March 10, 2015
San Juan, Puerto Rico
Last night I had the distinct pleasure of addressing a group of distinguished investors who are traveling together at sea for the next week or so on a special retreat.
The boat was docked in San Juan for the evening, and I flew halfway across the world to specifically meet with them.
I seldom speak at events, and my team and I typically turn down every request we receive. But I made a special exception in this case given the caliber of the group. And I’m glad I did—it was a hell of an evening.
I’m off to Panama in a couple of hours after I meet with a local attorney here to discuss Puerto Rico’s incredibly attractive tax incentives, and then I’ll be in Curaçao later this week.
It’s been a real whirlwind of travel lately… but totally worth it. And I wanted to share a piece of it with you today before I head out to the airport.
My remarks last night were about what’s happening in the world—the huge trends that are shaping both the present and the future.
The dominant superpower in the world is changing. Debilitated by an untenable debt position that the government itself estimates at nearly $60 TRILLION. The US is rapidly losing its economic superpower status.
Moreover, the US dollar-denominated global financial system is changing. Led by China, the rest of the world is quickly lining up to back a new system that takes the power away from the United States.
And given the massive impact of the digital age, even the way that we organize ourselves as a society is changing.
We no longer need to live in the same place as our co-workers or customers. We can develop meaningful relationships with people on the other side of the planet, and stay in touch with friends and family who live far away.
This isn’t the first time the world has seen these changes. History is generous with examples of once great empires that have fallen… reserve currencies that have been abandoned… and radical changes in the way that societies are organized.
History also shows that these changes are rarely smooth or peaceful.
Last night in my remarks we went back in time in an effort to look into the future and understand what will likely happen… and what we can do about it now.
(Curiously my remarks started with a 16th-century sex orgy. But you’d be surprised how applicable it is for today…)