The haves and have nots of the AI gold rush

Deedy Das, a partner at Menlo Ventures, observes a significant — and concerning — disparity emerging from the current AI boom. He describes San Francisco as "pretty frenetic right now" and notes that "the divide in outcomes is the worst I’ve ever seen."

Das estimates that approximately 10,000 individuals, including founders and employees at leading AI companies such as OpenAI, Anthropic, and Nvidia, have accumulated "retirement wealth of well above $20M." Meanwhile, countless others in well-paying jobs fear they may never reach such financial security, even with lifelong careers.

Adding to this unease, layoffs are prevalent, and many software engineers express concern that their skills are becoming obsolete. This situation fosters confusion about viable career paths and contributes to a "deep malaise about work (and its future)."

These observations have sparked debate. Some critics dismiss the concerns, suggesting that those in the tech industry are "incredibly fortunate and can simply make a choice to be happy." However, others highlight a more cynical perspective: the same technology that offers lottery-like wealth to a few is simultaneously eroding the job security of many.