His reference to "automation" here of course does not necessarily mean automation of labor(i.e. assembly line automation), but instead the fact that companies w

His reference to "automation" here of course does not necessarily mean automation of labor(i.e. assembly line automation), but instead the fact that companies with lots of cash to throw around can gut their workforce and hire in temp agencies. Hence "automation capital". They are "automating" in the sense that a churning workforce consisting of temps can be paid less overall. There will never be a shortage of people to fill those jobs and there is no need to cover expensive benefits.