A chart making the rounds on social media has sparked intense debate about the state of the American economy. Since November 2022, when ChatGPT launched, the S&P 500 has surged more than 70% while job openings have plummeted roughly 30%. The juxtaposition has earned the graphic a foreboding nickname: the “scariest chart in the world.”
At first glance, the divergence appears to tell a simple story: that artificial intelligence has fractured the economy, enriching investors while devastating workers. But journalist Derek Thompson, who wrote about this chart in his Substack last Thursday, argues the reality is far more complex.
