Avoiding Economic Collapse The crucial thing is we need to move from an income to ownership based economy. We know this is possible because it already works today for rich people. Look at the tax return of a rich person. They make little to no W2 income. CEOs performatively take $1 salaries. Their money comes from 1) appreciation of assets and 2) payments from cash flowing businesses. As AI eliminates massive amounts of income based jobs we need to help people move to ownership based economic system. We can do this with crypto & AI. Crypto because it lowers the cost of capital formation, price discovery, and administration to zero. AI because it enables autonomous cashflow businesses. A specific example, me and my friends own a car together. There are two problems, 1) pooling money to buy a car is complicated and being able to buy in or out at any moment is not possible. Crypto solves this. 2) a car is a depreciating asset. Yes, we own something together but its value goes only down. AI turns a car into an autonomously cash flowing asset. With crypto and AI. We can easily pool money to own a car together, we can have liquidity to sell out at anytime, and the car generates revenue autonomously. We make money without working. Just like the upper class does today. The key thing is crypto & AI are massively increasing the supply of these types of assets and creating liquid markets for them. Autonomously cash flowing assets have not existed before. Someone needed to drive the car. They are now possible. Historically you couldn't get instant liquidity for a car -- tokenization solves this. We just need to make sure the person who formerly drove the car now has a share in the ownership of the autonomous car. It's that simple. We can do this. UBO = Universal basic ownership.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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