasizes that ownership shifts, not just automation, will shape the future economy.
Thorsten Meyer has released his new book, ‘After the Paycheck,’ offering an evidence-based analysis of how AI is reshaping the economy, employment, and ownership structures. The book challenges prevailing narratives of either catastrophic job loss or limitless abundance, emphasizing the importance of ownership and data control in determining economic outcomes.
The book, available as a serialized chapter and e-book, argues that the core issue with AI’s impact on jobs is not automation alone but the concentration of ownership over models, data, and computing power. Meyer details how AI reaches jobs gradually by peeling off tasks, making disruption less obvious initially, especially for young workers and new entrants. The responses to AI are categorized into three types: income support measures like basic income, ownership strategies such as employee equity and sovereign funds, and skills-based retraining. Meyer stresses that ownership shifts offer the most potential for wealth creation but are also risky, citing examples like Norway’s sovereign wealth fund versus looted funds from wealthy nations. The book emphasizes that no single response suffices; instead, a combination of policies—floors, stakes, and bridges—is necessary. Meyer admits his bias, benefiting from AI himself, but aims to provide a balanced, data-driven perspective.