Valuetainment - March 26, 2026


“A SCARY Time For Jobs” - Job Market COLLAPSES As Pay Cuts Surge & AI Replaces Workers

Hosted by
Patrick Bet-David
Mentioned
Claude Michelle Pfeiffer Taylor Sheridan Revealio Labs Kurt Russell Cigar Lounge Dave Ramsey Jack Dorsey Jake Tapper Propaganda Humberto Jubilee Madison Brandon Justin Meta
Chokepoint Crisis： Hormuz is Only the Beginning “You’re Killing Generational Wealth” - High Tax States PUSH Families & Businesses OUT

Episode Stats


Length

17 minutes

Words per minute

198.76

Word count

3,420

Sentence count

194

Harmful content

Misogyny

1

sentences flagged

Hate speech

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, Humberto and Rob talk about the current state of the job market and how technology is changing the way we work. They talk about how much it's going to take to keep up with the pace of change, and what it means for the future.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
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00:01:00.000 Go into this. Let me tell you where I want to go with this, because you almost went there, but you didn't go there.
00:01:06.420 That's job market right now. So I'll read a couple of the headlines and see where it's going.
00:01:11.400 Business Insider, how tech broke the job market. All right.
00:01:15.640 Business Insider yesterday. Employees are taking pay cuts in huge numbers.
00:01:22.960 Dave Ramsey warns young hopefuls, locked out of housing market, corporate America screwed you.
00:01:29.160 So these messages are coming left and right, right?
00:01:31.940 What should I be doing?
00:01:33.420 And I think, Rob, let's go with the one of employees are taking pay cuts in huge numbers.
00:01:38.340 Let me read this to you and kind of go through it.
00:01:39.820 Because when you're seeing a market, Facebook's claiming they're going to let go of 20% from 78,000 to losing, what, 15,800 people.
00:01:47.880 These are $370,000 a year jobs, high-paying jobs.
00:01:51.400 Where's that job going to?
00:01:52.820 Is this the conversations of Claude?
00:01:55.020 Hey, we can do the job of this many people.
00:01:56.860 I don't need to hire this many people anymore.
00:01:58.340 And, you know, Jack Dorsey's tweet of six weeks ago, he just opened up and said, this is what I'm going through.
00:02:03.780 What do you want me to do?
00:02:04.580 AI developers.
00:02:05.740 Yes, AI developers.
00:02:07.120 Now you've got developers that are coming in that are as good of a developer.
00:02:09.660 You may be a full stack, but a lot of them behind closed doors are just kind of using Claude and others to help them.
00:02:15.220 They're using different language learning models, so they're not even doing what they learn how to do.
00:02:19.380 They're relying on it because they don't even know they're replacing themselves sometimes on the way they're working.
00:02:24.320 It's a very interesting climate right now, but let me read the story to you, and I'm going to come to you guys.
00:02:28.200 So, employees taking pay cuts in huge numbers.
00:02:33.600 What is this?
00:02:34.820 Yesterday when we were going through the story,
00:02:37.360 Humberto kept saying, can we please not talk about the story?
00:02:40.540 And I said, look, you brought the story up, so we got to talk about it.
00:02:43.740 So, since losing his job in 2023, Scott has applied to 1,600 jobs,
00:02:50.040 completed 78 interviews, and depleted his savings just to stay afloat.
00:02:55.000 This guy reminds me of the Jubilee guy, but they're different guys.
00:02:58.220 The constant rejection has become so unbearable that he went on antidepressants.
00:03:03.140 Now, remember, this is Business Insider, so it's a little bit of a woke type of a thing.
00:03:07.240 So as you're reading this, please brace for impact.
00:03:10.220 There's emotion.
00:03:10.880 That's probably the person that wrote this went to a school that's more of a left-leaning journalistic school.
00:03:17.260 So, Rob, can we find out who wrote this article?
00:03:19.040 I actually want to know who the author of this article is.
00:03:21.620 So when a recruiter from a staffing company called with a job offer last December,
00:03:25.520 He hung up, walked upstairs, told his wife the news, and cried.
00:03:29.500 It finally happened.
00:03:30.660 He remembers thinking.
00:03:31.820 The triumph through, though bittersweet, the position was a six-month contract as a technician,
00:03:37.940 two steps down from his previous role as a senior manager.
00:03:41.360 He'd have no guarantee of work once the contract ends,
00:03:44.160 and he'd be earning only half what he made before.
00:03:46.840 Accepting this is going to set my career back five years, he told me.
00:03:50.980 I know I'm really good.
00:03:52.180 I want a chance to prove myself.
00:03:54.020 We've all heard about how grueling the white-collar job search has become,
00:03:57.640 but the market is so tough right now that even the people lending jobs
00:04:02.180 often aren't the success stories they appear to be.
00:04:05.660 Revealio Labs, an analytic provider, recently looked at the data it collects
00:04:08.980 from across the Internet and found that an alarming share of people
00:04:11.680 are settling for roles that pay less than the ones they had before.
00:04:16.260 Among all white-collar workers who changed jobs at the end of last year,
00:04:20.100 40% of them took salary cuts of more than 10%.
00:04:24.140 Reveal Your Labs analysis showed that's the highest share in at least a decade.
00:04:29.180 The share of professionals getting similarly large raises is also at its lowest level.
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00:05:03.840 Well, guess what?
00:05:05.860 We have now come to the other side of the supply chain, right?
00:05:09.720 This is, to me, this is supply and demand.
00:05:13.480 Now, call it AI, call it adjustments, call it, say, CEOs are using AI and AI washing to justify right-sizing.
00:05:22.200 By the way, Meta came out.
00:05:24.860 Remember I called them out, Pat, and I said that some of those job layoffs were from the metaverse. 0.97
00:05:29.720 Remember this large, large hole that Facebook dug when they rebranded Meta started pouring billions and billions of dollars in,
00:05:37.440 and analysts were saying, just how big is that hole for the metaverse you keep pouring billions of dollars into?
00:05:42.620 Well, guess what?
00:05:43.480 They came out and said, well, yeah, some of these layoffs this week, yeah, there's a good number of them that are metaverse.
00:05:50.820 Then he came out and said, how about 1,500?
00:05:53.100 And then there were Reddit responses from people that claimed to be inside Facebook that said, yeah, buddy, more like 4,500 to 6,000 of them are related to the metaverse.
00:06:03.720 So there's AI washing going on on the layoffs.
00:06:06.920 What am I getting to?
00:06:08.400 Well, there is a supply difference happening.
00:06:11.780 In that article, it also provided statistics that the number of large percent raises are down.
00:06:19.200 Oh, that means people aren't having to give raises to keep people. 0.78
00:06:23.660 Remember, you had to pay the bribe during COVID or lose your best engineer who said, I'm walking across the street.
00:06:28.640 I work from home and I can have my dog on my lap and all these things I can do.
00:06:32.640 Well, the supply has changed.
00:06:35.280 And right now there's fewer job openings.
00:06:37.420 There's people looking for them.
00:06:38.960 And now you have a supply issue.
00:06:40.620 And guess what happens?
00:06:41.780 price goes down when supply goes up. And I think that's what's happening now. And it's also
00:06:46.860 happening on a regional basis. Now, is some of it AI? Maybe. Is some of it that the economy is
00:06:53.820 taking a pulse right now? You're looking at the number of jobs that were being made. It's basically
00:06:59.420 flat for four months. Even if you go back and you say, oh, the 92,000 job losses, they're going to
00:07:04.780 revise that down. Yeah, okay. Go back and look at all those. Let's say we revise it. It basically
00:07:09.500 says flat it doesn't say that we lost half a million jobs and there's a recession and all
00:07:13.400 it says it's basically flat yeah certainly it's much more acute in the tech sector of course
00:07:17.740 because they have that now could that branch out it potentially could but if you look at the numbers
00:07:22.320 from ADP and you look at the job stayers and job switchers while the numbers have certainly come
00:07:28.000 down on the switchers it's still a premium they're still at about roughly six and a half percent year
00:07:32.520 over year versus roughly four and a half percent year over year on the job stayers so there's still
00:07:36.480 some premium. So I think in the tech sector, this is very acute, but there are probably other sectors
00:07:42.400 where they are still relatively stable. Brandon? Yeah, I mean, the situation in 2021, 2022 was
00:07:50.160 a lot of land. I mean, anybody reasonable should have thought that that was unsustainable. We just
00:07:55.840 had a ton of money pouring into the economy. We had companies with 0% interest rates taking out
00:08:01.060 loans, so they were able to pay a ton of money like that. So that's why that craziness was
00:08:04.620 happening. But while I think people that are around my age in this ballpark are in a tougher
00:08:09.620 situation than historically speaking, I think it's still entirely feasible to get whatever you want
00:08:15.000 out of life if you're, you know, make sure you're exceptional in some way or go the extra mile in
00:08:19.740 other ways. But if you do what everybody else does, you're going to get what everybody else
00:08:22.740 gets. So this guy applying to 1600 jobs on LinkedIn or whatever, I mean, yeah, like you're
00:08:28.680 blending in with everybody else. I mean, like, for example, when I came here, I took like all
00:08:33.640 these crazy drastic measures that nobody else would have done i was like contacting every single
00:08:37.760 person that worked at the company i was um like mailing stuff here like uh all these very creative
00:08:43.040 the way you got the job here yeah yeah so i mean i i think that that's what how people have to think
00:08:47.480 i agree i agree and by the way look what happened you got one job then another job then now you're
00:08:51.460 running it on the consulting side which is a complete different thing and your background
00:08:55.460 was what a master's in national security and a bachelor's in national security right but you you
00:09:00.940 You had the drive to go get it done.
00:09:03.460 This is why sometimes when I hear stories like this, when, hey, here's what this person's going through,
00:09:08.540 and here's how long it's taking to do this, and here's how long it's taking to do that.
00:09:13.240 If the people that are in this mindset that you can't go get,
00:09:18.680 sometimes you have to go and see what the market wants to pay you today.
00:09:21.880 Sometimes your market price changes.
00:09:23.840 Some people come in like, let me tell you, do you know I used to be with CNN or Fox or MSNBC,
00:09:29.040 and I'm going to start a podcast, and I want you to pay me $10 million,
00:09:32.400 five-year contract.
00:09:33.540 First of all, have you ever done a podcast?
00:09:35.500 No.
00:09:36.080 You think your fame is going to translate from CNN to just starting a podcast?
00:09:41.040 Didn't Jake Tapper just recently on CNN, was he doing a show,
00:09:44.040 and they're trying to do it on the podcast set because CNN is starting to realize
00:09:47.540 what's going on.
00:09:48.820 This is him actually doing his – this is really his new set.
00:09:51.600 Wow.
00:09:52.160 And, Rob, this isn't a podcast, right?
00:09:54.420 No, this is the league.
00:09:54.840 This is actual CNN cable TV.
00:09:57.180 can you play this for the first 30 seconds so you're probably wondering what's going on why
00:10:03.420 we're in my office for the first hour of the lead today so it's an experiment this is my actual desk
00:10:09.500 where i do my actual work not the desk in the studio and we thought we would bring you into
00:10:15.000 the space where me and my team do our actual journalism and plan the show every day so here
00:10:19.200 we are giving it a shot you might also be wondering about the decor the posters and the
00:10:24.920 kerchiefs and such on my wall well the theme is these are all losing presidential campaigns
00:10:29.600 and this hobby started 26 years ago after I covered my very first presidential campaign in
00:10:34.520 the year 2000 you can pause it so you know a lot of times people are like well I want to go from
00:10:38.620 there to this and then you look at ranking for some podcasts are like how is that guy beating
00:10:43.180 that guy how are amateurs beating professionals the market is going to tell you exactly how they
00:10:51.360 feel like I'll give you an idea yesterday we're having a conversation I think Justin's in the
00:10:55.440 room could have been yesterday could have been two days ago Justin remembered this and the
00:10:58.900 conversation was hey what do we want to do with the chat I said what do you mean he said man the
00:11:05.080 chat says this the chat says that the chat says this what do we do with the checks I know Tom
00:11:09.760 reads every one of the chats that comes out right he's going through right now as we say
00:11:12.720 I do not look what do you do with the chat right what do you look at the chat
00:11:16.400 you know why don't we shut down the chat why man that's brutal sometimes i said no you sure
00:11:24.160 absolutely why not let them rip why that's the difference between mainstream media and
00:11:30.540 independent podcasters you can you and i cannot watch you know the news on tv and see what
00:11:36.260 listeners are actually saying you just have to accept the fact that that's what the messaging
00:11:40.360 is then you read the commentary and by the way i'll go and i'll look at instagram or x
00:11:45.740 or YouTube, and I'll see comment sections.
00:11:48.200 And this is the part that's a very important skill set
00:11:51.700 that people have to pick up nowadays.
00:11:54.420 So yesterday there was a post made, and I watched a video,
00:11:58.260 and I went down, and I looked at the first account I clicked on.
00:12:01.820 Follows 3,000 people, has zero followers.
00:12:05.400 Follows 992 people, has 17 followers.
00:12:09.320 So I said, you're a bot, you're a bot, you're a bot, this is real.
00:12:13.360 You're a bot, you're a bot, you're a bot, you're a bot, you're a bot.
00:12:16.460 This is real.
00:12:17.340 That effort has to be on you.
00:12:19.520 And on top of that, here's the other part that's happening right now,
00:12:22.580 which is a beautiful thing because, you know, you have to know propaganda.
00:12:27.280 Like this is the greatest season to be in a propaganda business.
00:12:33.120 If you're an enemy, if you want to divide a nation,
00:12:36.020 if you want to divide a political party, if you want to divide a family,
00:12:38.980 if you want to divide a team, if you want to divide a state,
00:12:42.320 If you want to divide anything today, the greatest propaganda weapon ever has been handed to you that even the amateur, the guy that wrote the book, Propaganda, will look at it and say, my God, we can really destroy some great states today because of the propaganda tool that we have, right?
00:12:59.980 And you'll see all these videos of, I remember one time one guy says, Pat, one of our clients was a previous presidential candidate that got up to 19%.
00:13:06.920 I won't say his name.
00:13:08.020 He said he was one of our big clients.
00:13:09.680 I said, what do you mean he was one of our big clients?
00:13:11.240 He says, come in the room.
00:13:12.340 I go into the room.
00:13:13.280 I'm not even kidding with you.
00:13:14.600 Thousands of phones who are all sending tweets, who are all sending comments, who are all.
00:13:21.060 I said, so what do you do?
00:13:22.280 He says, we can take anybody and make the market believe they are trending more than anything else.
00:13:28.520 And the back end, like where the Internet is coming from, they're able to link it to different places.
00:13:33.260 So it doesn't show like it's all from one location coming.
00:13:35.960 so it doesn't even trigger an X or a Facebook or the old Twitter or YouTube
00:13:41.200 to be able to read this.
00:13:42.460 Guess what the market's going to say?
00:13:44.340 We want the chat.
00:13:45.620 We leave the chat.
00:13:46.680 A lot of people don't like to do it.
00:13:47.940 I love it.
00:13:48.800 I love for the market to go through it and filter each other out
00:13:51.580 because you've got to be almost, what's the word, Tom?
00:13:55.460 You've got to be almost, there's a word for it where when I was on the podcast
00:14:01.100 with Joe and Joe and I were talking about comments and Joe says,
00:14:03.840 But, Pat, you can't compare us because we're used to comments.
00:14:07.960 We're used to what's going on.
00:14:08.860 The average person is not, right?
00:14:10.700 I love that the market is speaking to each other to see what's going to be happening.
00:14:14.720 The market right now when they're talking about jobs, people are saying it's a scary time for jobs.
00:14:19.980 Forget about the article we're reading.
00:14:21.820 The market is saying, Pat, I'm afraid, I had 22 students here two weeks ago.
00:14:26.180 Top ambassadors of this great school, 4.85 GPA, getting accepted into big schools.
00:14:32.200 We're talking about schools like, you know, Ivy League and some of these others.
00:14:37.980 And I'm talking to these guys.
00:14:39.620 And we're talking about career planning, what they do next.
00:14:42.320 What should we do?
00:14:43.020 How do we reposition ourselves?
00:14:44.520 This is not a time to go into.
00:14:46.460 You have to find a way to compete against everybody else.
00:14:49.180 51% of you consume the content here on the podcast who have not subscribed.
00:14:54.960 We'd like to take PBD Podcasts to 5 million subscribers.
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00:14:59.880 We're going to have something we'll announce here soon.
00:15:01.940 And we'd like to take Valuetainment to 10 million subscribers.
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00:15:15.940 And last but not least, if you're a full-stack developer, if you're a good editor,
00:15:20.740 if you're somebody with an MBA, if you're somebody that's been in the consulting side,
00:15:25.060 we're hiring aggressively right now.
00:15:27.840 We just got the floor plan for how high we can go here.
00:15:32.140 We're planning on building a building,
00:15:34.220 and we got some good news on how high we can go on the building
00:15:36.580 that we're going to build here to house a couple thousand employees.
00:15:39.480 We're hiring aggressively.
00:15:40.840 Rob, if you want to play the clip for some people that just think this is a podcast,
00:15:43.560 there's a lot of stuff that's going on here.
00:15:45.140 Go for it and play this clip.
00:15:46.660 Many times when people think about value attainment,
00:15:48.560 all they think about is a podcast, but it's a lot more than that.
00:15:51.360 It's nine companies working together on an 11-acre campus.
00:15:54.980 If I was to give you a virtual tour here, you'll see the HR department hiring, talent acquisition.
00:16:00.240 We have full-stack developers that are working on Manac and hire metrics.
00:16:03.560 We have a full-fledged events team that puts together events with thousands of people.
00:16:07.580 We have a merch department designing the latest product.
00:16:10.260 We just launched EFLB Shoes, made in Italy.
00:16:12.900 We have a marketing department.
00:16:14.500 Then if you go to the complete opposite side of the building, 50, 60 people making calls, working for Bed David Consulting, sales, setters.
00:16:21.080 And then on the complete opposite side of the campus, there's a full-on production company with editors, shooters, creating content, doing podcasts.
00:16:28.080 Then you can drive down a couple miles and go to our private boardroom, Cigar Lounge, with members only.
00:16:32.880 Regardless of what it is, working at Valuetainment, every day is a surprise.
00:16:37.020 You could be walking into work and right next to you is a governor, is a billionaire, is an athlete.
00:16:42.040 We are hiring aggressively, but Valuetainment is for everybody.
00:16:45.420 For the right person, this could be the last company you ever work for.
00:16:50.220 So, if you're watching this and you want to learn more, go to vt.com forward slash careers and apply now.
00:16:58.180 Again, go to vt.com careers and if you know somebody that's looking for a job, fully qualified or has a job but they're not happy, fully talented, share this video with them as well.
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