"AI End-of-Day Report" author speaks out: Market panic exceeds expectations, calls for the implementation of an "AI tax" to address unemployment

On February 24th, co-author of the “2028 Global Intelligence Crisis” report, Alap Shah, publicly spoke out, admitting that the market reaction far exceeded expectations and calling on the government to tax AI to address the potential wave of large-scale unemployment. In an interview with Bloomberg Television, the Chief Investment Officer of Lotus Technology Management warned that within the next 18 months, advances in AI could lead to a 5% reduction in white-collar jobs, with the U.S. being hit hardest if no policy interventions are implemented. He predicts that service-intensive industries such as insurance and banking face greater risks. Shah stated that the government should consider taxing the incremental or unexpected gains brought by AI to offset the impact of labor displacement and protect consumer demand. He believes that the replacement of white-collar workers will create a negative feedback loop: companies lay off employees to boost profit margins, reinvest the saved funds into AI, and further cut jobs.

The “2028 Global Intelligence Crisis” is a brainstorming projection based on the scenario of “AI maintaining rapid development,” with the core view that “AI capabilities continue to surge beyond expectations, which is actually a major bearish signal.” The report hypothesizes that after two years, widespread AI adoption will replace white-collar jobs, creating an unrestrained negative feedback spiral that drains the entire economy, financial system, and housing credit system built on the premise that “people are valuable,” ultimately triggering an unstoppable collapse.

Influenced by the spread of panic emotions from the article, U.S. stocks fell sharply on Monday, with the Dow Jones Industrial Average dropping 822 points (-1.7%), the S&P 500 down 1%, and the Nasdaq Composite down 1.1%. The software sector was heavily hit, with Datadog, CrowdStrike, and Zscaler all falling more than 9%, and IBM plummeting 13%, marking its worst single-day performance since 2000. Companies such as American Express, KKR, and Blackstone, which were also mentioned in the report, experienced significant declines. Shah admitted he was surprised by the market reaction: “I initially expected a small response, but it was definitely larger than we anticipated. Considering the level of the U.S. market, this reaction isn’t too surprising. AI trading has been ongoing for three and a half years, basically on a continuous upward trend. Now everyone is fully long, and there aren’t many incremental buyers.” BlockBeats has published the full detailed translation of the “2028 Global Intelligence Crisis” on its platform, and users can click the link to read.