Luke Drago: belief

Transcript context

…The default paths are closing. And this is true no matter, you know, my, I wouldn't bet the house on any one intervention, right? But you know, my company could win everything. We could do everything we set out to do, and the consulting jobs are still going away. I have no interest in changing parts of this pattern. I think it's not our job. Our job is to ensure that the next iteration of the economy works for you, that when this change is said and done, that you're in a better position than ever before to achieve as opposed to a worse one. But the economy is still going to change. Even technology to create new jobs, if that is the way we can move the pendulum instead of being a job replacer, a new job creator, even those change the nature of the economy. And I think that's going to happen basically no matter what. And you're already starting to see it. Your Fortune 500 company that your parents told you have got to join when you graduate from this prestigious college because come on, man, we didn't pay for all that tutoring for you to do a startup or for you to go join a think tank or for you to go to this small company no one's ever heard of. Those are now the least risky options because those are still opportunities for you to win it. They require you to think on your feet and be bright and do well and really understand the environment around you. Those safer jobs are the first target for automation because companies with 500,000 people on their payroll are going to want to cut some of that payroll. If you are an N equals one person at a company, if you do an important job that nobody can replace by virtue of being there, you are much safer than if you do a job that 1,000 other people at your company also do because you are extremely automatable in that role. And I think that's what we're going to see. The automation of rote tasks has the opportunity to do one of two things. It can be the start of a total pyramid replacement where we as a society decide that our value is to replace all work and hope the next thing works out. Or it can be an opportunity for us to build an economy that is more local, that is more individual, that allows you as an outside person to have more opportunities than ever at moving in and becoming somebody. But that's not going to happen if you don't change your path now. And I think this is especially true for like the kind of classic prestige paths, people who like got all straight A's and nailed their SATs and went to the right college and have only ever done the right thing according to the status quo. No matter what happens in the next 10 years, I think now is the time for these moonshots because we know the window is still open. It's become easier than ever and everything else looks more risky. So if you are someone who's hesitated on doing the risky thing and like Jane Street has knocked on your door and McKinsey's come calling, they're like, look, here's this massive paycheck. Come do this for a year or two. ne who's hesitated on doing the risky thing and like Jane Street has knocked on your door and McKinsey's come calling, they're like, look, here's this massive paycheck. Come do this for a year or two. Know that you are going to be on the last chopper out of Saigon. If you manage to get yourself through that, you are the last breed of consultants. That industry is dying. You are the last breed of entry-level whatever. We are moving towards, if we can win, we're moving towards a more specialized economy. And I think no matter what happens, if that's the winning play, I think you should take it. So strong urge of people to take more risks during this time. I think it's more important now than ever. Luke, thanks for chatting with me. It's been really interesting.…

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