Things That Make Me Go Hmmm

Warning! What I’m about to share is dangerous—not dangerous per se but rather for what it implies and, more importantly, because it is threatening to basically all of the most powerful people and organizations on planet Earth. I share these thoughts with you with some trepidation…. 

I know what you are all thinking: “Nick is finally going to weigh on this whole Epstein thing!”

Well…no! As interesting as that may be, that’s not what this article is about. Today, we are talking about far more serious matters, things actually relevant to your pursuit of wealth and purpose!

Let’s get into it. 

1. Market dynamics in the AI world are starting to look suspicious.

In fact, conditions are eerily resembling those of the first tech bubble, which burst 25 years ago or so and caused a whole bunch of damage to our economy. Everyone knows (or should!) about the concentration issue—i.e. the big AI stocks account for almost all of the stock market gains of the last few years—but it’s the circularity that I find troubling. 

These companies are basically trading money around in huge numbers—investing in each other and signing opaque multi-year service contracts back and forth.  It’s so confusing that it’s hard to know what revenue is real and what is not.  This, by the way, is exactly what Enron was doing and what the crypto fraudsters were doing during the 2022 crypto bubble.

Anyway, I wanted to highlight this for you all just to keep on your radars.  I don’t know for sure that this is a bubble and I certainly don’t know what is going to happen next.  But I know this: if the AI market crashes, we are going to get a nasty recession and political conditions will deteriorate even further down the wrong path.   

2. The global elite is absolutely petrified right now but not for the reasons you might think.

One of the most exciting things about the technological revolution of the last few decades is that we have finally created the infrastructure for widespread financial ownership. For the first time in human history, it’s possible to build an economy where literally everyone can have a legitimate opportunity to participate in the true spoils of capitalism. Ownership, once the private playground of the ultra-elite, is now open for everyone.

This is fantastic news, right? Yes, but there’s one small problem: this development is also a threat for those at the top and they know it.

You will hear the global elite celebrate this much needed progress in public: “Look at us! We’ve democratized finance at last!” But in private, they are petrified of their own creation and whispering amongst themselves “Oh wait, we’ve democratized finance and now everyone can own and not just us….ummm….oooops. Wait, why did we do that again?”

I share this because it’s helpful in interpreting the often-disheartening behavior of the global elite. Realizing that the age-old game of traditional capitalism (restricting access to ownership) is up, they are now holding on to positions of power for dear life and/or seeking to extract the maximum possible benefit from their current situation. You can see this playing out in everything from the bizarre economic positions of our political parties to extractive boardroom antics to the strange political resistance to leveling the financial playing field.

This is something worth both paying attention to and also fighting against. A more inclusive capitalism is the key to preserving freedom in the world! 

3. Politicians around the world are grasping for more power because they have realized there’s a new and dangerous threat on the scene.

The rise of political autocracy is often thought of in purely political terms but that is not the whole story here. We’ve been busy focusing on things like the impact of the Internet and social media on the news and the perception of truth, the politicization of the justice system, and the willingness of governments to use technology to control their citizens. And we are right to be worried about such things. But we’ve missed a rather scary problem emerging at the same time: the corporations are out of control and represent a real threat to governmental power. 

It's no secret that we live in an era of unprecedented corporate power. We’ve got companies worth trillions and sitting on cash piles larger than many countries fiscal coffers. Some global juggernauts have become more powerful economically and culturally even than many nations and states. And because these corporations have so many masters, they feel beholden to no one. Who exactly is Microsoft or Meta accountable to? And don’t say “their shareholders” because we all know that is a joke. Just how can Congress or even the President get Apple to do what they want it to do? It’s just not so easy.

These multi-national companies operate in almost every country in the world (all 195 of them in some cases), have employees and property everywhere, and earn money everywhere. They may be American in name but they have interests that are vastly different than our own and they are willing to pursue them unabashedly. 

As it turns out, corporations are after the same thing as governments: money and power. And now that we live in a globalized world, they are finding themselves with important seats at the power table—but because no one is willing to admit the truth, everyone is acting like they are not even there! Meanwhile, they are out making moves and amassing resources and influence left and right.

While I don’t agree at all with the impulse to grasp for more autocratic power, I understand why the politicians are scared. There’s a vast, amorphous, hard to control locus of power out there and it’s not exactly on our side! Figuring out how to deal with this unrecognized power is one of our most important collective challenges.      

I have been overwhelmed by all the positive feedback I got from you all in response to my latest Westward Homes update. Not only did I get a ton of interest from Profit+ readers in participating in our investments but also, so many of you reached out with encouragement, kind words, and support. I feel so honored and grateful to have readers and supporters like you all. Thank you for being here!