The dollar is tanking, companies are downsizing while AI is moving in, banks are closing left and right, and I still believe we happen to live in the era where it is easier to create wealth than any other time in humanity's recorded history. Even though the wealth gap is widening, it is now easier to get on the right side of the equation than ever before. How you might ask?
We are now, without question, in the most permission-less phase of society we have ever been in. What used to be a world full of gatekeepers is now a new paradigm of open doors. Before this current technology age we live in, the opportunity to go from low or middle-class to wealthy was very slim.
Coming from a typical home generally meant lack of economic opportunity, educational resources, networking resources, and the ability to create products/services. We can go back as far as the agricultural age. Your family either owned land or didn't...not a lot options for prosperity. Or how about the industrial age, when your family either owned the machines or not.
Even more recently in what some call the information age (Web1.0 & Web2.0), wealth was more accessible but the flow of data was still controlled and the technology to distribute info, products, and services was limited.
We are fresh out of an environment where you had to impress an A&R or someone who could get your music on the radio to generate income from music. Where writing a book meant nothing economically if you didn't find a publisher. Where the only way to get your product or service in front of a multitude of people simultaneously was to plan & host a live seminar or pay an arm and leg for an infomercial spot.
To become "new rich", you had to know people in high places to be blessed with an opportunity, or be chosen by people in high places because you had a chance to display your talent/skill.
This is far from the case today. Our ability to increase our knowledge base, exercise that increase with our creativity, produce and distribute those creations, collaborate with other brands, and exchange monetary value is available to anyone who has access to a PC or mobile device.
Knowledge/Education
Even though we have already experienced the information age, knowledge today is literally at our fingertips, in an instant. Any field of study, discipline, philosophy, mental framework, etc., can be accessed online, and in many cases, for free. Things are moving so fast that the traditional education system can't even keep up and are usually teaching outdated information. Platforms like Khan Academy, edX, and of course YouTube offer endless educational content for those that are looking. Not only that, the individuals that are successful in those fields are much more accessible than before. More on that when I get into networking.
Production
Having all this new knowledge is great, but it doesn't do anything for wealth creation if you can't bring it into fruition. Luckily we now have the ability to produce products, services, and content with little to no barrier to entry. With innovations like print-on-demand clothing & accessories, podcasting, eBooks, and dropshipping, there isn't much standing in your way to move things from the mental to the physical/digital.
Networking/Strategic Partnerships
Nowadays more networking takes place online than anywhere. Between social media applications and community platforms like Discord, Patreon, Telegram, etc., its easier to a) get in front of the right people, b) get in front of enough people, and c) build up your community. Before even mentioning Web3, I have to acknowledge how entrepreneurs of today are able to partner directly with huge corporations like Amazon (to sell products), Apple (to sell applications), Spotify (to sell music)
Exchanging Value
With the recent advancements in blockchain and fintech, value exchange transcends the traditional gatekeepers. Individuals can leverage technology like cryptocurrencies and decentralized finance (DeFi) to directly send and receive payments. Also, crowdfunding platforms empower businesses to raise capital from the public, while barter networks and alternative currencies facilitate local exchange independent of mainstream financial systems.
Social media and online marketplaces allow individuals to sell their goods and services directly to consumers. This shift towards p2p transactions and autonomous value exchange empowers individuals and promotes a more open, globally connected economic landscape. It also brings new challenges around trust, security, and regulation that we need to address collectively.
The world's changing! We can now pursue our passions - music, writing, business - without waiting for permission. This is great, but also comes with challenges like fake news and unequal access. Let's use this freedom wisely, think critically, and build a future where everyone can thrive, permission-free.
The odd polarity of it all is its harder to make a living but its easier to get rich.