[harshalizee]

Can someone more knowledgeable explain the economics of how all this will work?

If the current outlook is that AI will replace programmers, then many other office jobs will be the first or not far off. At that point, who are these corps selling to if there middle and lower class is all but wiped out? Without a steady velocity of money, where is the revenue going to come from that justifies production of goods and services even if fully automated?

Even with an implementation of UBI, all companies will be fighting for scraps because everyone is broke with only enough money for subsistence. Why would anyone have any money in the stock market at that point?

[nequo]

That’s a complex question. You are asking about general equilibrium effects: where the economy will be once companies and workers across industries all adjust to large-scale automation.

Folks who work in roles that are automated away could find employment in other, presumably less well-paid, roles. Or they could end up being the technicians and engineers who manage the automated processes.

The companies can remain profitable even if the purchasing power of workers declines. Their cost could fall due to automation, and their price mark-ups could increase if they manage to drive competitors out of business. So those who own the companies that survive could do well in all this.

[Sateeshm]

I had this exact thought. https://news.ycombinator.com/item?id=35575923