The claim that investing for a living can somehow replace labor in a post-AI world ignores the simple chain that labor is the source of all value in the economy. Without workers producing goods and services, there is no income to buy those goods and services. When wages collapse because labor demand collapses, so does purchasing power. This means companies cannot sell at scale, and their profits vanish, which drags down stock prices.
If no one is buying the products, BlackRock's and robinhoods of the world cannot magically generate returns, and 401k accounts, stocks, etc, tied to equities evaporate wealth. Investing is not a substitute for production it is a claim on future production. If AI displaces human labor entirely and no mechanism of redistribution is created, then there is no broad income base to sustain demand, and the very market structure that funds stocks, bonds, and retirement accounts implodes. Capital needs labor to be meaningful; without it, portfolios are just empty paper.