No one talks about job losses ahead.  The internet has been great thing and we really can’t fight progress as we move with breakneck speed into a new world.  

With the huge players such as Meta, Amazon, Tesla, NVDA (chip makers) Microsoft and Apple, more and more dollars will be centralized in fewer hands.

 One way to be a part of the success is to own shares of the companies or to slow down our national love of consumption.  But can we?  Will the lose of the taxes paid by these brick and mortar stores and the taxes taken from the wages of the workers be replaced by more taxes on the hugely successful companies that have benefited from internet explosion?  Many people, young and older, uneducated and educated, will be out of work due to retail losing shoppers and AI.  Here is the data….. 

Applebees announced closures for 2024.  The Body Shop filed for bankruptcy and will close all 50 stores in the USA.  Rue 21 will close all its 540 stores in Chapter 11 bankruptcy.  Mall retailer Express will close 95 of its stores.  99 cents Only will close all 371 stores.  Payless Shoes will start going-out-of-business sales at 2500 stores.  16,000 workers will lose their jobs. Target will close stores in San Fran, New York, Seattle and Portland citing employee safety issues and theft. 

Wall Street says 50,000 retail stores will close in the next five years. They are currently 940,000 stores in the US .  Macys will close 150 stores.