In 1987, REM released the stream of consciousness and reference-filled hit "It's the End of the World as We Know It." The song captured a sense of chaos and angst in an ever-changing world but still managed to send a message of calm with the final chorus line "And I feel fine."
Chaos and angst also seem to be the ongoing theme for the past few years, especially in the ever-changing landscape of AI. During Christmas 2022, I remember ChatGPT being just a fun party trick. Now, there are predictions AI will end white collar jobs completely. In other words, it's the end of the world as we know it…
Or is it? In a recent paper, Eldar Maksymov, an accounting professor at Arizona State University, revisits the 1979 release of VisiCalc, which was the first electronic spreadsheet. It was widely believed that this new technology would end the need for accountants. Instead, Maksymov comments, "It unleashed latent demand for financial intelligence." Over the next forty years, the number of accountants grew by 300%.¹
What drove this demand? Jevons paradox. This principle, named after British economist William Stanley Jevons, essentially says that when a product gets cheaper, demand skyrockets as new uses are discovered. He first noticed this effect when more efficient steam engines were invented, yet the demand for coal increased dramatically.
So we can't know AI's ultimate effect on the workforce because we don't what new uses we will discover. It will definitely change the workplace and economy. But how? I'm skeptical of anyone who answers this question with great conviction. After all, as of February 2026, job postings for software engineers are up 11% from last year²--something I don't think anyone predicted.
Keep in mind, before we were worried about AI taking all the jobs, we were worried about the "pipeline" of workers--having too many open positions created by retiring baby boomers, especially in the fields of accounting, healthcare, and engineering. We’ve always got to be worried about something.
We're still in the early innings of this AI transition. And when the future is genuinely uncertain, the most prudent response isn't a bold bet or panic selling--it's a diversified portfolio. Own the companies building the AI infrastructure. Own the sectors that might benefit from new, unleashed demand. And own the ones that look boring and non-cyclical. Because in a world this unpredictable, the best hedge isn't a prediction--it's balance.
REM had it right. The world as we know it may well be ending. But if history is any guide, "feeling fine" isn't naïve optimism--it's the strategy.
1. Maksymov, Eldar, The Jevons Paradox and Insatiable Humans: Why AI Won't Empty the Finance Suite (April 06, 2026).
2. Software engineer job postings data: Indeed, via Citadel Securities, "The 2026 Global Intelligence Crisis" (February 2026)
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Josh Norris is an Investment Advisory Representative of LeFleur Financial. Josh can be reached at josh@lefleurfinancial.com.
Josh Norris, CPA, CFP, CFA is the managing member of LeFleur Financial, a wealth management and tax advisory firm.