50 years ago, 25 hours of labor could buy one share of the S&P. Today, it takes roughly 8× more and about $200 for a single share. That means labor has lost power as a way to convert time into long-term ownership. What does that mean? Your time has lost purchasing power relative to capital. This creates a structural problem: > Labor produces linear returns (hours → pay) > Assets produce non-linear returns (compounding, leverage, upside) This is why crypto resonates so deeply with people around the world. At a subconscious level, it taps into a shared anxiety of being blocked out of capital markets, and instead offers a new way in. Thank you @calilyliu for sharing your thoughts with us. Conversation to be continued. 2 & 3, June 2026. Louvre Palace, Paris.