A speaker argues against holding gold or Bitcoin, calling them unproductive. He favors broad index funds as a bet on market superintelligence, plus startup investments to keep some control over where his money goes.
Chapters
this is not investment advice. I don't hold gold. It's an unproductive asset. It's just not interesting. If we really are in the singularity, as I claim that we are, why on earth would I want to hold gold or Bitcoin? I just don't understand how they're productive assets. What do you hold, Alex? On the one hand, index funds, fundamentally betting that the market is a better allocator of assets, at least among public securities, than any individual can be. It's basically a bet on superintelligence. And then the other end of the barbell distribution Distribution Equity and Startups, where I hold material agency.