The Times They are AI-Changing

I have witnessed three world-changing technologies in my lifetime: the rise of the internet, the power of smartphones, and technology reaching into every aspect of daily life. These sweeping transformations have made life more convenient, more efficient, and more expensive.

The internet has turned instant communication and global connectivity into something we now take for granted. The smartphone replaced physical cameras, maps, telephones, music players, address books, flashlights, and alarm clocks in just a decade. At the end of this blog, there is a longer list of items that have been replaced, courtesy of ChatGPT.

Trillion-dollar companies grew from small startups. Billion-dollar companies went out of business. Some adapted, and for others the future is still uncertain.

Each of these technologies built upon the previous layer:

Layer 1: Internet connectivity

Layer 2: A smartphone in every pocket

Layer 3: Technologies only possible because of layers 1 and 2, such as Uber and DoorDash

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Layer 4 is here, and we are only in the beginning stages of its impact on the economy. Broadly, it is called AI or artificial intelligence, but it is more than simply smarter computers. These are computers that can interact with you on a near-human level, take feedback, understand tone, and make meaningful changes.

Imagine asking Siri to book a flight and the ticket simply appears in your email.

Imagine asking ChatGPT to generate a living trust or a will.

Imagine asking Perplexity to analyze the best cars to buy in the next year.

All of these tasks, which once required human brainpower, personal energy, and time, are now being refined and delivered through scalable AI engines, powered by technology companies.

Here are the 40 jobs most at risk. Although I earned a history degree from the University of Colorado, I am glad that it is not my source of income.

source: newsweek.com/top-40-jobs-most-likely-impacted-ai-2103956

Although many people will lose their jobs as this technology advances, many new roles will be created. Jobs like prompt engineer, AI software engineer, and machine learning engineer are already emerging.

Interestingly, blue-collar work should remain relatively stable through this period. It is the white-collar workforce that faces the most disruption.

That is until we reach Layer 5: physical application.

Layer 5 has already begun. It is technology entering the physical world. Think drones, most visibly in drone warfare in Ukraine. Think self-driving cars from Waymo or Tesla, and self-driving trucks from Aurora Technologies or Tesla. Surgical robots from Intuitive Surgical and drone taxis from Joby or Archer Aviation are already in development.

My takeaway is this: if you have missed these big themes in the past because you were value investing in Xerox at a 4 P/E, do not miss this trend. It is massive, and it has only just begun.

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These themes have been playing out in the market for the last few years, so most of these companies are far from cheap. Hiring a qualified investment advisor to help sort through the noise may be a great investment. If you’re interested, click on the ‘work with Zak’ tab.

ChatGPT’s list of things replaced by a smart phone:

📸 Photography & Video

• Digital cameras

• Camcorders

• Photo albums (with cloud storage and sharing)

🧭 Navigation & Travel

• Paper maps / atlases

• GPS units

• Compasses

• Travel guides and phrasebooks

• Physical boarding passes / tickets

📞 Communication

• Landline phones

• Payphones

• Answering machines

• Fax machines

• Walkie-talkies (for casual use)

🎶 Entertainment & Media

• iPods / MP3 players

• CD players / cassette players

• Radios

• Portable DVD players

• Handheld gaming consoles (partially)

• Television (streaming on mobile)

• Newspapers and magazines (via apps or web)

📖 Reading & Writing

• Notebooks / journals

• Address books

• Dictionaries / thesauruses

• Cookbooks

• Printed calendars and planners

• Physical books (for casual readers via eBooks)

🔧 Utility Tools

• Flashlight

• Alarm clock

• Stopwatch / timer

• Calculator

• Level tool / ruler (via apps)

• Voice recorder

• Scanners (for documents or QR codes)

💼 Finance & Work

• Checkbooks (digital banking)

• Physical wallets (via Apple Pay)

• Business cards (digital alternatives)

• Physical boarding passes / loyalty cards

• Office supplies like fax machines, pens, etc. (to some extent)

💬 Social & Internet

• Desktop computers (for casual browsing)

• Printed photographs / photo frames

• Bulletin boards / classifieds

• Dating services / matchmakers

• Local event flyers

🛒 Shopping & Services

• Coupons / loyalty cards

• Catalogs

• Cash registers (for some small businesses via Square, etc.)

• Travel agents

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All investing involves risk including loss of principal. No strategy assures success or protects against loss.

The views expressed in this commentary are subject to change based on market and other conditions.

EP: 166 - June Investment Insights

Advisors and co-hosts Zachary Bouck, CIMA®, CFP®, and Austyn Garcia, recap our June 2025 portfolio meeting, discussing what happened in the markets over the last month, our approach to traditional asset allocation (cash, fixed-income, equities, and alternatives), and our general outlook for the next 6-12 months in the markets.

0:00 – Introduction to Podcast & This Week’s Action Items 2:32 – The Rise of AI in Investing 4:37 – Market Overview & Investment Strategies 8:31 – Retail Investor Resilience in Market Pullbacks 13:12 – The Impact of the New Retail Investor 16:39 – Investor Temperament & Staying Informed 20:41 – Long-Term Investment Outlook 24:39 – Technological Innovation & Market Trends 29:11 – Exploring International Markets & Nuclear Energy 31:57 – Public Perception of Nuclear Power 35:25 – The Future of Self-Driving Cars 40:32 – Final Thoughts on Change & Innovation

Visit www.denverwealthmanagement.com to schedule a free consultation.

Aspen Money: Understanding Wealth Creation

I’m writing this from a balcony in Aspen, Colorado, sipping overpriced coffee and trying to understand how in the world a place where the average home costs $13.2 million even exists. (Spoiler: it's not because everyone here saved their Starbucks money.)

If you’ve listened to our podcast series The Ladders of Wealth Creation—and if you haven’t, what are you doing with your life? —you’ve heard me say this before: understanding how the ultra-wealthy actually make their money is the single most powerful tool for building your own wealth. That’s why we’ve done not one, not two, but seven podcast episodes and several blogs on this.

Boots on the Ground in Aspen

I came to Aspen for the Aspen Ideas Festival. I wanted to see what it’s like, boots on the ground, and It’s not just that they have money. It’s that they think in terms of systems, not salaries.

The median U.S. household income is about $80,000. That means that, if you did nothing but save for 75 years without eating or paying rent, you could almost afford a home here. Almost. So clearly, we’re talking about people who are playing a very different game.

Getting Off the First Ladder

Most people are stuck on the first ladder of wealth creation: selling their time for money. It’s noble, honest work—but it’s also the slowest, most difficult way to become wealthy.

Let’s be clear: if you’re being paid by the hour, your income is capped by the number of hours in a day. And last I checked, even Beyoncé only gets 24 of those.

To really build wealth—the kind that lets you write a blog from Aspen instead of Aurora—you need to level up:

1. Get paid for results. Commissions, bonuses, performance incentives, these all scale better than hourly pay.

2. Get paid from ownership. Businesses, equity, royalties. Think “I own this” instead of “I did this.”

3. Use leverage. Not just financial leverage but also time, technology (software doing the heavy lifting), and distribution (one product, millions of users).

The Secret Sauce: Scaling

Now don’t get me wrong—getting off that first ladder is no walk in the park. Scaling a business or an income stream requires a delicate cocktail of:

• Conviction (to keep going when the first 14 ideas fail)

• Humility (to accept feedback without crying)

• People skills (because investors and customers don’t like jerks, usually)

• A useful product (that ideally isn’t another AI-powered toothbrush app)

Finding all four is rare. Finding them in yourself is even rarer. But if you do, you’re no longer just working for money—you’re building systems that print it while you sleep.

Final Thoughts from 8,000 Feet

As I sit here watching the Gondola go up and down the mountain, I’m reminded that Aspen money isn’t just about luck or inheritance (though those do help). It’s about mindset, strategy, and systems.

If you want to create abundance, stop thinking like a laborer and start thinking like an owner. Because to have Aspen money, you have to think differently.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.