uk_grenada

I have the feeling not everyone understood the Soylent green comment, but I won’t spoil it - watch the film, it’s quite good, so long as you accept you’ll never be able to listen to the pastoral symphony in the same way again...

NB I really also recommend the film Moon. Great story...

Beoz

Interesting article on many fronts. "They" are still predicting people to flock to cities despite increases in automation which really should mean people can live anywhere.

https://www.domain.com.au/news/sydneys-harbour-and-fun-vibe-not-enough-to-stay-competitive-globally-experts-20171031-gzbfvc/

I guess humans can't get enough of being around other humans for work and play.

As I keep saying, transport is the key. Rail (medium speed for nearby satellite cities) and metro for the urban stuff is the only option. Tunnels tunnels tunnels- jump on board, buy up your shares in tunnel bore machines. (Garry how you doing on those Microsoft shares I tipped you off about 4 years ago?)

Sydney during the state labor government rule was severely neglected. Bob Carr and his clowns couldn't get it right. Thankfully now the Libs are pouring money into getting this right. Rail and Roads everywhere. Onwards and upwards.

GarryP

So in other words, people don't want to go to Sydney because of high housing prices, poor public transport, and poor internet? All of which are characteristics of the coalition's neglect and point up why people are moving away from Sydney ?

What was your point again?

So you are investing in Elon then, are you?

High speed rail (not medium) has long been what I have said needs to happen, such that working and living can be distributed, rather than centralised.

Err, you do realise you are making no sense, don't you? Your points don't hang together...

Now personally I think roads ARE import, since I think automation and robotaxis are going to make a mess of local public transport in the foreseeable - but definitely not toll roads. They really aren't going to work with autonomous vehicles and they should be getting rid. However the mismanagement by the coalition means they are expanding them. Oops.

None of the parties really have a sniff of a strategic plan or vision. You can already see the shape of the future - greater distribution, the death of distance but local barriers, autonomous services not humans, renewable power not coal, bifurcation of the population into have and have nots. But nobody is taking any of that into account in planning. The primary problem is that politicians are not fit for purpose - run by ideology rather than reality. That's where the logjam is going to break methinks.

scrubbedexpat098

I see we've got automated leftybots and rightybots now, should save you guys some time

GarryP

Nah, Beoz loves throwing in there his far right bias - the market can do no wrong, everything will self correct, etc. All I do is point his nose towards the bull and suggest that .... maybe .... actually planning and doing something about it is the smart move.

That's not left wing, that's just plain sense.

Beoz

Yes you don't quite understand do you. Let me recap. Sydney was neglected by former Labor govts running the show in thr naughties. No investment in transportation. Today the Libs are building the stuff. In case you haven't caught up, its being built, under construction, not yet completed. Hence the authors focus on today.

In case you still haven't caught up and you've been reading too much of the Melbourne bluff, Sydney is growing, if fact its one of the fastest growing places in the country. People leaving? Where?

How those Microsoft shares doing? Or did you miss the boat? Not too late, its still going. Tesla is worth a look in a few years. Its all fantasy and vapourware at present. And why invest in that when you have Microsoft ....
Bad business again Garry.

Beoz

Garry. I think it would be a safe bet to still buy some Microsoft shares. You may not make the type of coin I made when I recommended it back then but there's stuff to be made. Jump on board.

https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2017/10/28/microsoft-azure-is-growing-faster-than-aws-backed-by-big-brands.html

GarryP

Oh, I seem to remember someone saying that automation wasn't going to cut the number of people in banking. "They will be pulling in new people to do new jobs" was the refrain, "they will be expanding into new customer relationship roles."

Today :

NAB rebounds with $5.3b profit, announces 6,000 job losses - ABC News (Australian Broadcasting Corporation)

So the answer is in, less people in total.

Beoz

Garry. I think it would be a safe bet to still buy some Microsoft shares. You may not make the type of coin I made when I recommended it back then but there's stuff to be made. Jump on board.

https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2017/10/28/microsoft-azure-is-growing-faster-than-aws-backed-by-big-brands.html

Beoz

2000 new digital today. That will multiply very quickly tomorrow.

You are so one dimensional sometimes.

GarryP

I'm not the one ignoring the net loss in people over the next three years...

Which is what I said would happen, and you said would not.

PS not sure why you are still spruiking mickeysoft, but you would have done better to have google shares over the last five years, and with a better prospect over the next five too.

Shard

Retail banking (and financial services) in particular is fertile automation territory. It's essentially a commodity product/service, and it's not one most people have much interest and attachment too. In due course, banking will be done by having a chat with an Alexa type assistant, much as someone might discuss finances with financially capable spouse.

The NAB story is a perfect example of how technology will erode certain mid level jobs. 6000 to 2000, and in due course those 2000 will have and halve again.

GarryP

It's actually before the real wave hits

4000 from 35000 is 11.5%, but as they get automation that deals with more and more of the general banking stuff, the lower the total number will go.

This article from last year said that the banks had much scope to reduce costs by reducing staff, and would need to to keep profits growth in line with expectations

Big four banks must cut staff costs as revenue growth slows: Macquarie | afr.com

However, that article said NAB "could reduce overall staff numbers by 4 per cent"- and they just announced over 10%. So it sounds the cuts are going to be bigger than expected ...

Shard

It's gotta be 90% going forward a decade. I think there will be a tipping point once fully automated banking systems are deployed. It's a bit like smartphones, ten years ago they were considered a bit gimmicky, and now few can survive without one. What's a bit more concerning is that governments seem to have their head in the clouds about the potential impact of automation.

ozzieeagle

Do you guys reckon block chain shares are worth buying..... . The Aussie company had a massive rise inititally and has stayed static more or less for about a year now.