He was talking about the LKY era where sinkies have no livelihood issues and easy to find job in the market. Those were the days without foreigners. Then, he fast foward today, to justify why sinkies could not get job easily because we are not as talented as foreigners and the $500 reskilling fund will bring you places.
In conclusion, he said Singapore core will scare investors. Foreigners drawing $4500/month are considered talented and much sought after by big America Giants and rich people aka Bill gate and Elon Musk. If foreigner salary is $4500/month, they are considered rare in world of billion people and company will want to set up HQ here to DRAW THEM because Singaporeans cannot earn that amount.
If you wanted to spend one hour soaking in that kind of BULL, again, you are fucked for the next 5 years.