This is true and false. Software is great for creating value: a few smart people can change the world. But the distribution of that profit is greatly uneven (a "few smart people").
As automation kicks in, we will see more value created by fewer and fewer people, leaving everyone else behind. So even if the middle class doesn't go technically backwards, they still have to compete with Microsoft and Google millionaires for assets like housing. We are seeing that already in markets with lots of high tech employees.
As automation kicks in, we will see more value created by fewer and fewer people, leaving everyone else behind. So even if the middle class doesn't go technically backwards, they still have to compete with Microsoft and Google millionaires for assets like housing. We are seeing that already in markets with lots of high tech employees.