When creating the future through technology, I always believe that academic research and historical considerations must be considered along with technological progress in order to be useful. This is a way of thinking that I can say is my identity, considering my position as a technology entrepreneur and investor with a specialty in economics, and I also believe that this is what makes me unique.

What are the possibilities and future of the Web3 world? I have tried to examine the possibilities and future of the Web3 world and what will be necessary to make that future better, including from an economics standpoint. It is composed of the following three parts.

(You can read it in 10 minutes, so please do it all at once!)

Part 1: Will hyper-commercialized capitalism stop?
Part 2: Can Capitalism Evolve?
Part 3: The Potential of Web3

Part 1: Will Hyper commercialized Capitalism Stop?

To begin with, globalism emerged in the second half of the 20th century, accelerating hyper commercialized capitalism to become the world's mainstay system. While there is no doubt about this, the world is facing widening disparities and problems. To be precise, it has made the middle class of the developed countries the poorest, and Japan, which has fallen prey to this system, has spent the lost 30 years and is getting poorer by the day.

The famous Elephant Curve, which shows the transition of income distribution, is easy to understand.

Even in the United States, the leader of liberal capitalism, problems are erupting and the situation is very unstable, and there are widespread calls for a return to socialism, especially among the younger and poorer generations.

This is a natural indignation. We are fed up with inequality.

Let's get rid of capitalism.

This is nothing but idolatrous idealism.

There is no other alternative but capitalism.

This is my conclusion.

After experimenting with various alternatives, humanity has ended up with hyper-commercialized capitalism, which has significantly improved the average human standard of living.

To abandon capitalism is to slow down technological progress and lose various advantages (goods and services).

History has proven that it is impossible to abandon capitalism and retain these advantages while successfully transitioning to authoritarianism, socialism, or even communism.

”No, it will work because Japan is a gentle people and not obsessed with money.”

This is either a popularity contest or the nonsense of well being believers.

If Japan abandons capitalism and becomes poor, the first thing that will happen is that money will run out. Second, rich foreign countries will come in and buy up all the land and property in Japan, destroying Japan's culture and history as well.

The situation is easy to understand if we look at Italy today. The beauty of Italy and its cities are being taken over by Americans, Chinese, and other wealthy foreigners. The beauty of Italy is no longer something to be enjoyed by its original inhabitants.

One way to avoid hyper-commercialized capitalism is to completely isolate oneself from the rest of the world. To do so, we need to become completely self-sufficient. However, this is an impossible task for Japan, where food self-sufficiency is less than 40% and energy imports account for nearly 90% of the nation's total.

Whenever I talk about this, I always say.

"Japan cannot and should not become Bhutan.

Thinking a country with a population of less than 800,000, where most of the people are engaged in agriculture, and a developed country, Japan, with a population of over 120 million, same is too irresponsible for the future.

Yes, hyper-commercialized capitalism will not stop. It is irreversible.

In case you want to learn about this area of economy intensively in book form, we recommend this book. "Capitalism Alone" by Branko Milanovic

Part 2: Can Capitalism Evolve?

So, can we evolve this hyper-commercialized capitalism? I would like to think about this.

While it is true that there is no other option, the question is not whether the status quo is the best option at all.

The answer is "yes".

However, the reality is that the private sector cannot do it.

The reality is that it cannot be done by the private sector.

The answer is that it will be a political matter for governments.

ESG and decarbonization are ultimately nothing more than a means for the private sector to make money and increase the value of its shares.

In the end, the private sector will not be able to establish an incentive structure that abandons the pursuit of profit.

Since it is capitalism, it is natural to want to increase capital.

Consider the prisoner's dilemma in the buying frenzy.

If the gains are higher for those who cooperate, but the deviant gains, then they cannot cooperate.

So what are the political ways in which we can aim to reduce inequality and raise incomes, and I refer you to Branko Milanovic's opinion:

1. Tax cuts on the financial and housing assets of the middle class. Raise taxes on the wealthy and raise inheritance taxes (in response to the rising capital/labor income ratio. (A response to the current situation where the haves are getting richer and the have-nots are getting poorer.)

2. Free public education and health care (to increase intergenerational mobility of the middle class and poor)

3. To address the immigration issue, create a citizen's premium tier between citizens and immigrants)
   (Balancing the protection of our own citizens with immigration in the global era)

4. Limit political funding from the wealthy.
   (to eradicate the influence of the elite class on political power, thereby making it possible to implement policies that are disadvantageous to the wealthy).

(We will not go into details, including analysis.)

It is certainly a policy that all fits together, but there is also a sense of despair that we, as private citizens, can do nothing about it and there is nothing to do.

Part 3: The Potential of Web3

Let us consider Web3 from here.

I myself am very excited about the possibility that Web3 may be something that can evolve this hyper-commercialized capitalism through the power of private-sector technology.

When I was 33 years, I have dropped out of the super-capitalism.
Discouraged by a world where profit was the only measure of success, I took a leap of faith and found something else to enjoy.

In fact, as a minimalist with little material greed, it felt strange to me.

On the other hand, I have been contemplating whether it is possible to show the next form of this unshakable system while not giving up and winning.

Never run away, but win. In other words, I have been hoping to evolve this system while winning the game of capital acquisition.

And now I feel that the possibility of an evolutionary system of popular capitalism has finally emerged.

The ultimate goal of capitalism is to increase the "income" of all people, "distribute wealth" (i.e., reduce disparities), and "achieve this goal while enhancing a sense of well-being.

The gig economy in Web2 has commercialized individual leisure time and contributed to income growth, but the problem is the concentration of profits in the hands of platform providers, the obsolescence of business content, and the commoditization of human beings. This is one-sided.

Consider the NFT, one of the worldviews of Web3

In fact, the take rate of OpenSea, the world's largest NFT platform, is around 2.5%, which is significantly lower than that of Web2 platforms. There is no doubt that this is a process that makes people happy.

In the GameFi world, Play to Earn is becoming all the rage. I think the world has become a great place to earn income while playing.

DAO is a thrust-oriented story, and the more you contribute while enthusiastic, the more you contribute, the more you may be rewarded back to yourself.

The point is that while there is no alternative system to hyper-commercialized capitalism, an evolved capitalism that is extremely rational and compatible with human nature is emerging as a possibility through democratic technology. Even within global capitalism, a means for the middle class in developed countries to raise their incomes has emerged. This story encompasses the following.

The labor force in developed countries, which has failed to benefit from the global system among nations and has been miserably defeated by the labor force of the global South, has an excellent opportunity to commodify itself and to raise its income through leisure and creativity.

Another world that transcends the framework of nations is being born.

The purpose of human life is to feel happiness, and the main way to achieve this is to "create.

I will not go into details, but if you want to learn more about this area, I recommend you study aesthetics.

Reference books are here. "Invitation to Aesthetics" by Kenichi Sasaki

"Creators Economy" - An Economy that Circulates While Creating

How wonderful!

However, the problem here again is that the private sector is uncontrollable and repeatedly maximizes capital. It is highly likely that the private sector will change the world of Web3 into a speculative world, creating a bubble that will ultimately accelerate the concentration of wealth among founders and venture capitalists.

Here, a government response of deregulation of Web3 and implementation of effective regulations is surely required.

Web3 is not a cure-all. The number of people who can make money in GameFi is still quite limited.

In conclusion, the difficulty and dilemma of how to act as a venture capitalist is that there is a fear that Web3 will become just another bull shit.

However, the excitement of creating an industry under evolved capitalism is definitely greater, and I have no doubt that technology will advance mankind, and I believe that only the things I believe in will come true.

While I take global hyper-commercialized capitalism seriously, I cherish the opportunity I may have to contribute to the realization of popular capitalism and the increase of human happiness.