David Sacks Rejects AI 'Job Apocalypse' Warnings, Endorses Goldman Sachs CEO's Optimistic Outlook

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On Monday, David Sacks endorsed David Solomon's argument that concerns over artificial intelligence (AI) triggering widespread unemployment are exaggerated. Sacks signaled agreement with Solomon's New...

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One camp sees a ‘job apocalypse' and mass unemployment ahead; the other sees a great leap forward for society,\" he wrote, adding, \"Put me in the second camp — with a few caveats.\"\nSolomon cited Goldman Sachs economists estimating that AI could automate roughly 25% of current work hours over the next decade, particularly in white-collar roles such as banking, law, accounting and customer service.\nHowever, he noted that automation does not necessarily equal unemployment, arguing that technological shifts typically reallocate labor rather than eliminate it.\nIn the essay, Solomon pointed to historical cycles of disruption, from electrification to the internet, noting that job creation has consistently outpaced job destruction in the long run.\n\"While A.I. eliminates jobs in some sectors, it may lead to job growth in others,\" he wrote, citing data center construction and emerging AI-related roles as examples of new employment opportunities.\nSolomon acknowledged that workers will face disruption and urged coordinated public-private action, including retraining programs and investments in vocational education.\n\"If A.I. does indeed destroy jobs… then public policy must respond,\" he wrote, stressing the need for reskilling initiatives and workforce adaptation.\nDespite concerns, Solomon concluded that the U.S. labor market has historically adapted to technological change, suggesting AI will follow a similar trajectory of disruption followed by expansion.\nIn April, it was reported that Goldman Sachs found that an analysis of four decades of labor market data indicates workers displaced by technological advances frequently suffer lasting financial losses.\nThe U.S. Bureau of Labor Statistics reported that nonfarm payrolls rose by 115,000 in April 2026, while the unemployment rate remained unchanged at 4.3%.\nMeanwhile, average hourly earnings for private-sector nonfarm workers increased 0.2% to $37.41.\nAt the same time, the tech industry has experienced a surge in layoffs as companies increase spending on AI infrastructure, with more than 81,000 jobs eliminated in the first quarter of 2026.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2638941315","isCrawlerRequest":true}