It is fashionable, or at least consensus in America today, that our problems outweigh the blessings we enjoy in this country. There is much to complain about in how our government is working, how our economy is working, how there are so many elements of life that we see and experience that appear to be deteriorating and appear to be unfair.
In my interview with Anthony Pompliano (HERE), you’ll see his view as a venture investor and who’s curiosity has been converted into a business media powerhouse.
He points out that technology has delivered to billions of humans around the world the ability to turn ideas into action and action into results. Simply having a laptop and a high speed internet connection allows anyone the ability to start a company, start a non-profit, or start a movement by outsourcing almost all of the components of an effective organization. Ideas can now permeate the global landscape rapidly.
Source: Commerce Institute
Chamath Palihapitiya has emphasized recently in the “All-In Podcast” that AI can now allow an individual to scale companies with only the founder(s) and no employees as AI can deliver all of the components of running a business. This is possible today, but the promise of tomorrow.
Here are the highlights of my interview with Anthony Pompliano:
Pomp says growth in prosperity is intact! Economic growth is more likely to accelerate from here than it is to regress to an historically lower norm.
Why optimism? Because we are a nation of competitors even though the complainers get the headlines, and these forces are now global as well.
Technology and venture capital have transformed the ability for anyone with an idea anywhere in the world to take on and overpower established incumbents, from corporations to governments. And the technology continues to improve.
Pomp sees two themes from technological development- decentralization and self-reliance. These effects are timeless and undermine the power of incumbents.
Listen to the many examples he gives.
Many of the most promising technologies for boosting economic growth are not the ones getting the headlines, much like the elevator did not get the headlines when it became a critical invention in enabling the density in cities to accelerate in the late 1800s. Expect to see these unsung technologies to improve productivity from the bottom up in many industries and listen to his examples.
Pomp points out that the best examples of small players taking on powerful incumbents are Chat GPT/Google, TikTok/Facebook, Shopify/Amazon, Bitcoin/Fiat and that incumbents everywhere can be disrupted at accelerating pace.
Red flag; wherever you see incumbents begging for regulations by appealing to the public you can be sure technology is enabling new competition. Compete or die!
Competition is at the heart of human civilization and nature in general. And the tools available to the average person continue to accelerate and the power of incumbents over smaller competitors continues to erode, also hidden from the headlines! And nation-states are feeling the pressure to compete (NY/CA vs FL/TX), and these same forces in the private economy are at work at the government level as well.
I hope you enjoy this up-beat reminder of human ingenuity that explains the forces propelling global prosperity.