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Come up with a better system and you will be rich. "Better" should be scalable, measurable, objective etc.
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How about “just as good, without the human misery?”. Many shops are doing that, and have no problems hiring and retaining people.
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It cannot be long before anyone can apply for any job, and everyone gets an "AI interview" that does the actual screening.

Not perfect, but far better than the current resume filtering.

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I mean, we live in a day and age where an entry level administrative job requires a degree. Gotta make sure to keep us trashy blue collar guys in our place.
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Except that trades probably make more money.
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I was an autobody technician, and later. diesel mechanic. I make more now averaging 20 hours a week on Upwork.

Unless you are a business owner or a union member, you're probably not doing particularly well.

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