It feels also this speech was not really in any way related to AI per se.
It was the Ayn Rand-esque hero, an Übermensch, who of course formed Google out of nothing proclaiming that individualism and egoism are the way to go, that they have a small alcove at best in between the productive assets of the factory owner who wields the materials to his will and creates his perfect city of perfect design that needs none of your contribution. That these graduates aren't be be valued by their creativity or self-worth but by the marginal contribution they may have towards his empire, to be discarded once they don't have anything to give. He's the ultimate factory owner, the owner of the factory that makes everything and brings light to all, and the masses just don't appreciate his brilliance and the brilliance of the other tech bros.
None if it is particular to AI, it's just that AI is the latest tool with which the workers of the world are deprived of the means of production. They know that capitalism is healthiest when the wealth is distributed, and here the Randian hero tells them not that the wealth will be distributed, but only the labour and the AI will do most of the labour, and that the human contribution is a penny for themselves and 99 cents to those that already have a hundred billion, and excited with an incomparable glee Eric expresses that the datacenter that powers the AI will be the panopticon through which the factory owner will judge the productivity of his workers.
It is such a horrifyingly dismal picture he painted right on their faces and if they would just allow that data center and stop booing him they'd understand, surely they must understand that he's the hero, that he and his Rearden Steel will make them the shining city that the unwashed masses for their utter collective incompetence cannot.