GOAT inflection point
The discovery of fire was a flicker in the darkness which gave warmth from the cold nights and helped satiate our desperate hunger for meat which we could now eat without fear of parasites or diseases. It was a spark, a beginning. From that initial invention, a cascade of innovations followed, unlocking the ability to enjoy novel food recipes, travel at night, even communicate long distances using smoke signals. Each new discovery, a stepping stone leading to the next and each innovation unlocking greater and gteater possibilities.
Fast forward thousands of years, the transistor a tiny, semiconductor device, was another such spark. It revolutionized electronics, paving the way for computers, smartphones, satellites, handheld radios and so many more! And with each new technological leap, the possibilities expanded, the horizons broadened.
It's a chain reaction, a domino effect. One invention unlocks the potential for countless others. The more we know, the more we can create. The more we create, the more we learn. It's a cycle of discovery, a dance between ingenuity and necessity.
What's an inflection point and are we in one right now?
In his very insightful book Pattern Breakers, author & investor Mike Maples Jr. defines an inflection point as a point in time when an invention or technology is made and it opens new possibilities .
For example, when smartphones got the ability to use GPS, that opened up so many possibilities because you could communicate your location. That opened things up for ride-sharing. That opened things up for food delivery and for groceries. That even opened things up for exploring new places because you have less fear of getting lost because now you have better directions and limitless maps.
In my book, I describe how Synthetic Intelligence (SI) & blockchain will allow us to marry emotional currency and material currency. This is history-changing because that would align incentives so pro-social behavior and accumulation of material goods are the same. In other words, social & material wealth would be two sides of the same coin. It would be a win-win situation for humanity!
But first we have to lock down SI & blockchain (which I describe in my book).
GOAT inflection point visualized
To really drive the point home, let’s use pictures.
But first, I want to define what money is. Money is a promise. Under the status quo, the creation and accounting of money is limited to relatively easy quantifiable things e.g. man-hours or pounds of sugar. Post-inflection, we can quantify ALL behavior toward our fellow humans. For example, compliments made, bruises kissed, poems written, songs sung, laughters induced, so many things we do to and for eachother to build bonds! SI will allow us to have a rich life in every sense of the word!
As I mentioned, the inflection point of SI and quantum physics-hardened blockchain, unlock the possibilty to upgrade our currency: marry social currency with material currency. To do that, we will have to drastically reimagine the 3 fundamental aspects of currency which are:
a medium of exchange
a unit of account,
and a store of value.
Lets briefly look at each using visuals to make it easier to accept/imagine/understand a post-inflection reality.
1.Medium of exchange
Status quo. For most of human history, we exchanged precious metal then paper, now more and more electronically. Currency serves as a universally accepted means of payment for goods and services. It eliminates the need for barter, where individuals would have to exchange goods directly, which can be inefficient and inconvenient.
Post inflection. In my book, I describe what make a person wealthy socially, emotionally , and financially. Briefly, its pro-social behavior like something as mundane as a smile to discovering cures to diseases. Can you think of all the behaviors that strengthen human bonds?
2.Unit of account
Sttus quo. We rely the might of the government and trust to keep accurate records of currency. Currency provides a standard measurement for the value of goods and services. Prices are expressed in terms of the currency, allowing for easy comparison and evaluation. This standardization simplifies economic transactions and facilitates trade.
Post inflection. With tireless, near infinitely meticulous SI it will be possible to quantify behavior. I assume we lock down blockchain technology with quantum physics adding near-uncrackable privacy.
3.Store of value
Status quo. Currency can be held and saved for future use. The wealthy store their money in tangible assets: property, shares in companies, art, etc. It provides a way to preserve wealth over time.
Post inflection. Since SI will make gooods & service essentially free (initial & margin), the other thing to value are once-intangible things: trust, loyalty, risk-taking, fortitude, creativity, acceptance, compassion, generosity, nearly all things that create and strengthen what our species value so much: human connection.
Conclusion
I normally don’t use these many superlatives in my daily life, but writing this book and thinking about this, I couldnt help but be overwhelmed by the staggering implications. I hope you join me in spreading the word. Buy my book ;)
