Ryan Sean Adams

Yes.

It destroys the seventh wonder of the world, which is like compounding gains.

God knows if you're some kind of a startup and you have some sort of paper wealth, you basically lose your company.

Right.

Yeah.

Yeah.

and you pay on that 2,500 unrealized gains, it's just going to lead to a lot of citizens who just are like, screw that, I'm not going to report.

So you force citizens into a noncompliance breaking the law position.

The state has to have a ledger of all assets, everything like anybody owns across the society.

Capital flees out of it.

You probably lose a lot more than you gain from any upside in revenue.

It's kind of a bad policy.

Yes.

Lots of takes about this.

In fact, I kind of want to explore in a future Bankless episode because I do think it's coming to more Western countries.

Even California is proposing a wealth tax now.

Oh, no.

Not quite the severe, but something at some level like it.

So it's a trend we have to explore, particularly as we get into the debt crisis that Ray Dalio has been predicting for a long time.

David, you want to hear about this autonomous life project?