Crypto

By yielding a generational wealth creation opportunity that was a strange hybrid of a lottery jackpot and self-made fortune, crypto created an ideological hold on its early entrepreneurs and workers. It had all the euphoria of a gold rush and all the self esteem of high tech meritocracy.

There is a palpable component of financial nihilism here – the idea that cost of living is strangling most Americans; that upward mobility opportunity is out of reach for increasingly more people; that median home prices divided by median income is at a completely untenable level. All of that is true, so you need to really swing for the fences. Why... See more