Larry Fink, CEO of BlackRock (NYSE:BLK) — the fund manager that oversees $14 trillion in assets — in an interview with the BBC this week, said something unusual to hear from Wall Street: that American society made a mistake by idolizing careers in finance and law, while quietly looking down on people who work with their hands.
“We really put judgment on so many jobs and so many people who probably should not have gone into banking or media or law,” Fink said in a podcast episode released Wednesday.
“We need to now rebalance that approach.”
AI Is Creating Trades
Fink’s argument is mathematical. Artificial intelligence is going to hollow out demand for certain white-collar roles. What it can’t replace is the physical infrastructure needed to run itself: the data centers, the power grids, the electrical systems, he said. The people who build those things are electricians, welders, and plumbers. And right now, there aren’t enough of them.
His latest annual letter to shareholders, published …
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