The Marriage of Wall Street and Silicon Valley Will Continue
One trend that is happening but not many understand is the merger of silicon valley and Wall Street firms. This everlasting union is taking place in two areas; banking ad real estate.
Let’s back up and break this down.
We live in a world today where new options to obtain debit cards have arrived. Further taking away the need for cash and regular banking. From Robinhood to Cash App Debit Card, these fintech companies have partnered with banks to issue public baking solutions and payment processing cards.
As time goes along new platforms will create more apps that will offer lending services to consumers. This helps traditional banks get some skin in the fintech/Defi game.
Commercial real estate will be converted into residential for elites. Imagine corporate hubs such as Wall Street in Manhattan and Upper Wacker Drive In Chicago converted into living and playing spaces for the new tech elites.
As corporate commercial real estate gets destroyed in hubs like NYC due to remote working, Silicon Valley is going to swoop in and buy up these properties and build a “Second Valley” in major metropolitan corporate hubs.
As this demographic moves out of the tech hubs and into rural America and the tropics of Hawaii, major city hubs will continue to decline in property values. In an attempt to save their cities, local governments will institute favorable laws for the next phase.
Eccentric techies will bring their income and ideology where ever they relocate to. These individuals vote with their wallets and will push for progressive legislation to be passed.
These “Emerald Cities”, or places that poor people won’t be allowed in, will serve as the model for the rest of the world to follow. Some elites will continue to move into Puerto Rico and other tax havens which will cause local governments to push for changing tax laws.
The bottom-line is every single industry we know will disappear and become sectors of the tech industry. As time goes on more disruption will come to society to which we will have to adapt to.