'Big Short' investor says white-collar jobs bubble is 'bursting'
Really solid reasoning and we should listen to Burry.<p>WFH will reduce middle management and "prestige" employees as more efficient workflows evolve from the old "filing cabinets and typewriters" methods that some companies are still using to this day.<p>Automation is coming, and it is definitely coming for the white collar workers who act as human CRUD apps.<p>The ability to collate, search, and analyze data used to require labor power, it does not anymore.<p>I watch my partner's experience in accounting and the difference are stark.<p>There are many many bs steps in accounting with paper that disappear when digital tools are used.<p>Having physical pieces of paper as a fungible business tool is still something used by a lot of firms but they are simply behind the times, there are relatively simple software solutions for most paperwork needs and this reduces labor power required.<p>"We've always done it this way" is an excuse for firms that will fall behind other digitally empowered firms.<p>What does this mean for investors? Don't invest in companies that insist on using filing cabinets.