It’s what us doomers have been saying all along: Even if we’re wrong and these LLMs can replace all or most professional jobs, it won’t create new jobs to replace the lost ones because the AI can replace most labor. For a global economy built on consumers spending money on goods and services, this is a death spiral where fewer jobs mean fewer consumers, which weakens demand, which lowers revenues (corporate and tax alike), which inflates asset prices (the sole things appreciating in value that can’t be fabricated by AI), which displaces more workers, which further decreases revenues…

You get the idea. This is bad, it’s always going to be bad, and the only fix is a fundamental reorientation of global civilization away from “profit at all costs” and towards better metrics that reflect the health and wealth of a populace than GDP. Doing that would require existing power barons cede their control and cooperate on building such a new system, which they emphatically do not want to do.

We’re fucked, basically, has been our position all along. Either AI via LLMs is the real deal and the economy collapses because corporate and political leaders are too stupid to understand macroeconomics and labor issues, or AI via LLMs is bullshit and the economy collapses because we let the rich and powerful light money on fire for years in pursuit of a boondoggle.

There is no good ending here under current incentives and motives, and not one AI company has actually bothered to challenge or change those so that AI becomes a positive force.