Thread by @CathieDWood

Another POV on this issue @jwangARK and @andrewchen: Raw labor is becoming more valuable now that the unemployment rate in the US is plumbing new lows and 7.5 million jobs are vacant because they don’t pay enough or because of a skill-set mismatch.

https://twitter.com/jwangARK/status/1124878308821356544

After a long slide, productivity growth is accelerating once again and will benefit both wages and profitability, perhaps the former more than the latter because of labor shortages.

.@ARKInvest believes that five innovation platforms spawning 14 technologies will cause much stronger than expected productivity growth, turbocharging economic activity. Opportunities to move up the economic ladder will be plentiful.

According to @skorusARK’s research, #robots that work alongside humans, collaborative robots, will permeate most industries and leverage the productivity of humans as they drop toward $10,000 per robot during the next five to ten years.

Job displacement will be an issue, but the college loan crisis is putting a spotlight on the ROI of higher education relative to apprenticeships, nano degrees and professional certificates from online short courses, and other forms of training.

The innovation platforms evolving now will be net job creators and, as productivity ramps, so will wages.

The message here is one of great hope! I believe that we should be inspiring, educating, and encouraging the #Uber drivers and others who aspire to better lives - and most do - to pursue careers associated with disruptive innovation.

Uber drivers, in particular, need to plan for a change, as #autonomous technology will subsume their livelihoods. Those of us focused on the new world have an obligation to let them know about both the risks and the opportunities!