But what he describes, hedging risk, is not a new concept. It is something that people do every day when they diversify investments or buy insurance. ISAs and "person as tokens" just push this to new levels.
> In such a scenario, every career becomes a pyramid scheme.
In other words, the rich get richer--scalability works.
One thing the author left out (or that I missed) is that scalability increases overall wealth. If I have to learn calculus from an average teacher because of geographic limitations, and then my child gets to learn from the best calculus teacher in the world, in the latter case the world gets richer because the same knowledge is arrived at quicker at less expense. (Of course, there's fallout for the average worker, but this is something we've been dealing with in the developed world for decades and still haven't figured out.)
But what he describes, hedging risk, is not a new concept. It is something that people do every day when they diversify investments or buy insurance. ISAs and "person as tokens" just push this to new levels.
> In such a scenario, every career becomes a pyramid scheme.
In other words, the rich get richer--scalability works.
One thing the author left out (or that I missed) is that scalability increases overall wealth. If I have to learn calculus from an average teacher because of geographic limitations, and then my child gets to learn from the best calculus teacher in the world, in the latter case the world gets richer because the same knowledge is arrived at quicker at less expense. (Of course, there's fallout for the average worker, but this is something we've been dealing with in the developed world for decades and still haven't figured out.)