Bill Gates warns the 'evolutionary' age of AI will be brutal for workers

Yes and no. Bill Gates is correct in that the incentive structure is wrong, but the perverse incentive structure predates LLMs.

The primary business of software is hiring/firing. Labor acquisition and recruitment is its own multibillion dollar industry, even just in software. For most large businesses this is the primary focus with regards to software development, not product creation.

With that said AI will be disruptive, but the results will be mixed. Yes, it’s bad that many people will lose their jobs once AI gets better about software authoring. However, many of these people would not be there in the first place if software employment required licensing or other forms of professional credentials to ensure minimal competence.

There still remains no vision that AI will replace the actual software engineers, the people who plan application architectures and measure things with numbers. On the other hand if all you do is juggle framework templates to put web content on screen AI is probably already better than people at that job.

Just like in that Microsoft joke: "My husband sits at the edge of the bed, with its thing in its hand, and keeps telling me how wonderfull it is going to be when I'm gonna get it"