At @class_lambda and our holding company Ergodic, our thesis is simple: total debt increases monotonically over time.

Meanwhile, productivity, science, and technology advance, but only in select domains.

The bulk of debt is repaid through taxation on the general population via inflation or higher taxes, while wealth among founders and the technocratic elite compounds at a far faster rate. Then inequality rises.

That’s also why some of the safest bets lie in companies selling status, experiences, and luxury goods, products that thrive in a stratified society.

Our capital flows into:

- Gold, Bitcoin, and Ethereum (hard, non-dilutable assets)

- Early-stage high-growth deep tech companies

- Firms producing luxury and symbolic goods