Summarizing Joesph Schumpeter: When innovation speeds up so fast, driven by capitalism, the printing of money and allowing things to grow at a very rapid pace, you end up with a massive distribution of wealth problem, which we now have. At that point capitalism cannibalizes itself through the fact it doesn’t actually need anymore jobs. Call it creative destruction. IMO, ₿itcoin will fix this as more people will have more time to pursue their passions in life rather than working in a job that does not bring them joy.

Right now, AI is the fuel behind Bitcoin.

GM friends 🌹

Where the millionaires are relocating:

Good stocks, and there have only been 300 out of 30,000 (1%) from 1926 to present, can give you exponential returns. You have to be in the top 1%. If you are in the bottom 97% of stocks or assets, you have lost money. Source: Invest Answers

This is called seller's remorse in an extreme case. The so-called experts think they are being very shrewd and selling early. This bag would be worth $190 million today. Greg's story illustrates the importance of holding. It is okay to take some off the top, sell a little bit, hedge, or whatever you want to do.

It has taken crypto 16 years to get to 580 million users. The Internet took ~36 years (from the first dial-up connection in 1969) to reach 1 billion users by 2005. While it took 36 years for the Internet to hit 1 billion, it added 3.5 billion more in the 15 years after (2005–2020) with the rise of things like smartphones, social networks, and emerging markets. If crypto’s tipping point unleashes the same kind of post-1 billion acceleration we saw with the web then we could see 3.5 billion users—almost half the planet—in less than a decade. An estimated 5.5 billion people have smartphones. ~70% of them use those phones for payments. From Grok: The adoption rate of LLMs has been exceptionally rapid. For instance, ChatGPT, released in November 2022, reached 100 million users in just 60 days, a milestone that highlights its explosive growth. By comparison, it took the internet 7 years to reach a similar level of global penetration, and Facebook took 4.5 years. As of 2024, LLMs have around 1 billion monthly users. LLMs, particularly ChatGPT, are widely regarded as the fastest-adopted technology in history.

FACTS: World wide Crypto adoption has just hit approximately 580 million users. That’s 6.8% of the entire world’s population. About 4% of the world owns Bitcoin. That means millions—over a third of crypto users—own something else. Altcoins. Stablecoins. AI tokens. Tokenized assets. In some parts of the world, Bitcoin isn’t even in the top 3 most held coins.

Social Security payments down -7.3%. That is the largest decline on record. Wonder why? SHORT ANSWER - FRAUD WAS ELIMINATED BY DOGE! The biggest reduction in Social Security payments happened after DOGE exposed extensive fraud, discovering that benefits were being paid to individuals who had been dead for decades. By identifying this fraud, DOGE helped safeguard the future of Social Security, potentially extending its stability until 2035 or beyond!

Congratulations Tesla.