Musk On Automation Replacing Jobs

Elon Musk believes that even with automation, there will be a labor shortage. He also implies that the decrease in costs of goods and services from automation may raise the quality of life by a very drastic degree. What do you think? Will jobs no longer be a necessity at some point? Do those that might lose their job to automation need a support system to catch them, or will there be plenty of job opportunities for them to move on to as Elon suggests?
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Interview Credit: TED
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