Ownership and the American Dream

Small business owners create value in a neighborhood, but they don’t capture most of it.  withco exists to fix that by making small business owners property owners, too. 

There are obviously ways to avoid that situation. Every DAO that wants to confer ownership could register its tokens as securities, for example. But that adds mountains of red tape, cost, and friction. It slows down innovation. It makes it more onerous to share upside. And ultimately, it forces many DAOs to register elsewhere, in the Cayman Islands... See more

say I wanted to give readers carry in Not Boring Capital via tokens as a sign of my acknowledgment that Not Boring Capital doesn’t work without them. Nope, can’t do it. I wanted to give ownership and upside to thousands of people for free, and was told that doing so would be illegal. That’s embarrassing, and it needs to change. 

The point is this: we need to stop focusing so much time worrying about protecting peoples’ downsides and start spending more time working on getting more people more upside. 

Obviously, we need to make sure that people are well-compensated for their labor, that they’re able to put food on the table, a roof over their heads, an education in their brains, and that they can pay their medical bills without fear of bankruptcy.But a person’s labor can’t grow exponentially, it can’t possibly keep up with exponential growth, so... See more

The lack of granularity and legibility means that all those little fractions of a cent, over billions of people, accrue to the center. And the center invests, turning those cents into dollars. That’s great, that’s the trade we’ve had no choice but to accept, and it’s exactly what companies are supposed to do. 

Housel argues that expectations take a long time to change, and that people are still expecting to go back to the way things were in the 1950s, when working hard meant a good house, a good car, and social status. Trump leans into that, and Warren leans into that, but it’s a fairy tale. There’s no going back.  In absolute terms, Housel points o... See more