The fiat standard has brought with it a corruption of how humans interact with capital. Easy money has made the practice of capital misallocation commonplace and created a business environment of zombie companies focused on revenues instead of profits and productivity growth. As the world begins its transition to a bitcoin standard it is going to be imperative that individuals and companies alike begin approaching how they view capital, how it should be deployed, and how profits should be reinvested. Allen Farrington joins the show to discuss Axiom and a new essay they produced called, Capital in the 21st Century.

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Check out Capital in the 21st Century

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Timestamps

5:30 - Introducing Axiom
9:43 - Cost of capital
14:26 - Debt is not universally bad
16:59 - Capital as a tool
18:51 - The goal of capital allocation
22:13 - Affecting individual savings
26:06 - Capital flowchart and long term thinking
37:18 - Bitcoin doesn’t allow fiat games
44:47 - Bitcoin mining illustrating the point
58:09 - Impact of lightning’s instant settlement
1:06:26 - Building a long term company
1:14:46 - Temperance during the boom
1:18:46 - Liquid BTC
1:27:28 - Axiom and further upcoming writing
1:41:04 - Wrapping up

Transcript