Thread by @jackbutcher

arguing that inflation is good for people who sell their time by the hour is dumb

an education system that produces people who believe it is a tragedy

controversially, I don't think the money supply is as much of a problem as people's mental models for how to "earn" money or what is "worth" money

"I worked hard so I should get paid" is entering oxymoron territory when you think about it in the context of networks and technology

"I did something no one else can do so I should get paid"

or

"I stopped people from needing to work hard so I should get paid"

getting closer

another mental model:

there is fungible work (paint a wall)

and there is non-fungible work (paint the sistine chapel ceiling)

(I am not saying this is good, just true)

perhaps a fair argument would be that the environment (ultimately a product of trying to manage entropy and chaos) prevents people from getting to the non-fungible stage

feeling like you can't keep up is not conducive to investing thousands of hours in building a skill

all that said we end up at the same place

"it's not rich vs. poor, it's leveraged vs. unleveraged." – @naval

if you are trying to amplify any of these principles, I applaud you

@naval for the "they want to keep you dumb" crowd

I don't think so, for the most part "they" grew up with a set of rules that are now completely obsolete and their mental models of the world/economy etc are just very distant from reality

then plot this trend exponentially

@naval "the speculation age" is maybe a fitting title

power laws consolidate capital and attention

if you own nothing in that system while the unit of account you're exchanging your finite time for buys less and less, life gets more difficult