https://www.cnbc.com/video/2018/07/0...5-minutes.html
Clete you know and I know that technology is the greatest source of job creation ,at the same time that it destroys the need for humans to do other jobs. It replaces old jobs for new jobs,erasing toil that was once essential.
And yes there is a need for that capital allow innovators to create those new jobs .There are no companies and no jobs without investment first, and the investors whose capital creates companies and jobs are attracted to profits. Who do you think creates jobs ,the government ? But I don't have to ask you that because you know better than what you just wrote above
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You really astound me . Without innovation and invention we would still have children working on family farms all day every day just to provide for the basics to survive. With innovation we no longer need children to work so they can devote their time to learning and enjoying their childhood . Mothers and fathers get to spend more time watching their children grow up and the elderly get to retire and enjoy their remaining days .If you don't believe me than go and look at life in those communist utopias .
You're too smart to believe that there will be no replacement for work made redundant by progress. The car replaced the horse and buggy but there were still jobs for the blacksmith and the carriage driver when those job went. Ideally the loss of the mundane job that robots replace will be replaced by jobs people are interested in doing .Maybe those burger flippers will choose to become chefs instead if their passion is in creating food for others to eat .