The American Dream is Going Digital

In the future, it’s likely that the average person will not work for a company. Instead, people will earn income in non-traditional ways by taking actions such as playing games, learning new skills, creating art, or curating content. This kind of shift in how we work is not unusual or unexpected — the idea that most people would be employed by larg... See more

A society made up of human beings who have turned themselves into small businesses is basically the logical endpoint of free market capitalism, anyway. To achieve the current iteration of the American dream, you’ve got to shout into the digital void and tell everyone how great you are. All that matters is how many people believe you.

The Internet RevolutionI already explained what happened to newspapers when distribution erased local newspapers moats in the blink of an eye; as I suggested at the beginning, though, this was not an isolated incident but a sign of what was to come. Back in July I laid out how the acquisition of Dollar Shaving Club suggested the same process was ha... See more

These emergent digital economies are facilitating dramatic wealth accumulation for a small few and supplemental earnings for a great many. They are the new ladders and ledges being created to replace the elevators that have been destroyed. They are, however, only accessible to those with the relevant skills and education. Many will be left behind.

Of course, not everyone has the financial foundation to become a “time millionaire” or to start earning their living in the metaverse. Digital economies are nascent and not yet robust enough to support billions of digital workers. These same trends are powering the creator economy, remote work, freelancing; they are broader than Axie and its counte... See more