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All wealth becomes digital.
That's the consequence of software eating the world. Everything becomes analogous to a PDF, a set of digital instructions that you can get a printer (or a robot) to print out in the real world.
That's the consequence of software eating the world. Everything becomes analogous to a PDF, a set of digital instructions that you can get a printer (or a robot) to print out in the real world.
Amazon Prime, drop shipping, food delivery, ride-sharing...all of them involve a digital frontend and a human backend.
But over time more pieces are getting automated. Robot manufacturing, autonomous trucks, drone delivery, self-driving cars. So the backend goes digital too.
But over time more pieces are getting automated. Robot manufacturing, autonomous trucks, drone delivery, self-driving cars. So the backend goes digital too.
AI (in general) and virtual influencers (specifically) are obvious examples of this trend, where the manual backend is no longer as necessary. As is crypto, where much of the labor in the financial system is being automated with smart contracts and digital signatures.
Because all wealth goes digital, all wealth goes crypto over the next few decades.
So it's not just currencies, loans, stocks, commodities, art, and video game items. It's every type of human wealth. It all becomes natively digital, the input to a (perhaps robotic) "printer".
So it's not just currencies, loans, stocks, commodities, art, and video game items. It's every type of human wealth. It all becomes natively digital, the input to a (perhaps robotic) "printer".
What happens when more jobs get automated?
One thesis is that investing becomes the most common "job" of the 21st century, like the 1800s was about farming and the 1900s was about manufacturing. This transition may already be quietly underway. https://twitter.com/balajis/status/1308430095460134912
One thesis is that investing becomes the most common "job" of the 21st century, like the 1800s was about farming and the 1900s was about manufacturing. This transition may already be quietly underway. https://twitter.com/balajis/status/1308430095460134912
The reason people don't think of investing as a "job" is that (a) it's often zero sum, (b) it's random, and (c) it's easy to lose money.
All true. But at scale you might smooth it out. Give everyone an amortized stake in economic growth. With robotics reducing consumption costs.
All true. But at scale you might smooth it out. Give everyone an amortized stake in economic growth. With robotics reducing consumption costs.
