Ship or Die at Accelerate 2025: Internet Capital Markets

Solana is set to revolutionize global finance by creating truly inclusive internet capital markets, potentially solving wealth inequality and democratizing asset ownership for anyone with a mobile phone.

Summary

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In a groundbreaking presentation at Accelerate 2025, Akshay BD of the Solana Foundation unveiled an ambitious vision for the future of finance. The talk, titled "Ship or Die at Accelerate 2025: Internet Capital Markets," highlighted the growing wealth disparity in traditional markets and proposed a solution leveraging Solana's blockchain technology.

Akshay articulated how current capital markets are failing the majority, with the American Dream becoming increasingly unattainable for many. He presented compelling data showing the widening gap between wage growth and capital returns, emphasizing the need for a new approach to asset ownership and wealth creation.

The core of the presentation focused on Solana's potential to create "internet capital markets" - a system where anyone with a mobile phone can easily invest in a wide range of assets, from local businesses to tokenized securities. This democratization of finance aims to shift the paradigm from "universal basic income" to "universal basic ownership," potentially alleviating economic tensions and creating a more equitable society.

Akshay also touched on the technical capabilities of Solana that make this vision possible, including low barriers for both investors and asset issuers, and the ability to tokenize a wide range of assets. The presentation concluded with a glimpse into a future where capital markets are as accessible and user-friendly as social media platforms are today.

Key Points:

The Problem with Current Capital Markets

Traditional capital markets are increasingly failing to serve the majority of people. Akshay presented data showing that it now takes significantly more work hours to buy a unit of the S&P 500 than it did in 1971, effectively making financial freedom more difficult to attain. Additionally, wage growth has not kept pace with capital returns, leading to a widening wealth gap between those who own assets and those who rely solely on salaries.

This disparity is reflected in declining faith in the American Dream, with only 27% of people believing it's still accessible, down from over 50% a decade ago. The situation has led to growing tensions between the labor class and the capital class, manifesting in political and cultural upheavals.

Solana's Solution: Internet Capital Markets

Solana proposes to address these issues through the creation of "internet capital markets." This concept aims to make asset ownership accessible to anyone with a mobile phone, effectively democratizing finance on a global scale. The key to this approach is reducing barriers for both investors and asset issuers.

For investors, Solana's technology allows easy access to a wide range of assets, including those traditionally confined to private markets. This could include shares in local businesses, tokenized securities, and other innovative financial products. The goal is to provide opportunities for wealth creation that have been largely unavailable to retail investors in recent years.

Democratizing Asset Issuance

On the issuer side, Solana's technology dramatically reduces the cost and complexity of making assets publicly available. Currently, it costs between $10-30 million for a company to go public, which excludes many smaller, profitable businesses from accessing public capital.

Akshay envisions a future where a local coffee shop could easily tokenize ownership shares, allowing customers to invest directly and receive dividend streams. This approach could revitalize "Main Street" businesses by giving them access to capital traditionally reserved for large corporations.

Technical Capabilities and Future Vision

Solana's blockchain provides the technological stack necessary to realize this vision of internet capital markets. It offers the ability to create and trade bearer assets digitally, similar to how cryptocurrency has made it easy for people worldwide to access US dollars.

The presentation highlighted how Solana could work in conjunction with existing financial structures, such as regional exchanges, to provide global liquidity and investor access. Akshay also touched on the potential for complex financial products, like securitized employee option pools or exotic derivatives, to be made accessible through Solana's platform.

Facts + Figures

• In 1971, it took 25 hours of median wage work to buy one unit of the S&P 500; today, it takes 195 hours.
• Only 27% of people now believe the American Dream is accessible, compared to over 50% a decade ago.
• Hourly wages as a percentage of GDP have trended downward, while the net worth of the top 1% as a percentage of GDP has increased.
• AI is predicted to be able to handle 80% of jobs in the future, potentially exacerbating wealth inequality.
• Alaska residents received an airdrop of $1,700 last year from the Alaska Permanent Fund Corporation's profits.
• 30 cents of every dollar invested in S&P 500 index funds goes into the "MAG 7" (top tech companies).
• The number of public companies has decreased by 50% over the last 20 years.
• It currently costs $10-30 million for a company to go public through traditional means.

Top quotes

"Can we build new capital markets on the internet that work for everyone?"

"Your freedom is hyperinflating."

"We propose universal basic ownership, where everybody with a mobile phone can own assets."

"Today, the only technological stack where that is possible, we think, is in crypto and more specifically, Solana."

"We're bringing back bearer assets but digitally."

"Main Street versus Wall Street. It's rather getting Main Street access to the new Internet Wall Street."

"Solana will make everyone an investor or trader over time as these productive assets in our economy trapped in private markets come onto the blockchains."

Questions Answered

What are internet capital markets?

Internet capital markets are a new financial paradigm proposed by Solana that aims to make asset ownership accessible to anyone with a mobile phone. This system would allow individuals to easily invest in a wide range of assets, from local businesses to tokenized securities, using blockchain technology. The goal is to democratize finance and create more equitable wealth distribution by reducing barriers to entry for both investors and asset issuers.

How does Solana plan to address wealth inequality?

Solana aims to address wealth inequality by promoting "universal basic ownership" instead of universal basic income. By making it easy for anyone to own and trade assets through their blockchain platform, Solana hopes to give more people access to capital gains and investment opportunities. This approach could help bridge the growing gap between wage earners and asset owners, potentially alleviating economic tensions and creating a more equitable society.

Why are traditional capital markets failing many people?

Traditional capital markets are failing many people due to several factors. First, it now takes significantly more work hours to buy into major stock indices than it did decades ago. Second, wage growth has not kept pace with capital returns, leading to a widening wealth gap. Additionally, many high-growth investment opportunities are confined to private markets, accessible only to accredited (wealthy) investors. These factors combined make it increasingly difficult for average people to build wealth through traditional means.

How could Solana's technology benefit small businesses?

Solana's technology could greatly benefit small businesses by dramatically reducing the cost and complexity of accessing public capital. In the future envisioned by Solana, a local business like a coffee shop could easily tokenize ownership shares, allowing customers and community members to invest directly. This would provide small businesses with new sources of capital and allow them to share their success with their supporters, potentially revitalizing local economies.

What are some potential use cases for Solana's internet capital markets?

Potential use cases for Solana's internet capital markets are vast. They include tokenizing shares of local businesses, creating new financial products like securitized employee option pools, enabling global trading of traditionally illiquid assets, and facilitating direct listings for companies at a fraction of the current cost. The technology could also enable innovative forms of community investment, global access to regional exchanges, and the creation of complex financial instruments that are currently only available to institutional investors.