global liquidity changed everything

the internet created global liquidity in everything. this includes talent markets, jobs, dating, attention, & status among many other things. this is the single most under realized structural change of the last 20 years. almost no one understands this well.

what this means practically is that whatever you're pursuing, you're now competing in a pool that's orders of magnitude larger than any previous generation faced. the distribution of outcomes gets fatter on both tails & the middle hollows out. you either benefit from the expanded opportunity set or you get crushed by it.

the people who thrive in liquid markets are the ones who figure out which game is still inefficiently priced & get there first. but these windows close faster than ever before.