Imagine if the Renaissance, the collapse of Rome, and the industrial revolution all happened at the same time. I think that's where we're headed on the timeline

Also the devaluation of human labor will be akin to the automobile replacing horses

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Well, a lot of them were work horses, and their owners decided that the best way for them to provide value was by becoming pet food. There was a bit of a horse holocaust :/

But the displaced horses didn't have to "earn a living" like the humans do...