Point 2.3 (unemployment feedback loop) is real and has occurred in history - it's called an economic depression. As in the Great Depression, but there are littler ones too.
It, like most of the economy, is a policy decision by Congress.
The kids are alright! This list gives me great hope and it’s amusing to see the usual TESCREAL crowd lose it over at LessWrong over how they should be more worried about post-singularity runaway basilisks and less worried about enshittification, deskilling, and inequality.
Good article
Points 6 and 7 shows how well the students are intuiting LLMs. I think it ties very well into why they think progress from chatgpt 2 to chatgpt 5 was not a drastic improvement. After all, the first car Ford mass produced and current supercars are the same in principle, internal combustion engines for transportation. Engine design, technology development and increased complexity does not change that a car is a car. A Lamborghini is awesome in capability just as the latest LLMs are, but they are still what they are.