Jason Hartman uses this show to focus on jobs. He discusses the rate of jobs disappearing, the specific types of jobs that are being automated, mainly with those involving middlemen and women. In the interview segment, he hosts Ben Way, CEO of Digits. They discuss robots and technology, which is changing society in many ways, from dating to work. Lastly, they discuss the availability of information and data and how it may be holding us back.
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it on Now, here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 0:52
Welcome to Episode 1000 to 18 1018. This is your host, Jason Hartman, thank you so much for joining me today as well. Talk about jobs. We talk about the future of employment. And we’ve got Part Two with our guest benway. Today, and gosh, there’s a lot of change, you know, was it Bob Dylan who said times they are changing? They certainly are. I think they’re changing faster than ever. And I am looking at a Business Insider article right now. And you know, they love to do these lists, articles list of this list that and this one’s about 41 jobs that are rapidly disappearing from the economy. And is your job one of them is the job that maybe someone you know, is it one of these affected jobs. And as we look at the future of automation, the future of robotics, and the future of housing and construction, there’s a lot to say about that, too. You know, when are all of these 3d printed homes that I can Saying passed around social media. When are we going to see those? I don’t see them anywhere. It looks just like a big fantasy to me so far. Now that could change I suppose it could change. But just because it’s 3d printed doesn’t mean it’s not made of something. It is made of what it’s made of commodities, commodities that have intrinsic universal need and are not tied to any one currency. You know, me my whole Hartman risk evaluator concept, or you can dramatically limit downside risk when investing in a real estate deal. And you do that by becoming what by not being a real estate investor. Hmm, odd thing to say when you’re listening to a real estate investing show. Right? And not just that you’re also listening to a consumer advocacy show. Why do I say that? Of course you old timers you listeners that have been listening for 1213 years now, you know what I’m going to say? I’m going to say that I don’t really even like real estate. I don’t think it’s that big a deal at all. I like to invest in packaged commodities, or assembled commodities, the ingredients of a house or an apartment building. That is the investment, along with the mortgage being a critical part of the investment, along with real estate. Yeah, you know, you slap the label real estate on it, and you get all these super cool characteristics, right? Like appreciation, depreciation, leverage, inflation induced at destruction, you get what I call the ultimate investing equation. But but but what you’re really investing in to a large extent, is those packaged commodities, those assembled commodities, that construction materials well Back to the jobs thing. So there’s a lot of talk about how houses will be constructed right in the future, and what they will be made of materials sciences and all this kind of good stuff. Right. But when you look at this article about the 41 jobs that are rapidly disappearing, a lot of it is in textiles. You know, pattern makers for clothing, which, by the way, I have a little tangent here for you. Any of you Trekkies out there? Did you watch the show? Star Trek, you know? Well, I sure did. When I was a kid. I used to love Star Trek, I was a total Trekkie. I had the blueprints for the enterprise, the Starship Enterprise. Captain’s log, blah, blah, blah. Captain James T. Kirk and then there was Mr. Spock a logical guy and the doctor bones bones McCoy, the funny sort of goofy doctor, right?
Jason Hartman 4:54
And then there was Scotty copper and the crystals are gonna blow by the way I may be good at real estate investing and economics and all that kind of stuff, but I have a major weakness. I suck at impersonations. Yes. Wasn’t that terrible? Trying to be Scotty Goblin crystals are gonna blow. Okay, well, whatever. Okay. Anyway, so clothing, textiles. Is it as amazing to you, as we live in this high tech era, this high tech time? That number one, our fellow humans are mostly just becoming kind of uglier, and sloppier than ever before. Now, you think the future would be this really neat, sleek place where people would dress well? Oh, no. They dress terribly today, terribly. They pay no attention to sartorial matters. There’s a vocabulary word for the day sartorial relating to clothing and tailoring and My point being with the whole Star Trek thing, I know I’ve gone down like 10 tangents here. I’ll get back on track and in seconds, it will only be seconds. Look at how they dressed on Star Trek. Now see that is clothing from the future. How is it that we’re still wearing all this clothing? That is like 100 years old? I mean, seriously, you look at clothes for us guys, right? How many ways can you do a polo shirt? Ah, a polo shirt. You could change the color you could. I mean, it’s just silly. It’s like ridiculous, right that there has been so little innovation and clothing. What do we all carry around with us now? a smartphone. You’d think they’d have a frickin special pocket for the thing by now. Right? No instead it’s still the same old clothing from 100 years ago with the same basic design with no special pocket for the smart phone. Now, the ladies, they got it a little better. Have you noticed this? A friend of mine while couple that I know two friends of mine I own a company that sells yoga pants. And guess what? Have you noticed this innovation that has not come to men’s clothing yet but it has come to some women’s clothing? The pocket on the side of the leg, you know where your IT band is below your hip that holds your smartphone. Now I know you could say well, man, we got cargo pants, right? Are those going to come back and style it not the same thing doesn’t work well for the phone. I mean, seriously, the fact that we don’t have a pocket a special pocket and all our clothing for the stupid phone is blows my mind. I mean, it’s like as as ridiculous as the fact that we still have these damn leaf blowers, we’ve got to kill the leaf blower the leaf blower needs to become illegal. I hate leaf blowers. And then there’s those people that modify their exhaust on their motorcycle or their car so it’s really loud and it disturbs the peace. that bugs me too. Okay, back on track. Number 28 on this list has a lot to do with property management, and a lot to do with self management and a lot to do with concept of family office and having our own little family office. Whether we self manage property, or we have managers managing our property. It says number 28. It’s kind of picture of Obama.
Jason Hartman 8:27
What a terrible precedent he was, but Okay, that’s another topic. Don’t go down that tangent, Jason. Don’t do it. Don’t do it. It says one of the jobs that is going away is executive secretaries and executive administrative assistance. They provide high level administrative support by doing research, preparing reports, and performing clerical functions, median annual pay $57,410, the number of people who held this position The US in 2016, ready 685,300. And the projected number 10 years after that in 2026 will be 566,200. So more than 100,000 of those jobs will go away a 17.4% decline. Why does that matter? Why does it matter to you real estate investors? Well, all of this matters for the broader economy and that discussion, but guess what? Why is it that executive secretaries and administrative assistants are going away? Well, there’s this common myth that I have talked a lot about, you’ve heard me talk about it, about how people believe that self management of your properties takes more time and is more work than having a manager now Can’t say unequivocally This is either true or false. I would only submit to you dear listener, and dear investor and dear client, that it might take less time. And I have heard stories of people, our clients, saying that it takes less time to self manage than it does to have a manager. Why would that be? Why is it that executive secretaries and admin assistants are going away? Because it’s the same concept that delegating is not always better when things when technology makes things so easy, right? You know, there used to be this concept that you had your secretary type a letter for you, right? You got that? Okay. You know, someone else would do your typing. Now, I would bet that every single person listening to this Right now does their own typing. I’m just guessing I could be wrong. Hey, we got a lot of listeners out there. And 165 countries, don’t we? But I’m gonna guess that 99% of you, maybe 9.9% do your own typing yet don’t have a secretary to do this. Nobody sends your emails for you. And probably nobody even books, your airline tickets for you. Because technology has made these jobs so easy, that it’s just easier to do it yourself. It’s just easier to do it yourself. Look, I’m all in favor of delegating things and hiring smart people to do certain things that they can do better than me. And you should feel the same way. And even if they can’t do them better, maybe they’re just a lot less expensive than your own time. Right? And so maybe that’s the reason to delegate There are multiple reasons. Or maybe you’ve just become so wealthy, listening to my podcast and following my outstanding investment advice that you just don’t want to do it. Okay, that’s all well and good. But look, I tell you, some of this self management stuff, it’s actually easier to do it yourself to push your own buttons, to send your own emails, to do your own management and to take the third party out of the way out of the middle, get them out of the way. Okay? Because sometimes they make it more complicated. Okay, so just please consider that photographic processors and workers in processing on processing machines, legal secretaries going away, hey, that’s kind of the same thing, right? legal secretaries perform secretarial duties for lawyers and you know it various firms that have legal departments and blah, blah, blah. So a lot of this stuff is going away because it’s the process of and here’s another vocabulary word for you, but you already know what it means. This intermediation disintermediation, see, technology makes it so easy to disintermediate sometimes that is just easier to just do it yourself and have the first hand knowledge and the first hand control and no conflicting agendas. So look, you know what I say if you got a good property manager, keep them if they’re mediocre, too lame, get rid of them and just consider self management. If you’re new at this, don’t do it. But if you got a little experience, you can do it. What else is going away? Okay. Pre press technicians and workers a lot of stuff in the factory grinding and polishing workers. coil winders tapers and finishers are going away. Okay, electrical and allow electronic equipment assemblers you know this is just automation postmasters and male superintendents are going away data entry careers electronic equipment assemblers I said that one well no that was actually a different listing mine shuttle car operators. Now I’m guessing that none of you listening operate a shuttle in a mine but if you do your job is in danger. Okay, so let’s see what else well you know we got the transportation and the drivers of course we self driving car we’ve talked about extensively. electronic equipment installers and repairs and motor vehicles watch repairs are going away. word processors and typists, obviously we just talked about that parking enforcement workers. Yes, see that’s getting automated. Respiratory Therapy technicians are going to lose their job and locomotives locomotive fires. So if you fire a locomotive If I guess that means you attend to those old fashioned kind, I’m guessing that you put the coal into the, into the firebox and you know, boom, boom, there we go. I don’t know. Those are some of the jobs that are going away. Right. They’re going away. And remember what I talked about before, according to the US Census in the last five decades in the last 50 years, the only entire job category that went away due to automation was elevator operator. Elevator operator. Yes, that went away. All right. Hey, without further ado, let’s get to our guests, Ben way. And I am going to have a registration website open with the earlybird deal of the century for our Hawaii events. Yes, I said events that was plural not singular. First week in November, we got some great stuff coming up in paradise in Hawaii. So join us plan your tropical vacation and go on vacation with me and learn about real estate investing make the trip tax deductible. And also if you are looking to obtain real estate professional status, yes, that holy grail of tax statuses that we have talked about many times in the past, this will count toward your hours that you spend engaged in real estate investing. So that’s another good benefit. So plan on joining us in Hawaii first week in November. I know this one is we’re giving you a lot of notice for this trip, folks. It’s a ways away. Rarely do we plan anything this early. But I also want to tell you that because of this new event we are doing it’s called prophets in paradise prophets in paradise. Because of this new event we’re doing. We are pushing back our meet the Masters event. As you know, we we had our 20th anniversary meet the Masters event. Ron Paul was our our big super duper keynote speaker Last January in La Jolla, California, a bunch of other great speakers. Now meet the Masters is usually in January or maybe early February. We’re going to push that back. It’s going to be in March tentatively march of 2019. So we have to space these out a little bit, come to Hawaii with us in November. And then you can take a few months off from us and see us in March and meet the masters. Okay, so meet the Masters will not be in January or early February as it usually is, as it has been for the last 20 of them. Now, we are pushing that back a little bit, because we want to do this new event every year profits in Paradise, that will always be in a beautiful, stunning resort location. All right, Jason hartman.com is the website. Go check out everything there. Make sure you’ve rated and reviewed and subscribe to the podcast so you don’t miss any great episodes. And here we go with part two As we talk about the impact on the economy and our investments of automation and robotics with our guest benway, here he is.
Jason Hartman 18:18
Just look at the world of online dating, for example, can every date just be a virtual date? Will people even be meeting in person? Because with, you know, with virtual reality and all of these different technologies, I mean, it’s really, it begs the question of what is real. It literally begs the question if you saw if anybody saw the movie from a long time ago altered states, where they explored these planes of reality based on these psychedelic drugs, right, it’s an interesting concept, you know, and, and philosophers and sages, you know, for thousands of years have been asking these same questions, but very interesting. So what about logistics? And hard drives. What about that.
Ben Way 19:02
So logistics is actually something that’s quite personal space to me because we actually own a last mile, just a company called ship See, and ships he is all focused in this big revolution that we’re about to see where all logistics will be on demand. So, you know, my belief is that, you know, the way that logistics is done now is going to change rapidly in the next 15 years and one self driving comes in almost everything will be delivered in real time. And the way I kind of explain this is that, you know, retail is effectively dying right now. And so what replaces it, my belief is that you will have, effectively, you know, retail locations where we come to show returns, and by the time you vote for that showroom and you’ve chosen what you want, by the time you get home, it will already be at your door. There won’t be you know, where you won’t take a home with you or come from a sense central district. Shouldn’t point and it already be at your house. So retail just becomes a show, not to mention that it may be 3d printed. Indeed, that’s the, you know, the material revolution is coming as well. And you’ve got all these kinds of connected but disparate industries right now of AI, robotics, crypto, automated automation, machine learning, and they’re all kind of coming together in one single thread. And this is why my belief is it almost becomes exponential, as these technologies converge in the impact they will have on us.
Jason Hartman 20:35
Yeah, it’s really quite an amazing and interesting time to be alive. Pick another category or chapter in the book and tell us about that if you would.
Ben Way 20:43
One of the very interesting aspects is what’s going to happen with police and warfare. We already live in what most people would consider 50 years ago, a surveillance state right everything Do his tracks and Google probably knows more more about me than the police. Say, you got this crazy kind of society shift way we live in a, you know, a surveillance state, but we don’t really feel it. But I think, you know, as robotic technology comes in, and you you know, you have these robotic drones and these robotic enforces, yes, I think that that’s obviously game to have a huge impact, beneficial impacts in terms of crime. But I also think it’s going to make us feel very claustrophobic as a society, right? And you know, one of the beautiful things about America and one of the differences between the UK and the US, and one of the things I love about the us is that you feel free you’ve there is the sense of, you know, I am responsible for my own destiny and, and I worry that, that technology, not just surveillance technology, but all technology is effectively eroding our sense of humanity and ourselves. We’re thinking less And we’re becoming more of a kind of crowd that that, you know, one of the things I’m hearing, or seeing is, you know, psychological effects. This is the kids growing up today are far more risk adverse, right than any other generation. Because they have all the information at their fingertips. They don’t really have to discover anything, right. And there’s always a risk in discovery. And one of the things that is also happening which coming back to your comment earlier about, you know, whether anybody will ever need to date in real in the real world. If you look at the trend that’s happening in Japan. Oh, that’s
Jason Hartman 22:39
really sad. What’s going on? Yeah, is sad. From the male perspective, these men are just not interested in dating. And then the women are marrying themselves. They’re having these so low weddings. It’s the weirdest thing ever. Yeah. Have you seen that? It’s
Ben Way 22:57
Yeah, it is. Crazy but it’s also in a sense not a meeting humans in the real world is both scary and hard work. Sure, I’m aware unfortunately we’re beautiful species but also pretty lazy species. And so you know this technology it’s it’s it is sad it’s it’s sad they don’t get to have the spectrum of experience but this you know, what we’re seeing in Japan, I think is this probably the future trend for most of humanity where we become these isolated beacons, because we have life so easy that we don’t really need to go and explore. You know, sex is on an app food is on the map. Yeah, whatever you want is on that. Why do you go anywhere, then?
Jason Hartman 23:41
This scares me ban. I gotta tell you, this scares me. It really does. I. That seems very sad. But I agree with you that it may well be the future. Sadly, we shall see how it all turns out.
Ben Way 23:55
It may just be a stepping stone in our future. You know, I’m generally very positive about humanity. And I think that we can get to the other side. And I think that there is an opportunity for technology to greatly enrich our lives and maybe even give us the time and the ability to have a new Renaissance period. But I think that the, you know, there’s going to be some really short term negative effects in the next 30 years before we get there. Yeah,
Jason Hartman 24:21
yeah, it’s, it’s gonna be a very, very interesting transition. You know, one of the things you mentioned about kids being risk averse, so you look at the millennial generation. And I would agree with you, because you know, when you can get the information, you don’t need to actually perform the experiment. But there are several bad sides of that, of course, as you know, number one is that a lot of times, you discover something accidentally, during the experiment, you know, we’ve all heard the story of the three m posted notes and a million other stories like that. So by doing the thing, we actually learn something, and we might discover something by accident, right? So that’s one element, but the other element is It harkens back to I remember many years ago reading john Nesbitt, the futurist who wrote mega trends, mega trends 2000. He used to be a pretty prolific author. He talked about how it was easier many times back in the day for a scientist to just perform an experiment again, because we were drowning in this sea of information. Well, now fast forward a couple decades, and Google and other forces have organized that information so well and made it indexed very well. Now we can find the information without doing the experiment at all. So it’s interesting how that equation flipped right? From what you’re saying. It’s it’s a fascinating point to make. But it does make people more risk averse, just like you said, right?
Ben Way 25:48
Yeah, absolutely. And, you know, I think that generally, when it comes to education, there’s two things we get wrong. And the first is that we teach subjects we don’t teach children how to learn. Right to learn how to learn is one of the greatest assets you can give a child. Because once you have that ability, you can go off and do anything. And then the second is that we, and I get it I get from a parental point of view. But we are living in a society now that multicultural our children so much
Jason Hartman 26:20
with helicopter parenting. Yeah, it’s Yeah,
Ben Way 26:24
there’s no chance for a child to really understand rescue and how important learning risk is because a risk itself is not a risk. It’s the evaluation of that risk. So So and what I mean there is that risk itself is good, you need to risk things in life, to achieve things. But what we need to teach kids is how to evaluate those risks responsibly, not not take them.
Jason Hartman 26:56
Right. Very good points. Just wrap it For us with the last chapter in your book, humans and the crumbs left for us, that doesn’t sound very optimistic. And you don’t have to be an optimist, by the way, it’s okay.
Ben Way 27:12
I mean, I am I mean, my book was deliberately controversial in that sense. And I think as you actually read it, you get a sense that there is optimism. And I do believe, you know, I do believe that we are a fantastically diverse and interesting species. And I think we, you know, we will, you know, especially in the creative areas of art, music and films, and you know, we will always have a roll though, maybe not as big as we imagine right now,
Jason Hartman 27:42
you know, you’ve probably seen that video about how music and poetry and of course, writing can all be done by AI. We’re on the verge of that. So I don’t know, do we need to be involved?
Ben Way 27:54
Exactly, exactly. But you know, our heads. My belief is that we will probably ended up as kind of a hybrid of technology and humanity. And I think what you’re actually seeing, if I break it really down to what I think is happening in society, or as a civilization is I think we’re actually almost splitting as a civilization into species. And there’s not biological that’s actually informational. And so you’ve got part of the species that accepts technology and, and is going to get more and more integrated to the point where you can’t be unintegrated and survive, which we’re pretty much there. I mean, most people can survive without their phone for any duration of time these days. And we’re gonna get the, you know, a whole swathe of society that rebels against it, aren’t you because they’re not part of it. And as Funny enough, I’ve just written a new book, which is actually my first piece of fiction, but it’s about lady Venter who discovered Artificial consciousness said about 30 years in the future, and how she has to protect this artificial consciousness. But the fundamental aspects of this artificial consciousness is that it has all the qualities we attribute to God. So it can see the past, it can predict the future, it can answer almost any question. And it’s kind of like this amazing kind of disaster kind of spiritual, technological combination of what the future could be.
Jason Hartman 29:29
Really interesting, good stuff. Well, Ben, give out your website, maybe do you have a separate author website besides digits, you know, for your books, and so forth? Yeah,
Ben Way 29:38
you can always find me at rainmakers global, which is my holding company, pretty accessible. So just, you know, ping me on one of the million channels that I’m probably active on.
Jason Hartman 29:51
Fantastic benway, thank you so much for joining us.
Ben Way 29:53
Thank you very much.
Jason Hartman 29:56
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