If it is, the fall out will be way worse than if AI ends up living up to (reasonable) expectations.
If it doesn’t, we are going to see over a trillion dollars of capital leave the tech sector, which I think will have worse impacts on the livelihood of tech workers than if AI ends up panning out.
This is something the naysayers need to grapple with. We’ve crossed a line where this tech needs to work simply because of the amount of money depending on that fact.
I don't think it will be worse; if AI pans out the world would be able to continue without a single programmer left. If a trillion dollars leave the tech sector, all those programmers employed outside of the tech sector will still have jobs.
The damage would come much later, well beyond the point where it could be simply pulled out and replaced without spending massive amounts of money and would also basically necessitate training an entire new generation of engineers.
Then the AI giants would start appearing vulnerable like cigarette companies in the 90s while an AI Superfund and interstate class action are being planned but Sam Altman would already be a centitrillionaire at that point so it would be someone else's problem.