Aiden (42:25)
That's what everybody did. Everybody just farmed. That's all you. That's the majority of society was farming even 100 years ago. In the early 1900s, 40% of the money that people earned went towards food. Even though the amount of people dropping weren't farmers anymore. All these new jobs had opened up in society, they still spent the majority of their income on food because food was proportionally way more expensive, much more expensive. Just to be Able to afford to live, just to be able to afford basic sustenance. Now, about 1% of the country in America are farmers, almost none, which means 99% of the country is doing things that weren't jobs before. And we spent about 10% of our income on food. Objectively, you can have a much, much, much better lifestyle in terms of, you know, health, birth rate, medicine, access to food, access to resources. As a poorer person now than you could 300 years ago, the standard of living has raised dramatically. So I think the one to five years is probably not realistic. But the idea of technology is that it allows you to create more resources with less. If we can send electricity through a silicon chip, and that chip can do an enormous amount of business work, that would have taken a while otherwise, or drive a car that is more efficient with less input. And that means, for example, let's look at food. You have imagine the food system right now, but instead of humans planting and managing farms, it's mostly automated. And then once the stuff is harvested by automatic machines, it's packaged and sent to processing plants by self driving cars, which is then run and processed in the factory by self managed robots that are automated. And then it sent to grocery stores that are automatically putting it in stocking shelves. Eventually that drives prices down, particularly if you have competitors who are all competing. This is what has driven food prices down over time. As technology makes it cheaper to produce things, that same thing will happen here as all of the different components think electronics like buying a switch too. If every part of that process of delivery and logistics and creation of the, you know, the mining of resources becomes automated, all of these pieces of these supply chains and product, you know, product creation becomes automated, prices will drop, it will be deflationary. And so even though the average person might not have access to the same number of economic opportunities because prices will be driven down by this, because it will become cheaper to make things, you will require less money and capital to have the same lifestyle. So maybe it will only take 10 to 15 hours of work each week to afford the same level of quality that you have now, right in the future. Perry, if you could pull up this graph, this is a pretty commonly one that's referenced. It's about how services in the United States, the cost of things like hospital services and college have gone way, way, way, way up over the past two decades. And then if you look at kind of electronics of consumer goods, clothing, cell phone services, toys, computer software, TVs, I mean, think about the fact that for $500, you get a TV that's absolutely massive where 10, 20 years ago, $500 TV would. You know, I'm old enough to remember growing up when you had a TV in the family home and it was like the size of a laptop. Right. You know, so there is a real, there's a real concrete way that things get better over time when technology allows people to create more with less. And that's what this is going to do. Now, I don't think that means, oh, your problems are all solved. But that's the idea is 10, 20, 30 years from now, restaurants will be able to offer things for less or at a higher quality because of how much less was required to put into that process.
