Thread by @ideafaktory

Industrialization is what made a middle class possible & what will destroy it.

How many desks or sweaters could a laborer make in a day? Just enough to subsist. With machines, enough for a small town. Pay rises.

Digital is on the same curve—cheaper but wider distribution.

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The redistribution needed to sustain a middle class population of ex-laborers is both essential & destructive.

Work creates pay, but more importantly skills, purpose, discipline, socialization, resilience.

Money is necessary. Alone, it's poison.

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https://twitter.com/ideafaktory/status/1434914420233211907

Redistribution demands a fundamental re-calibration of education & life skills that can help you fill days in ways that *feel* meaningful & can take up a day.

But it still requires MARKETS. They provide pricing & essential value signals—even for simulated meaning.

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Crypto & NFTs exemplify simulated meaning + markets.

An infinite, digital chasm of learning & busywork, yielding earnings from inventions w/no real-world utility.

Soon this will occur inside a game-like metaverse.

Our challenge is to add utility. Or improve the simulation.
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Making Sense of The Metaverse

#economics #metaverse #future #tech #education #economy #jobs #finance #cryptocurrency #NFT

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