Alrighty, so you know that you're in part two, when your business starts to sort of tinker with that new type of technology or, you know, maybe they start to automate a bit more, or maybe they're feeling a bit of pressure from perhaps another competitor that's using this new type of technology. So an example of this might be at supermarkets or grocery stores where they've sort of automated a little bit and you can see that they have those self checkout counters as opposed to having everyone just do their general you know, groceries on the conveyor belt like they used to with a person for each person. Or another example might be with Uber, how that has kind of started to really impact the taxi industry. And people are starting to get disrupted as a result of it. So in this sort of scenario, when These sorts of you know, technologies or automation start to creep in.

What is often the reaction of most people in the industry or the companies themselves is, it's usually either one of two things, it's either laughing at the technology or ridiculing it, that you know, will never become anything fantastic. Or the other side of it, if it is very obvious and clear that it's disrupting something like Uber, is it they get very angry at it, they lash out at it, they try and you know, legislated against, legislate against it, or they might try and just, you know, just generally attack it in general. So these are sort of really, you know, Red Alert stages when you know that you're in this sort of section two of this strategy that we're talking about. So, it's at this point where you as yarn person inside one of these companies will have to sort of, you know, take upon yourself to determine whether or not this is a really signal nificant threat or not, you know, for something like Uber taking down the old taking on the taxi industry, I think it's pretty clear that that is a very serious systemic risks to the entire industry, not just one particular taxi company, but the entire industry.

On the other hand, if you get more, you know, different technologies that maybe they've been in research and development for 10 2030 years, and they're still at the very early stages, you know, people might be talking about it, and they may even be ridiculing it and laughing at the technology. But it's pretty clear that you know, it's not going to do anything drastic just at the moment, but it's still something that you definitely want to keep an eye on. And this is what I'm talking about in regards of using your own sort of common sense to help determine how much of a threat this new particular technology or this new type of automation might be. So, another big factor in this sort of determination on how serious The technology and threat might be is whether or not it's software based or hardware based. And we've talked about this at length before.

Generally speaking, software can of course be rolled out far quicker than hardware. But at the other end of it, do be aware that hardware can actually be rolled out quite quickly. These days, I mean, you're not talking about overnight or in a week or anything like that which a software update or a new app or program or technology very well might be released. But you're still talking about a couple of years, which for a lot of businesses is far too quickly for them to totally pivot away from what might be that core, you know, money making reason for existing. So, the other aspect is the types of regulation in your specific industry. So if you're in something like the medical profession, or perhaps aviation or you know, areas where the regulation around it is extremely dense, and even Amazing breakthroughs that everyone desperately wants and needs, they still can take many, many years to go through the proper procedures of getting tested getting trials and having regulations written and approved for them.

So, obviously, in these industries, that's going to take a lot longer for even the most revolutionary technologies, automation things to get implemented and come in as an actual threat to your business or to your position. In the end are, what you want to do is to sit down and have a good hard look at, you know, perhaps one specific technology or maybe a handful of multiple technologies. And to sort of determine what the likelihood in your specific use case with this specific technology in your specific industry, what is the likelihood that this can become a serious threat to your business? What is the likely you know, percentage chance that it's going to be a serious effect to your personal job If you do end up deciding that, you know, yes, something like Uber is a critical threat to you as a taxi driver, whatever you might be doing.

At that point, you're going to want to start to look for another job. And this is one of the key parts of the strategy. And I know it's very difficult to sort of do for a lot of people. But we'll get into exactly how the best way of doing this is. Now, while this premise of having to go find an entirely new job, potentially in an entirely new industry is very scary for a lot of people. It's something that, you know, as much as you may hate it, it is the best thing for you to do.

As I stated before, in one of the earlier sections, it is not an acceptable approach to just stand still and ignore these types of things. If you've, you know, identified this risk, this new technology, this new level of automation that you can see coming as a serious you know, big risk to your company. Do to your position, sitting there and doing absolutely nothing is just going to be the worst thing you can possibly do, you'll end up being the employee equivalent of Kodak or Nokia, and basically end up getting fired or made redundant or perhaps something even worse. At that point, it's even doubly worse because not only are you essentially thrown out, not on your terms, but usually what happens is, that's a very, you know, big disruptive period for the entire industry. And whilst Yes, you might be out there looking for a job with your unique skills and abilities.

There's probably going to be a large number of other people with very similar skills and abilities that have been through the exact same cases you'd have, you know, perhaps there's 1000 taxi drivers that have been laid off in a couple of weeks Judo, a new fleet roll out of autonomously driving Ubers or something like that. So rather than having to go and apply for a job as usual, with, you know, the standard amount of competition that is out there daily when you're trying to get a new job, you're not out there with 1000 other people that look exactly like you that have exactly the same skill set as you. And it makes it 1000 times harder for you to get that job. So it's not just hurting yourself in the respect that you no longer have the choice of when to go out and search for a job.

But when you do get laid off, or something bad does happen, you're at a significant disadvantage at that point when you do that. Now, the good news and the upside to this is that with your reading and research and sort of keeping tabs on these technologies, as I described, in part one, you will be probably one of the best qualified and best, you know, able to see these trends coming in to see these automations or technologies or whatever it is that might possibly displace you as an employee coming as soon as possible. And you'll also know about those times technologies and be able to essentially go and search for a job before anyone else even sort of notices that this, you know, technology or automation is slowly creeping in. And I know again, it's very scary for a lot of people. So I'll be going through a lot of good examples on exactly how this is done in the next four sections.

But for now, we'll keep sticking to describing the second part of this strategy. So when analyzing this, it really does depend on whether this, you know, oncoming technology or automation, whatever it might be, is going to affect just your particular business and whatever it does, whether it's going to affect the entire industry. So again, going back to that Uber and taxi driver example, if you're a taxi driver, and you say that, you know, autonomous cars and Uber and all those sorts of things are probably gonna destroy your job in a few years. Moving to be another taxi driver in a different you know, business is obviously not going to help very much sorry. This is one of the key things that you come to the sod try and figure out, does that technology affect just your business personally or your position personally? Or is it an entire industry wide thing.

So it's a very important first consideration. Another second consideration is more personal. And that is whether you want to use this opportunity where you're changing jobs anyway, to actually change careers a bit as well. So this is often quite a big interest for a lot of people out there, they might get a little bored doing the same job for 10 or 20 or 30 years, whatever it might be. This is a very good opportunity to actually change jobs and also change careers as well. And example of this might be say a mechanic who's fixing personal people's cars or their life and then want to sort of get into a more, you know, maybe administrational job and maybe take care and manage safe fleet cars for someone like Uber, you know, it's a very similar job.

Position to being a mechanic in terms of dealing cars, you're dealing with fleets of cars on a daily basis, but it's a bit of a career change as well as a job change. So these are all very important things. And I'd actually suggest pulling out on creating a document just sort of to go through a couple of these points. So one of the first one, as I said, is Do you want a totally different career or just a slight change? You want to answer this question? You also want to answer it, is it just your business?

It's in trouble, or is it the whole industry? Other ones are what promising new technologies are the that also require your specific expertise? So this is how you can really narrow in on new technologies that the actual technology component might be new, but they still need a lot of background information, that specific knowledge that you actually may have and can bring to the table when you're looking for a new job. Another question is why new companies could use that industry knowledge or expertise that you have. And finally, which of the new technologies interest you the most. So if you're going to go into a new job, you may as well do something that you're actually interested in, I'm sure one of the new technologies will be, you know, it'll pique your interest and be quiet, you know, interesting to you.

So you might as well look into that and learn a bit about it. So, by creating this list and sort of narrowing in on the technologies and your personal interests and sort of marrying these together, you can hopefully get a feel for sort of two or maybe three types of positions or businesses that you know, really interest you have that new technology have a you know, prosperous future and can make for a great stock. This stock is obviously changing jobs. And as I keep saying, I know this is a very scary thing for a lot of people to change positions, which is why we'll be covering it in a lot of data. In the next part, which is part three, so I'll talk to you then.