BenjaminHamnett t1_j8gjvey wrote on February 14, 2023 at 3:26 AM

Reply to comment by ActuatorMaterial2846 in Is society in shock right now? by Practical-Mix-4332

Username checks out. You truly are in a more specific niche to know, but the theme of this sub has mostly been scifi nerds being told by industry folk that nothing is likely to happy anytime soon. I never think of IT as being robotics either, and that’s the field that is replacing manual labor.

In fairness, robots HAVE replaced a lot of people. And we’ve chosen NOT to use robots for some things, famously people are just starting to accept self check out and I think the only robot bar tender I’ve seen was a gimmick. Factories are mostly automated. the biggest field, truck driving, will still likely see layoffs faster than tech which seems to be temporarily mean reverting. Warehouses are being automated now. Drones are on the battlefield.

You should push your dad to sell AS ASAP as possible, but that’s probably out of his control. Sounds like he’s about to have a lot downward volatility risk. How old are you? Any interest in helping you dad out? It seems like you have an interest in this. Even if you guys are too rich, it might be fun to have some kind of flexible role. Is your dad retiring?

ActuatorMaterial2846 t1_j8gt5ic wrote on February 14, 2023 at 4:47 AM

I'm 38, but I don't work for him, I'm a PLC electrician (Porgrammable Logic Control or automation industrial electrician), so I program robots in factories like you described, amongst other automated processes. I mean its interesting tech, but they're pretty dumb machines, mostly relying on timing and positioning parameters, I don't write the code or anything, but I do input it and install the necessary equipment. Mostly for smaller factories, but its often the same principles.

His field is in finance specifically, so not really my industry. The decision to sell was based on licensing agreements with the major accounting firms in our home country. My understanding is that they're committed to 5 years using his product, this allows him to consider that revenue in the negotiations. He is already retired, but he is still chairman currently.