Devin Baker

The generational wealth imbalance is not a problem that America will solve.

It is a pressure gradient the system will route around.

And the routing takes the following shape:

•AI becomes the new productivity engine

•Bitcoin becomes the new neutral store of value

•stablecoins become the transactional layer

•fiscal policy keeps real growth from collapsing

•... See more

Bitcoin is not popular with millennials and Gen Z because they are rebellious or ideological.

It is because:

It is the only major asset where the asset base is not already owned by the seventy-plus cohort.

Housing? Owned.

Equities? Owned.

Bonds? Owned.

Private equity? Owned.

Land? Owned.

Bitcoin is the only vessel where younger cohorts can accumulate a... See more

You have a society where:

•the young produce most of the real economic output

•the old own most of the financial claims on that output

That is not capitalism.

That is not socialism.

It is a hybrid pressure cooker that has only one escape valve.

4. That escape valve is non custodial, non political, non permissioned digital asset accumulation.

the last 1,000x thesis the reason I call privacy the last 1,000x or the last PvE is not just for a soundbite (though it's also that) it is based on fairly obvious, emergent market asymmetries and gaps, along with the right timing on macro this includes ZK, but... See more

The composition of household spending transformed completely. In 2024, food-at-home is no longer 33% of household spending. For most families, it’s 5 to 7 percent.

Housing now consumes 35 to 45 percent. Healthcare takes 15 to 25 percent. Childcare, for families with young children, can eat 20 to 40 percent.

If you keep Orshansky’s logic—if you... See more

The official poverty line for a family of four in 2024 is $31,200. The median household income is roughly $80,000. We have been told, implicitly, that a family earning $80,000 is doing fine—safely above poverty, solidly middle class, perhaps comfortable.

But if Orshansky’s crisis threshold were calculated today using her own methodology, that... See more