Bill Gates published an essay on August 26, 2026 in which he anticipates that artificial intelligence could cause massive job losses in entry-level positions and declares that the transition to this new era will be one of the most tumultuous periods in human history. According to the Ludwig Institute for Shared Economic Prosperity, the true rate of unemployment in the United States reached 24.9 percent in July 2026, far from the 4.1 percent reported by official statistics, fueling the discourse of Bitcoin advocates on the fragility of the traditional system. OpenAI CEO Sam Altman has also changed his tune, suggesting that the pace of AI development should be slowed to give society time to adapt. Gates, who has criticized Bitcoin since 2018 by calling it greater fool theory, warns about economic symptoms that AI could worsen tomorrow without acknowledging that they already exist today.
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