The way I see OP: It's the Luddite Fallacy.

Textile workers worried about machinery saying it's going to result in collapse of the economy when they lose their job.

But every time there's a new technology that threatens some jobs because of an increase in efficiency but investment thus can be placed in other locations creating new jobs. different kinds of jobs.

It's not different this time. Each time the luddite movement is wrong. They are solely concerned with their own selfish concerns and the demands to stop the technological improvement will not be heeded.