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Sach got a contrarian belief for 2026. >> Yes, AI will increase demand for
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knowledge workers, not decrease it. I would refer you to Erin Levy's post called Jevans paradox for knowledge
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workers. And the point of Jevans paradox is that as the cost of a resource goes down, the aggregate demand for it
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actually increases because you discover more and more use cases. So I think this
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will certainly happen with code. In the past, it's been very expensive to generate code. You have to hire
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engineers. there's not enough of them. It's an expensive resource. So the
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amount of software generated in the economy was limited by that. I think it's going to increase massively now
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because the cost of generating code is coming down so much. But there's other
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examples too. You take a field like radiology that's frequently cited as a profession that AI is going to put out
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of business. That's not what the data shows. The data shows that the number of
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radiologists is increasing. Why? Because the number of scans that people want to
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make is increasing. And it's true that AI can do some of the work, but you still need a doctor to prompt the AI, to
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interpret the AI, to validate it. So you get more efficient. The cost of scans goes down and instead of it being a
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super specialtity that happens very rarely that you need a referral on top of a referral to get, it becomes
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something that's normalized and everyone starts doing it and you start getting
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more and more scams that leads to better and better outcomes. I think there's
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going to be a lot of those examples through the economy and we're going to look back and see that the job loss
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narrative was not only wrong but we actually got job gains.