Competition, the drive for efficiency, and continuous improvement
ultimately push businesses toward automation and later towards
autonomy. If a business can operate without human intervention, it
will minimize its operational cost. If Uber can remove the expense
of a driver with an autonomous vehicle, it will provide its service
cheaper than a competitor who can't. If an artificially intelligent
trading company can search, find, and take advantage of some
arbitrage opportunity, then it can profit where its competitors
cannot. A business that can analyze and execute in real-time
without needing to wait for a human to act, is a business that will
be able to take advantage of brief inefficiencies from other
markets or businesses. This trend following a thesis that is based
on 100 years of proven economic theory. Short-wave economic cycles,
those 5- to 10-year cycles, are driven by credit but the long-wave
economic cycles, those 50- to 60-year cycles, are driven by
technological revolution. We've had 5 cycles over the past 200
years with the last wave, the Age of Information &
Telecommunications. We've seen evidence that a new cycle has begun.
Technological revolutions come by way of a cluster of new
innovations. About a decade ago, you started to see AI, robotics
and IoT (sensors) delivering on automation. That's been powerful,
but not transformational. It does not force businesses to
fundamentally change how they do business. The last piece of the
puzzle was cryptocurrency because it allows us to process and
transfer economic value without human intervention. Soon, there
will be a global race to build autonomous operations. Businesses
and organizations without autonomous operations simply will not be
able to compete with those that do because ... autonomy is the
ultimate competitive advantage. Crypto is the mechanism that will
accrue value from being the infrastructure for the next digital
financial revolution. Crypto Asset Investing lays out a case that
we've begun a new technological revolution similar to the Internet
Age of the 1990's. Artificial intelligence, the Internet of Things,
robotics and cryptocurrency are converging to deliver on a new age,
what I call the Age of Autonomy. Understanding the transformation
that's taken place before anyone else can yield enormous investment
opportunity. In this book, you'll learn how and why to invest in
crypto assets.
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