The creative destruction of technology … tech's role in snowballing wealth concentration … Louis Navellier's starting gun for AI profits … a key event to watch two weeks from today In December 2019, Democratic presidential candidate Joe Biden was rallying a crowd in Derry, New Hampshire, a big coal mining town. Derry was struggling economically as the long-shrinking coal industry continued to shed jobs. Against this backdrop, Biden provided some eyebrow-raising career advice…and let’s just say it didn’t go over well. According to Dave Weigel of the Washington Post, Biden told the crowd: Anybody who can go down 3,000 feet in a mine can sure as hell learn to program as well…
Anybody who can throw coal into a furnace can learn how to program, for God's sake! According to Weigel, the response was stunned silence. Now, most people believe that environmental concerns have been behind the shift away from coal. And while that’s partially true, there’s been a key economic driver as well. Technological advancements have enabled shale gas extraction to become cheaper than mining coal. It’s just one of many examples of technology reshaping the economy, and the American workforce. Now, let’s take it one step farther… Let’s say one of these miners followed Biden’s advice and became a coder. Unfortunately, that person could soon be out of a job yet again as technology continues reshaping the American economy and workforce. From Forbes in January: In a recent interview with Joe Rogan, Meta CEO Mark Zuckerberg said that AI will replace mid-level engineers by 2025.
He believes AI can take over coding tasks, allowing human engineers to focus on higher-level problem-solving and creativity. The author of the article adds his take – AI will not replace all mid-level software developers, but many will disappear. He concludes: As AI continues to mature – over the next few years – many of the software applications written will be done on command and without the need of these humans. The trend is only broadening and gaining steam. Now, there are silver linings. In fact, investing legend Louis Navellier is positioning his subscribers to profit from this shift thanks to a catalyst happening exactly two weeks from today. But before we get to those details… Older Digest readers will remember a prophetic ad from IBM in the early 1980s... In it, two men watched a mechanical shovel digging a hole. “If it wasn’t for that machine, 12 men with shovels could be doing that job,” gripes one of the men. The other replies, “If it wasn’t for your 12 shovels, 200 men with teaspoons could be doing that job.” At its core, technology accomplishes more with less. Of course, from a wealth-building perspective, this means that “the less” will accumulate “far more.” For decades now, we’ve been seeing this wealth shift occurring on a country, company, and personal level. At the country level, here’s the International Monetary Fund: Inequality…has risen over the past two decades in most regions…
What is contributing to the widening of the income gap within countries? …
The main factor driving the recent increase in inequality across countries has been technological progress. At the company level, here’s the Chicago Booth Review: Since the 1930s, the share of the US economy dominated by the top 1 percent of companies (when sorted by assets) has increased to 90 percent, up from 70 percent.
Meanwhile, the asset share of the top 0.1 percent of companies has risen to 88 percent, up from 47 percent…
The study finds that technology-driven economies of scale better track the broad trend of rising concentration. And on the personal level, here’s the Massachusetts Institute of Technology: A newly published study co-authored by [MIT economist Daron Acemoglu] quantifies the extent to which automation has contributed to income inequality in the U.S., simply by replacing workers with technology — whether self-checkout machines, call-center systems, assembly-line technology, or other devices.
Over the last four decades, the income gap between more- and less-educated workers has grown significantly; the study finds that automation accounts for more than half of that increase.
"This single one variable … explains 50 to 70 percent of the changes or variation between group inequality from 1980 to about 2016," Acemoglu says. Those are just three examples of technology reshaping the American/global workforce and widening the wealth gap. Well, get ready for this trend to explode now that AI is here – especially given one particular aspect of AI… The coming winners and losers of this AI wealth redistribution Louis has been tracking the tech-based wealth shift in recent years: Throughout recent history there's been two kinds of people: The folks who leverage cutting edge technology to get rich… and the folks who bury their heads in the sand and ignore new tech until it has already hit mass adoption. Kodak, Blockbuster, and JCPenney are three of the most well-known examples of companies (and investors) that stuck their proverbial heads in the sand and suffered the financial fallout. Kodak failed to adapt to digital photography (despite inventing it). Netflix’s superior streaming service destroyed Blockbuster. And JCPenney couldn’t keep pace with the consumer shift to online shopping, ultimately dominated by Amazon. As we look ahead today, there’s one aspect of the AI revolution that Louis believes will accelerate this “prosper” or “suffer” wealth binary… Quantum computing. To make sure we’re all on the same page, quantum computing is a gargantuan technological step forward where we leverage the principles of quantum mechanics to process information exponentially faster than classical computers. Quantum computers will be millions of times faster than the most advanced, cutting-edge supercomputers that our top scientists use today. Here's Louis with what this means: The implications are staggering:
• Biopharma companies could discover breakthrough drugs faster than ever before.
• Automakers could develop driverless car systems that really work.
• Chemical companies will develop materials we can't even imagine.
And that's just the tip of the iceberg, folks.
With quantum computing, we're going to start solving problems we don't even know we have. Shifting to the investment implications, all these breakthroughs will redirect the flow of trillions of dollars in the global economy. As technological advancements have done for decades, a handful of companies (and their investors) will leverage these breakthroughs to put themselves on the receiving end of this tsunami of global capital…while the companies (and employees) that don’t leverage this technology will fund that wealth transfer. But there’s a difference today… Because the breakthrough technology is AI/quantum computing, the wealth redistribution has the potential to occur on a scale we’ve never seen before. And Louis believes that what’s happening just two weeks from today could serve as the starting gun… We're just days away from "Q Day" Here’s Louis: On March 20, NVIDIA will hold the first ever "Quantum Day" at their annual AI conference... or what I'm calling "Q Day."
According to the company, it will bring together experts to consider what we should expect from quantum computing in the coming decades.
I believe this will be when NVIDIA makes its biggest announcement of the year...
And that announcement won't just be great for NVIDIA. It'll also be great for select "pure play" quantum computing companies that are partnering with NVIDIA.
Remember: The biggest gains will likely come from smaller "pure play" quantum computing companies. To explain everything in greater detail, Louis is hosting a special summit on Thursday, March 13, at 1 p.m. ET – exactly one week from today, which is one week before Nvidia’s announcement. He’s going to tell you the story of a tiny, small-cap company that’s positioned to be crucial to Nvidia’s anticipated "Q Day” reveal. It boasts quantum technology that’s protected by 102 patents. If you're a newer Digest reader, I should clarify something... Louis is no stranger to making predictions about technological advancements and their impact on specific companies. He made a similar tech prediction about Nvidia itself back in 2016. Had an investor bought Nvidia based on Louis’ analysis – and held on – they’d have 50X’d their money by now. Louis believes 50X gains are on the table again today. Here he is with related details: My prediction is that NVIDIA will figure out a way to marry AI with quantum computing in a way no one has ever done before. We're talking about the possibility of a new technological breakthrough that could affect industries worth a combined $46 trillion.
That means NVIDIA is still a solid “Buy” for long-term investors. That’s my Profit Idea No. 1.
But if you really want to make big gains, you have to start looking at the “pure play” quantum companies that NVIDIA and other Big Tech companies are partnering with. That’s my Profit Idea No. 2.
To learn more about that strategy, you need to be prepared. So, that's why I want to join me on Thursday, March 13, at 1 p.m. Eastern.
That's when I'm hosting my exclusive briefing: The Next 50X NVIDIA Call.
My goal for this briefing is to get you AHEAD of the crowd... AHEAD of the news outlets... We’ll bring you more over the next few days, but to go ahead and reserve your seat for Louis’ research briefing, click here. Whether you can make Louis' presentation or not, recognize what's coming Elon Musk just referred to it on Joe Rogan’s podcast last week. He believes A.I. will be smarter than any individual human within the next year or so. He then predicted that A.I. will be smarter than all of humanity – combined – by 2029 or 2030. Consider the implications… How will such a concentration of intelligence impact the global concentration of wealth? If we follow the trajectory of tech-based wealth redistribution from recent decades, we know the general outcome… “The less” will accumulate “far more.” For Louis’ take on how to be on the right side of this wealth binary, join him one week from today. And I’ll make you one promise about the event… Louis won’t recommend you learn how to code. Have a good evening, Jeff Remsburg | 
