The Great Reset Was Already Predicted In 1997
VERY interesting summer reading
One of the readings of this summer has been a book that I highly recommend to everyone. It is about the Sovereign Individual.
It was a book whose first version was written in 1997, and it already predicted what was to come. So far, he has been getting it right in many aspects of how society was going to behave, and he gives us a recipe to face a world full of intangibles.
Fourth Phase of the story
But let's start at the beginning. According to the authors, we are entering the fourth phase of society, the information society. The first three phases were agrarian, farming, and modern culture. But there is a big difference between this fourth phase and the previous ones. This phase will not take hundreds of years but a few years. In these few years, individuals will see an enormous amount of change take place. These changes will totally change our civilization and our understanding of the world.
This fourth phase will take place entirely on the web, where the vast majority of people are already active during the great course of our days. This web will give the individual greater autonomy. This autonomy will allow people to contribute to the world from anywhere, in a decentralized way.
As of today, we are already seeing how there are people working from India who are able to create websites, apps, etc., for people on the other side of the world. This decentralization will allow for a greater meritocracy based on the skills of each individual.
By joining the vast abilities that can be acquired at practically zero expense, individuals will set out essentially interminable open doors to produce pay and accomplish monetary autonomy.
Business is changing, and so are the profiles that companies are looking for. A software developer is able to earn up to $400k/year.
The progress to an Information Society and the massive changes to mega political elements will adjust how the world, particularly business, works until the end of time. The monetary impetuses produced by microtechnology will vary significantly from those in the modern period for various reasons.
On the one hand, businesses are much more scalable than before and are full of intangible assets. For example, until relatively recently, Instagram ($META) had just 100 employees for an APP that is used by millions of people around the world.
On the other hand, it lowers the cost of business operations and allows a higher return. This return is always based on the value provided by the business.
Applied to the economy
These changes were already anticipated in 1997, and we can already see how they are being fulfilled. On the other hand, they anticipated economic advances that will change the way we understand money.
First, they predicted how everyone would have access to all types of financial assets. At that time, it was very complex to have access to any type of asset. You could only buy a series of securities offered by the bank with completely abusive management fees. Only those who had a (very) high purchasing power could access products such as hedge funds.
Since then, we have seen how any retailer can access index funds for only 0.1% management fees. Not only that, but any individual can beat any hedge fund by investing as little as $100.
Crypto and AI
If there are two things that the authors were already clear that would change the course of society far above all the above, it was cryptocurrencies and Artificial Intelligence.
In the case of Artificial Intelligence, we are already seeing how a number of applications have emerged that we would never have thought of, from movie recommenders to autonomous cars. This is without taking into account medical equipment that is capable of operating on its own.
Finally, he puts a special emphasis on cryptocurrencies. If we believe in a connected world, we must believe in a protocol that allows us to manage the economy of this vast network. This protocol must be fair, and it must fulfill all the properties of money.
For this purpose, not only network currencies have been created, but also the possibility of making contracts on the internet (smart contracts).
We are still at a very early stage in this respect, but there are endless opportunities to make a lot of money. For this, we are collaborating with Godfather Investor, where we promote investment ideas and strategies in crypto so that anyone can access them.
On the other hand, as you know we at Asymmetric Finance have in our portfolio an important part in crypto and stablecoins, where we have strategies that allow us to earn returns above 10% per year.
You don't have to look far in the rearview mirror to see how far we have come in just a few years.
Not only that but the way we relate and communicate. We have moved from F2F (face-to-face) to a virtual world. For this, we have created many protocols (SSL, email, etc.), but we need one to be able to make payments over the Internet (Bitcoin). When this protocol is understood by more people, its price will vary. According to Fidelity, $1M in 2030.
But there are many people who believe that if it becomes adopted as a world reserve, the price of 1 BTC could reach $6M. Many people don't want to see it. But as long as a few people read us and thank us after a few years, that's good enough for us.
In the meantime, we continue with our asymmetric portfolio that will make us a lot of money in the long run.