alt Hacker NewsWhich means that those contractors (solo or companies) struggle to get work. For the companies that means laying off some/all employees.
The net result is unemployed or effectively unemployed people, who cut back on extra spending (games, patreon, subscriptions, etc.).
That puts pressure on those people/companies which then repeats as they have reduced revenue. So the cycle repeats.
Yeah absolutly. The question though will be if capitalism is able to update its gain function somehow or if the system collapses.
As long as robots are not there yet, there might be enough of buffer in the whole system for non computer jobs to catch but i'm not seeing this either.
It will increase pressure on every industry.
And it might also lead to an increase in speed of adoption because everyone getting fired, will have the tools to fill any niche.