Payment of Productivity Linked Bonus to Non-Gaz Railway Employees for FY 2025-26: Railway Board RBE No. 84/2026
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Thursday, 15 October 2026
Payment of Productivity Linked Bonus to Non-Gaz Railway Employees for FY 2025-26: Railway Board RBE No. 84/2026
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https://www.youtube.com/watch?v=r5r4g3AL2as
1,104,478 views Sep 6, 2026 Transcript Summary
Mo Gawdat argues that AI could undermine the labor-based economic system by eliminating jobs and weakening people’s ability to earn and spend money. He describes capitalism as a system in which workers generate profit while banks create and lend money against assets, and suggests that banks—not merely wealthy borrowers—hold much of the financial power. The conversation considers universal basic income as a possible response to mass unemployment, while Gawdat warns that funding it could bring political conflict, inflation, and increased surveillance. Near the end, he turns to war and weapons, questioning whether the use of weapons can help justify requests for further military spending.
Highlights
0:00
Gawdat warns that AI may replace jobs, threatening the labor-based arrangement that supports capitalism.
1:16
He says the world as people know it has ended, introducing his central claim that major economic changes are underway.
1:36
He characterizes capitalism as “labor arbitrage”: workers are paid less than the value their work generates.
2:15
He illustrates borrowing against company equity, using Elon Musk’s loans and asset pledges as an example of how wealth can be leveraged.
3:28
Gawdat argues that the people and institutions creating loans may have more financial power than those borrowing them.
3:53
The interviewer raises universal basic income; Gawdat calls it a possible response but frames it as politically contentious.
4:42
He predicts that heavily capitalist Western economies may struggle to fund basic income through taxes or money creation.
5:51
Gawdat warns that an unsustainable income-support system could lead to greater surveillance and social control.
6:29
He introduces his book about life in the age of AI and says he uses AI as a research tool and co-author.
6:50
He begins questioning why governments provide weapons amid domestic hardship, then discusses how using weapons can support arguments for more military funding.
Chapter 1: The end of modern capitalism
0:000 secondsWe're getting into an era where artificial intelligence is going to replace all the jobs. Labor arbitrage that the capitalist uses to be able to
0:099 secondsmake money for themselves is going to to to disappear. So the very basic uh rule of capitalism is going to end because
0:1616 secondsyou and I will not have jobs. Then you and I will not be able to uh to make money. Then you and I will not have the
0:2424 secondseconomic purchasing power to uh to pay back that money if we borrow it. So for the next 10 to 12 years, I think the world is going to be very unfamiliar.
0:3535 secondsThat's Mogodat, former chief business officer at Google X. He's not talking about a market correction or a rough decade. He's saying the economic system
0:4444 secondsyou were born into is already finished and the next 15 years will not look like anything you recognize. Listen to the full conversation.
0:5252 secondsBut I know it's going to be difficult.
0:5454 secondsWhat worry is an a sense of uncertainty around the future. Okay? you're not really sure if it's going to be bad or
1:011 minute, 1 secondgood. That's worry. Okay. Uh I think I've passed that stage. I I have to
1:061 minute, 6 secondsadmit that uh our world is um I don't know how to say that any
1:151 minute, 15 secondsother way. Our world as we know it has ended. Okay. uh and and there is the
Chapter 2: How the financial system works
1:221 minute, 22 secondsunderlying structure of the world you and I were born in has been capitalism
1:301 minute, 30 secondsand capitalism as a system uh has been um is is a system of labor arbitrage is
1:391 minute, 39 secondsa system where you and I do a job uh the you know we get paid x uh for that job but someone else makes x plus one Okay.
1:491 minute, 49 secondsAnd the profit of plus one is the capitalist profit. Most people think that money that that capitalism drives
1:571 minute, 57 secondsthe world. No. Capitalism drives the world and makes a lot of money for the capitalists, but the ones that make the most money are the bankers.
2:072 minutes, 7 secondsMhm.
2:082 minutes, 8 secondsRight. So, so you know, for me to, so let me give you a few stages. Huh? There is someone that starts their life by
2:172 minutes, 17 secondstaking a student loan, for example, never sells a stock. Okay? He doesn't care if his companies sell products or
2:262 minutes, 26 secondsnot. He builds companies that have equity in them. And then they go he goes to a bank and says, "I need $50 billion to buy Twitter." And so the bank will
2:352 minutes, 35 secondssay, "Okay, you you're going to have to put those many millions of Tesla stocks as a collateral." Okay. Uh, so he takes
2:422 minutes, 42 secondsthe money, he buys Twitter, and then he goes to another bank and says, "I need $50 billion to invest in X." And they they go like, "Okay." And sorry, and you
2:512 minutes, 51 secondsknow, X here is something else, not X's Twitter. And they'll say, "Okay, then you're going to have to pledge your Twitter, but you know, he bought that for free, literally, from banks money.
3:043 minutes, 4 secondsYou're going to pledge your Twitter uh shares, and we'll give you more money." and so on. That's, you know, when you make when money is printed through
fractional reserve out of thin air, right? Elon Musk can make $50 billion against equity any point in time. This
3:183 minutes, 18 secondsis real money now. Okay? But that's not riches. People think that Elon Musk is the richest man in the world, right?
3:253 minutes, 25 secondsThat's by far a lie. The richest people in the world are the people that print that money that Elon and others borrow.
3:333 minutes, 33 secondsHe just explained why you feel trapped even when the economy looks fine. The real money is not in salaries or even
3:413 minutes, 41 secondsstocks. It's in the loans printed out of thin air by banks. That system is now breaking because AI removes the worker
3:493 minutes, 49 secondsfrom the equation entirely. Now listen to this.
Chapter 3: Universal basic income concerns
3:523 minutes, 52 secondsI think we could be looking at a future of universal basic income.
3:563 minutes, 56 secondsI don't so so so there is no other way discussed so far that makes any sense
4:034 minutes, 3 secondsbut the problem with universal basic income is quite interesting universal basic income is a is a fancy European or
4:124 minutes, 12 secondsAmerican way of describing communism communism yeah okay this is an ideology issue and and
4:204 minutes, 20 secondsif you're a capitalist society universal basic income is basically what Henry Kissinger used to call feeding the
4:274 minutes, 27 secondseaters. Okay, the eaters in his mind and in the capitalist mind in general are people who consume but not produce of
4:364 minutes, 36 secondscourse with a lot of control and surveillance because people who have nothing to do have a lot to think about, right? But then there will be the western societies which I think will be
4:444 minutes, 44 secondshit the most. So you ask yourself who's going to struggle and interestingly the ones that are going to struggle are the heavily capitalisiented western markets.
4:544 minutes, 54 secondsWhy? because yeah maybe at the beginning they'll go like yeah we'll give an unemployment uh pay for everyone a UB
5:025 minutes, 2 secondsUBI right uh universal basic income but then uh that universal basic income has
5:095 minutes, 9 secondsto either come from the taxes on the capitalists or it has to come from printing money which causes inflation
5:165 minutes, 16 secondswhich doesn't benefit [music] the ones that have money and so basically what ends up happening is first they'll feed everyone and then very quickly the
5:255 minutes, 25 secondscapitalists will say why are you making me pay so much taxes I want to pay less taxes and that cycle basically means
5:335 minutes, 33 secondsthat the the economy survives at the very bare minimum uh um
5:405 minutes, 40 secondsyou know giving [music] to to the to the citizen of some a place like the US or wherever and and and that cycle is very
5:485 minutes, 48 secondsunsustainable because what that very quickly means is that people who have a lot of time and unfortunately a lot of
5:565 minutes, 56 secondsguns will have to be surveiled very heavily. They'll have to be controlled very heavily. It's not an easy problem to solve for the West at all.
6:056 minutes, 5 secondsHe calls UBI communism with better branding and then he tells you what happens after it fails. The West will feed people just enough to keep them
6:136 minutes, 13 secondsquiet. Then those same people will be watched and controlled because idle hands with guns scare the people in charge. China he says will handle it
6:216 minutes, 21 secondsbecause they are not pretending to be something else. Let's continue.
Chapter 4: The true cost of military spending
6:256 minutes, 25 secondsOkay. Tell I'll tell you another interesting lie. Um so I in my current book alive I write uh about life in the age of the rise of the machines. Okay.
6:386 minutes, 38 secondsAnd uh and I I you know I write in the age of AI. So my co-author is an AI.
Okay. And I use a lot of AI for research. One of the things I was trying to understand is why there are so many
6:516 minutes, 51 secondswars in the world and why does the US give away so many weapons when you know
6:586 minutes, 58 secondsthere are more than 100 million homeless people in the US today. Okay. Uh and it just hit me that if if war is about
7:077 minutes, 7 secondsdeterrence then uh having the latest weapon is very important to deter your enemy. So
7:157 minutes, 15 secondsthat's, you know, a very expensive process just to end the life of a weapon. What's the easier process? To use it and bomb people.
7:237 minutes, 23 secondsCorrect. My goodness.
7:247 minutes, 24 secondsBomb innocent people. Okay. And when you bomb innocent people, you're running out of those weapons, but also you have a
7:327 minutes, 32 secondsvery clear case to give to the Congress that says, "We need more money. We gave this to others, [music] our friends."
7:387 minutes, 38 secondsRight? And and all of those proxy wars are incredibly necessary in the world we live in. Why? Because without a proxy
7:467 minutes, 46 secondswar, without a common enemy, you may get a civil uprising in the US because people are very upset about the kingdom.
7:537 minutes, 53 secondsThey're very upset about, you know, the the the economic conditions. They are upset about many many things. I did a I
8:008 minutesI did a study on again with with my AI on uh on on military spending uh since the Ukraine war started. So you know
8:098 minutes, 9 seconds2022 2023 uh the military spending is around $2.6 6 to2.9 trillion a year around the world. All of that is money.
8:188 minutes, 18 secondsGlobal budgets.
8:198 minutes, 19 secondsYeah. Global budgets. Now, interestingly, uh for 5% of that, just understand this. 5% of the military
8:288 minutes, 28 secondsspent uh sorry, in 2024, 2023, and 2024, 5% of that, there wouldn't be a single hungry person on the planet. It would
8:368 minutes, 36 secondsend world hunger. He used his own AI to dig into classified weapon stockpiles.
8:418 minutes, 41 secondsAnd what it found is terrifying. Not because it is secret, but because it's so simple. You cannot resell a bomb. So, you drop it on someone and then ask Congress for money to build a new one.
8:518 minutes, 51 secondsThe same budget that could end hunger and poverty is being spent to keep the cycle going. Now, listen to this.
Chapter 5: Rethinking education and AI
8:578 minutes, 57 secondsI look at the schooling system, for example, and I think it bothered me most.
9:029 minutes, 2 secondsGone. Gone. It irked me most when my kids started to go to school and I was very condescended uh growing up going to
9:109 minutes, 10 secondsschools in the UK that put me in the lowest math class that told me that I was an idiot. So I went through my entire schooling and college career thinking that I was an idiot. What what type of intelligence? That's the point.
9:219 minutes, 21 secondsThat's the whole point. Schooling system is blind because I was an ultimate math
9:289 minutes, 28 secondsgeek. Okay. But I sucked in my social skills. H and I couldn't dance for my life.
9:369 minutes, 36 secondsRight. Which kind of intelligence, you know, is emotional intelligence a type of intelligence? Is linguistic
9:439 minutes, 43 secondsintelligence a type of intelligence? Is is athletic intelligence a type of intelligence? Because school, again I am
9:529 minutes, 52 secondsreally sad to say because of the capitalists were the factory [music] that was molding
10:0010 minutesgraduates that fit in the industrial uh uh um requirement. That's a long time back when, you know, religious schools
wanted to teach you know uh a student the Bible or the Quran or whatever. And so instead of teaching one student at a
10:1810 minutes, 18 secondstime, they started to teach five students at a time. That's the technology. Okay? And at the time it was revolutionary to find ways to teach five
10:2510 minutes, 25 secondsstudents at a time when students are different. Okay? You have to mold all of them so that they become similar so that you can teach them. And then you you
10:3410 minutes, 34 secondseven advance that over the years until you get into e-learning. It's just a school with a screen. But if I want an
10:4010 minutes, 40 secondsaccurate result, I will absolutely find my calculator. [snorts] Okay. There is absolutely no need for me to memorize the ma arithmetics. There's absolutely
10:4910 minutes, 49 secondsno need for me to solve difficult algorithms of cosine and s and some you know integration or whatever. That's all on the on the scientific calculator in a
10:5810 minutes, 58 secondsminute. H and and so that's take that example and and apply it to knowledge.
11:0611 minutes, 6 secondsKnowledge is now a question away. H it's literally a question away. And so why
11:1311 minutes, 13 secondswould I put students in a in [music] a in a classroom and teach them knowledge that was discovered 20 years ago when
11:2111 minutes, 21 secondsit's going to change next year because of the fast pace of uh of progress.
11:2611 minutes, 26 secondsHe says school was built to produce factory workers, not thinkers. It sorted kids by one narrow kind of intelligence and punish the ones who didn't fit. Now
11:3511 minutes, 35 secondsthe calculator has become a full AI tutor. The real education is asking the right questions and the machine answers
11:4211 minutes, 42 secondsfaster than any teacher. Listen, humanity at large is faced with with challenges and for the first time ever,
Chapter 6: A global awakening
11:4911 minutes, 49 secondshumanity at lodges are opening their eyes and saying, "What? Did you lie to me about JFK? Did you lie to me about 9/11? Did you lie to me about the
11:5811 minutes, 58 secondsEpstein files? Did you lie to me about uh you know who who actually invested in al-Qaeda? Who actually invested in ISIS?
12:0612 minutes, 6 secondsuh who you know uh did you lie to me about who was supporting him and so on right and then suddenly the world starts
12:1512 minutes, 15 secondsto wake up and says [music] it's painful to recognize all of this but perhaps we need to do something differently perhaps
12:2212 minutes, 22 secondswe need to stop enabling AI to take the jobs of people perhaps we need to stop uh you know wasting so much money on
12:2912 minutes, 29 secondsexplosives h perhaps we need to stop electing uh uh uh you know politicians that control the
12:3712 minutes, 37 secondsworld in a country that is struggling probably more than anywhere else in the world. And you can see that you can see
12:4612 minutes, 46 secondsyou know in the US today the the the you know the number of people that align uh with the Palestinian cause more not the
12:5212 minutes, 52 secondsIsraeli cause has shifted you know now it's around 70% or or 60 60 to 70% depending on the state of Americans will
13:0113 minutes, 1 secondsay this is madness okay they support this the Palestinians right [music] to to to live and to to have a state right
13:0913 minutes, 9 secondsand and so you can easily see that the world is changing but to answer your question is, do you believe as a parent
13:1613 minutes, 16 secondsthat you have the certainty to bring a person in the world today with all of the of the of the massive changes that are happening in the world? Do you have the certainty? Are you strong enough?
13:2713 minutes, 27 secondsAre you rich enough? Are you powerful enough to be able to to to provide that child with a with a a prosperous life?
If you are, absolutely go for it. Get 20 because others shouldn't.
13:3813 minutes, 38 secondsOkay? And I and I think that's the truth of our reality. If you live in Europe today with all of the uncertainties around the economics of Europe, the
13:4613 minutes, 46 secondsimmigration, the you know the the the social issues and so on, do you feel comfortable to to to bring a child in
13:5413 minutes, 54 secondsthe world and to provide for them? If you do, go ahead. Are we in that period today that one day we will look back at
14:0114 minutes, 1 secondthat period as that shitty part that made us who we will eventually become? I do not think in the h in the modern
14:0914 minutes, 9 secondshistory of humanity since the invention of the propaganda machine humanity has ever woken up as much as it did in the last couple of years.
14:1714 minutes, 17 secondsCouple of years.
14:1814 minutes, 18 secondsYeah. That's for there's been an awakening. It's it's an enorm including me. Okay.
14:2314 minutes, 23 secondsSo I there were times if you look back at my history of podcasting there were times where I advised people not to to spend too much time watching the news,
14:3214 minutes, 32 secondsright? And I still never I never watch the news. Just understand that. But I watch deep analysis
14:4014 minutes, 40 secondson that that they claim is the news. Got it. Right. And and for the first for the very first time in my 58 years of life,
14:4814 minutes, 48 secondsI have a keen interest in understanding the underlying currents that cause humanity to be where
14:5514 minutes, 55 secondsit is today. Okay? And I am an idiot that's never watched this, you know, a single news story. But now I am fully
15:0415 minutes, 4 secondsawake. Now I'm fully awake to the industrial uh capitalist machine that I contributed to. The awakening is here, but it's not
15:1315 minutes, 13 secondscomfortable. People are finally asking whether they were lied to about JFK, 9/11, and the Epstein files. Once you start asking those questions, you cannot
15:2115 minutes, 21 secondsgo back to sleep. The pain is a teacher, but it only matters if we use the lesson to stop feeding the machine that did this to us. Stay asleep and let the
15:3015 minutes, 30 secondsmachine finish its work or wake up and start asking the right questions before it is too late. If this bothers you at all, subscribe because the people who
15:3915 minutes, 39 secondsbuilt the old world are not going to save you from the new one. They are the ones pulling the levers.
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