Good morning, I’m just back from the Aspen Ideas Festival, where I had an opportunity to speak with so many thought-provoking leaders about how they’re navigating this climate. I’ll share some of those insights later this week. For today, I want to highlight a conversation I had with noted economist Nouriel Roubini, Carlyle Group co-founder and co-chair David Rubenstein and Arjun Sethi, co-CEO of the crypto exchange Kraken. The topic: What wealth will look like tomorrow.
Roubini (known as Dr. Doom for predicting the financial crisis), has more recently become Dr. Boom for his view that a tech-driven renaissance for the U.S. economy will ultimately lead to 8% GDP growth. “I’m a contrarian,” he said, noting that technological drivers of innovation working in America’s favor right may also create job losses that may necessitate a universal basic income.
Rubenstein talked about this country’s mounting debt and the strength of the dollar, while being bullish on the European defense sector and the longevity economy. “In the future, we’re not going to measure people’s wealth by how much money they have.” Rather, he said, wealth will be measured by the length and health of one’s life. “In 10 or 20 years, we will be able to tell you how long you’re likely to live,” he said.
Sethi talked about the democratization of access to capital and trading through crypto and the continued challenge of regulation in building products and getting things done. “If you were to go to China and build a robot, it would take less than six months. Whereas it could take two years in the U.S.,” said Sethi, who has the number of seconds in a day tattooed on his forearm. “I am playing our lawyers more than anyone else.” You can watch our full conversation here.
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This story was originally featured on Fortune.com
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