It’s Mindset, Not Tactics

Are you starting to accept that the rise of Artificial Intelligence will create a tsunami of redundancies in the UK in the next five years?  

If you’ve given the subject a second thought at all and the answer is yes, then there is an ‘elephant in the room’ question you’ll be asking yourself.

‘What are all those people going to do for money and food?’

While the Davos crowd are suggesting Universal Basic Income as a panacea for poverty and countries like Canada, Wales**, Finland, Spain and the USA  are trialling it already, most rational-thinking people know that it will create an even more dystopian future.  

While putting great swathes of the population on UBI might sound great initially, especially if you are currently working in a ‘Bullshit Job’ as described by David Graeber and discussed in my last blog post, there are several major drawbacks that I can see immediately.

The first is that, for most people, going to work gives their lives meaning, especially if you are public-facing or in a caregiving job, The very act of getting up to go to work starts a day off right for many people.  Going to work gives their days, weeks, months a structure, without which their lives will not work as well at all.

The UBI payments will also come with a great long list of conditions, many of which will be initially unacceptable but will, out of desperation, be accepted by many eventually.  Think China’s social credit system, enforced with15 Minute Cities along with regular ‘medical’ interventions designed to further cull the expensive herd. 

Also, it’s pretty obvious that, in the event of a financial or currency collapse, UBI will be one of the first things to go.

Assuming that financial collapse does not happen, and the various Governments are able to pay UBI by continuing to borrow from the Central Banks ad infinitum, these ever-increasing loans (plus compounding interest) will have to be paid back by future taxpayers… 

Hold on, there won’t be any taxpayers!  

Even if they make UBI taxable income (which seems to defeat the object!) the amount raised will never be enough to pay for more and more UBI.  Even if the native populations of most Western countries are shrinking fast, leading to unfettered immigration to prop up the GDP, it still won’t be enough to cover the UBI of future generations.  

I’m sure the 'elites' (aka parasite class) won’t want to be taxed heavily to pay for UBI for the poverty-stricken plebs!

However, it’s not all doom and gloom!

Many people are making plans now to provide for their future in the event of their job being swallowed up by a teenager with a clever set of AI prompts.

Some are moving to the country and growing food but some, and I suspect this is a bigger number, are setting up side hustles to turn into full-time income in the future.

However, in order to be successful as a freelancer, solopreneur or small business owner, you have to learn some basic principles pretty damn quick.

The first of which is that you need to think like an entrepreneur, rather than an employee and that can be tough initially.  It won’t come naturally but it can be learned.

Becoming an entrepreneur and especially becoming ‘A Better Entrepreneur’ is not a set of tactics. 

Those are two a penny, they can be found all over the internet.  Millions of books have been written on the topic of starting a business, I’ve even written one or two myself.

No, after more than twenty-five years of experience, I’ve realised that becoming an entrepreneur, then striving to become a better entrepreneur is a state of mind.

This is why I’m interviewing successful entrepreneurs, business owners and investors for my podcast to discover how they think.  I’m also interested in the psychological lessons they’ve had to learn to get where they are today.

I did this for my first successful business, The Money Gym and the interviews I go back to time and time again to recommend to people are the ‘Best Money Tips’ that those entrepreneurs were either taught or discovered themselves. These are almost more useful than the ‘how to’ tactics of how they made their first fortune, interesting though that always is.

While my new book ‘A Better Entrepreneur’ is a business memoir, after each chapter I’ve shared the lesson(s) I’ve learned along the way and, looking back, those lessons are almost always about my mindset and beliefs, rather than practicalities of running a business, although there are plenty of tips about that included.

So when I market myself informally as ‘The Entrepreneurs’ Coach’ I must always remember to talk about what people really want - the tactics, tips and secret keys - along with what they actually need.

Which is the right mindset, removal of limiting and negative beliefs, and all the other little mental gremlins that hold budding entrepreneurs back from being as awesome as they could be.

** Hilariously, the Wales UBI trial was discontinued because of cost.  The trial involved paying monthly payments of £1,600 each to a group of 635 care leavers (young people leaving the care system) so how they didn’t figure out how much that would cost in advance is beyond me. The idea was to see if the trial SAVED money in terms of social care, health care and other services but it wasn’t even continued long enough to be able to draw statistically relevant conclusions. Another waste of money.


Photo by Matt Paul Catalano on Unsplash


Tags

a better entrepeneur, ai, artificial intelligence, bullshit jobs, Business, Entrepreneurship, go to work, going to work, nicola cairncross, redundancies, redundnacy, ubi, unemployed, universal basic income


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