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Barry Sternlicht, the billionaire behind Starwood Capital Group, just dropped a bombshell that's got people talking. The real estate mogul openly admitted he'll "have to" let employees go as AI becomes more capable.
This isn't some distant threat—Sternlicht is actively planning workforce reductions driven by automation. His blunt honesty cuts through the usual corporate speak we hear about "AI augmenting human workers." When a titan controlling billions in assets says the quiet part out loud, it signals where the broader economy might be headed.
The real estate sector has been relatively slow to adopt cutting-edge tech compared to finance or retail. If even traditional industries like property management are pivoting hard toward AI, what does that mean for employment across other sectors?
Sternlicht's comments raise uncomfortable questions: Will productivity gains from AI translate to better services and lower costs, or just fatter margins for asset holders? As automation reshapes white-collar work, the wealth gap could widen further unless we figure out new economic models.
The revolution isn't coming—it's already here, and executives are making calculated moves.