Technology
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He isn't quoted as saying that he thinks this is terrible though. To me it reads as "that's how capitalism works" in the same way the industrial revolution rewrote the rule book etc. There will need to be a market adjustment people will lose their jobs but the system will survive. Whereas I think it'll be such a seismic shift in a short time the whole thing will cease to function.
I mean he's literally saying we have a problem and the problem isn't technology, it's the way capitalism works. The only rational conclusion here is that capitalism is indeed the problem. There is absolutely no reason why this system needs to survive either. Systems have failed in the past, and capitalism is not exception.
There is so much vested interest though, capitalism has already been past the point of failure, and then measures were introduced to prolong it's life, easy credit, moving away from the gold standard, others to numerous to mention, moving us from a monetary system based on tangeable wealth/assets to our current situation where it all hangs on hype and speculation. But again supply and demand only works if there's demand, if nobody has any money then demand drys up.
Again he's not pointing the finger, he's merely saying it's working as designed, either way AI is one of the current hypes propping up the system so he's unlikely to point the finger there too.
There was so much bested interest in feudalism, and just go read up on how that turned out. All these different tricks the ruling class uses do kick the can down the road, but you can't do that indefinitely. The reality is that the mechanics of capitalism ensure that wealth flows to the top, and the working majority becomes increasingly immiserated. We are rapidly approaching a point where the workers simply afford to make a living. There is growing domestic unrest all across western nations now, and it's only going to grow. As Lenin put it, every society is three hot meals away from chaos.
If a system is working as designed, and the way it's designed to work is at odds with applying technology in a way that benefits society, then the system is the problem. It's very obvious this is what he's saying, and I don't know why it's so difficult for you to acknowledge this fact.
I'm not trying to change anyone's mind, I'm just putting forward my observations, it's clear you have your own views and that's fine.
Let's just agree to disagree then.