Is AI going to take your job?

Dear Reader,

This is Dylan Jovine with Behind the Markets.

Happy Wednesday. Today is Wednesday, May 6th.

It is very rare that I offer any praise to the government.

I've never walked out of the DMV thinking these people should run more of my life.

But once in a while, you have to give credit where credit is due.

Trump's AI Review Committee

President Trump is putting together a committee to get a first look at new AI models before they are released to the public.

And I think it's the right call.

When you poll Americans right now, most of them express more anxiety about AI than excitement.

Will it take my job?

Will it drive up my electricity bill?

My daughter is 17 and she asked me recently — are there going to be any jobs left?

I told her: AI isn't going to take the jobs, but people who know AI will take jobs from people who don't.

Get hip to this. Fast.

Why This Technology Is Different From Every Other

Here is what makes AI unlike anything in the history of technology.

Think about the Gilded Age — railroads, steel, new industries emerging across the country.

Think about the Dot-Com boom — programmers building the next thing, one upgrade cycle at a time.

Every major technology in history has improved because humans improved it.

You ship a product, you gather feedback, you release the next version a year later.

That is how innovation has always worked.

AI is different.

These models are writing their own code, fixing their own software, and improving themselves.

This is the first time in human history that we have had a product that can improve itself.

That changes everything about how we think about risk.

It’s also where the opportunity lies though.

The first wave of AI was about teaching machines to think and speak.

The next wave is about putting those brains into physical bodies — robots that can work, move, and operate in the real world.

I call it “Embodied Intelligence” and I believe it could be the biggest wealth-creating opportunity of the next decade.

What Anthropic's Mythos Model Revealed

We talked about this a few weeks ago, but it bears repeating in this context.

Anthropic gave the Trump administration and a group of major banks a sneak peek at their new Mythos model before releasing it.

What the model did in that preview was extraordinary.

It went into the code of major financial institutions — JP Morgan, Bank of America — and exposed security flaws a hacker could use to take down those systems.

Quickly.

These models have crossed some kind of threshold where they are genuinely capable of threatening national security.

That is exactly why a first look — a review before public release — makes sense.

The Balance to Strike

Here is where it gets tricky.

You don't want to create an FDA for AI.

A three-phase regulatory review process would entrench the dominant companies, raise the cost of entry so high that nobody else could compete, and slow down American innovation at exactly the moment China is pushing hard to catch up.

The goal should be a quick first look — get the Pentagon and the Treasury in the room, understand what the model can do, identify the national security implications — and then push it out as fast as possible.

A light touch, not a chokehold.

The Jobs Question

There is also a real human dimension to this that governments are starting to grapple with.

If one AI model can replace 2 million software programmers overnight, do you introduce it all at once?

Or do you phase it in so people have time to adapt?

A Chinese court actually ruled last week that companies cannot fire employees simply to replace them with AI.

In the eighties and nineties, we told coal miners to go learn software.

Now we might be telling software programmers to go learn something else entirely.

That is a conversation this country needs to have.

We have let a very powerful genie out of the bottle.

The debate now is how to live with it — without either over-regulating it into uselessness or letting it run completely unchecked.

I'd genuinely love to know your thoughts on this one.

Anyway, that's all I have.

Have a wonderful day.

“The Buck Stops Here,”