The markets are thinking on an extremely short time horizon. After AI takes all the jobs, what exactly happens? How many of those jobs no longer exist now that AI took all the jobs that paid the people to buy the stuff that those jobs produced? Truck drivers? Why drive a truck to Topeka full of stuff if nobody in Topeka has jobs to buy it? We live in a society and we work for each other. This is like your body consuming its muscle to stay alive, and pretty soon after that, you die.

In my opinion, this might happen if we develop AI super intelligence where the AI is simply better than any human at any task.

If AI never gets there, then I don't think we will see mass unemployment. I think people will leverage AI to build businesses that couldn't have been possible before. All of them will still need people.

I've said many times here but I think this is what will happen:

Before: 1,000 companies employing 100 people each

Now or soon: 10,00 companies employing 10 people each