Gurley notes US car production requires six employees per car daily compared to projected one in China.
“That number is like at six in The US. And that's super interesting for a number of things. Like, if you wanna bring the jobs back”
Gurley warns bringing manufacturing jobs back may be futile as automation eliminates those positions.
“Like, if you wanna bring the jobs back there by the time you get the jobs back, there may not be any jobs. Like like, at one Because of automation.”
Gurley reports Xiaomi factory produces thousand cars daily with 2,000 employees versus six per car in US.
“The factory makes a thousand cars a day with 2,000 employees. It was highly automated, like really highly automated.”
Gurley says Xiaomi uses one-third the employees per car; predicts one-sixth in ten years.
“The Xiaomi factory was a third, based on some numbers I was able to acquire, a third the number of employees per car output.”
Gurley predicts reshored manufacturing will bring hundreds of thousands of jobs, not millions, due to automation.
“And so you could calculate the total number of jobs you'd be bringing back if you brought back all this car production and it'd be hundreds of thousands. It's not millions and millions of jobs.”
Gurley notes more bank tellers exist today than forty years ago despite ATMs.
“There's still people working in banks today despite the fact that the ATM There've been studies that say there's more bank tellers today than there were like forty years ago.”