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the ladder is being withdrawn for everyone, everywhere. Some will be cut off by AI, some by thugs in ski masks. The modern aristocracy believe they have built an economic perpetual motion machine that can function without the ‘surplus population,’ who will be encouraged to politely starve to death.

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I agree this is what's happening, for everyone to see.

I didn't understand their end game. When everyone is starving, public infra is all on fire, and the 0.1% are snug in their island bunkers, then what? What if their child gets cancer, or they run out of caviar, or their yacht needs a replacement part?

I wonder how true this is, at least for pure CS grads. The industry was aware that smart people existed outside academia ever since Carmack worked at ID. There's not much ladder to pull up, guessing at the number of college grads working a cozy job at FAANG.

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