Closest I could find for UK

https://literacytrust.org.uk/parents-and-families/adult-literacy/

This is for the US only, unfortunately, but it substantiates my claim, according to this article 54% read below 6th grade level but the “average” American reads at 7-8th grade level

Most Americans read at or below a 6th grade level

I wonder if they are out of touch because they are CEOs, or whether being out of touch helps them become CEOs, real chicken and egg problem there

Nothing is permanent

apparently the bubble might not be as extreme as some people think because the major AI players are all being propped up by companies that actually produce revenues and profits