Back in June, Amazon introduced one of the world’s coolest innovations of the past decade: A full-blown, 25,000-square-foot Amazon Fresh cashier-less grocery store.
The idea of the store is pretty simple. You walk in. You grab items. You put them in your cart. And you leave. No cashier or checkout process.
How does Amazon accomplish this? Next-gen technology.
In short, Amazon leverages a series of scanners and cameras to identify who you are immediately upon entry into the store, and matches you to your Amazon Prime account. Then, Amazon uses thousands of sensors to account for which products you take off shelves and put into your cart. Upon exit of the store, Amazon charges those items to your Amazon Prime account.
It’s that easy.
Make no mistake. This “Just Walk Out” method of shopping is the future. Soon enough, Amazon’s tech will become a global retail ubiquity. Soon enough, there won’t be any cashiers anymore.
On one hand, that’s great. It means faster, easier, and likely cheaper shopping. On the other hand, though, it means tremendous job loss. According to the U.S. Bureau of Labor Statistics, there are about 3.4 million cashiers in the country. Almost all of them could be out of a job by 2030.
And they aren’t alone.
How the Robotics Revolution Will Change Everything
My buddy is the Head of Mechanical Engineering over at Miso Robotics, a company designing a burger-flipping robot called Flippy. Long term, the vision is for Flippy to replace fast food chefs all across the country. If they’re successful, that’s about 500,000 Americans without a job by 2030.
Meanwhile, you have iRobot making all these household robots to vacuum, mop, and mow your lawn for you. If they keep innovating, eventually, those robots will antiquate house cleaners and landscapers across the country. That’s a few hundred thousand jobs, too.
How about those QR codes at restaurants? You can order now without needing a waiter, by simply scanning a QR code and ordering via your mobile phone. The plus side for consumers? No tip. If those become ubiquitous, you’re talking 2 million waiters and waitresses without a job.
And don’t even get me started on self-driving…
At scale, Uber and Lyft will use autonomous ride-sharing vehicles to transport people around. DoorDash and Postmates will do the same to transport food (Domino’s is actually already testing autonomous pizza delivery in Houston). Amazon, Walmart, Target, UPS, and FedEx will all do the same for their logistics. That’s another few million folks that will be displaced by automation.
All in all, McKinsey Global Institute estimated in a 2021 report that 45 MILLION Americans – about 25% of the workforce – will lose their jobs to automation by 2030. Our independent analysis of the U.S. labor force arrived at number right around 45 million, too.
In other words, robots are going to take over the world, and along the way, a lot of us are going to lose our jobs.
While that may sound apocalyptic, it’s not – it’s actually an opportunity for you to make a lot more money than your job will ever pay you.
Because some company or series of companies has to make all those robots, and as those robots replace one-fourth of the U.S. labor force, the robot makers will unlock significant economic value. Their sales and profits are going to soar! And their shareholders are going to become very wealthy.
If you’re interested in hearing more about the Robot Takeover, it’s a subject I like to discuss with my premium subscribers…
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If it succeeds, its shareholders will become enormously wealthy, because the stock could rise by as much as 30X!
So… what do you say? You just going to lay down and let a robot take your job? Or are you going to turn the biggest disruption to the U.S. labor force in history into your biggest financial opportunity?
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
