Our vision is creating a future where people don't have to work and machines pay humans. Allowing everyone to follow their passion(s) and not waste 40% of their time on earth in an office or working a job they do not enjoy.
How? by decentralising the machine economy and enabling profiting from machine labour.
What does that mean? The ultra rich don't have to work to make money. We want to make this possible for the other 99.99% of the world.
Why? They have others do it for them and hold investments that deliver continuous returns. But they are realising there is the biggest shift in human history underway. Machines are replacing humans in the workforce. Machines can do the job and pay their owners just like investments. This knocks out 2 birds with one stone because machines don't get sick, can work around the clock, have minimum maintenance costs because they do not need to eat, be clothed, or desire lavish material items unlike humans.
The ultra-rich are investing in machines instead of humans now. We cannot let them be the sole owners of machines. We believe in a hybrid financial and contribution based value system. MyBit Go offers opportunities for those without investment capital to still develop and ownership stake in the machine economy through the asset manager role.
Background and Mission
In the current day, jobs across all industries are beginning to be automated by advanced machinery and tools. This is happening today, right beneath our feet.
When machinery that automates human jobs is owned by small groups of people and large funds or corporations it creates a society where very few people can build wealth and attain financial freedom. When many people no longer have jobs, and all the costs for the services they consume flow to a small amount of ultra-rich humans it creates a society none of us want to live in, where it is difficult to have a secure financial situation.
Additionally, their is a trend of sharing instead of owning assets. Business models such as Uber, DriveNow, AirBnB, and countless others enable people to utilise assets conveniently without having to invest in owning and maintaining them. This is a create transition for optimising efficiency and reducing environmental impact.
For example, many assets such as cars are only used a few hours per day per person and the remainder of the time they are sitting idle, unused. This creates extreme waste. It consumes unnecessary capital of consumers - why pay for 24 hours per day (when you have full ownership) for something you only use on an average of 2 hours? This also creates production waste which has a vastly negative environmental impact. When people only pay for usage, it optimises costs and environmental impacts and is a great step forward for society.
However, ownership needs to be addressed. Who actually owns these "shared" assets. Normally it is a large corporation or Fund that owns a majority, if not all, of these assets. This has negative effects on income disparity. It is important for people to own things and build wealth, otherwise they are only consuming and money flows to the 1% of the 1% who own all of the assets. It's a new age monopoly and it is incredibly dangerous for society, specifically around income disparity and free market business practices where consumers dictate the price. Instead once, monopolised these large centralised organisations have control over costs and can begin separating the average person from their hard-earned money at record levels. This is NOT good.
With the machine and sharing economy on the rise, it is important to understand ownership. As jobs are automated, we do not want the 1% of the 1% to own all of the machines and income disparity to rise at record levels.
MyBit Go has a vision to decentralises the machine economy and makes it easy for anyone to invest and own a stake in it. So instead of a few people owning all of the machines, anyone can own a percentage of a machine asset.
The decentralisation of the machine and sharing economy is great on two levels. First, it prevents monopolisation and unfair price-setting by large corporations and funds. Second, it provides revenue streams for the average person whose job may have been automated. So instead of 1 company owning a fleet of cars, the fleet can be owned by thousands of regular people who all profit when they are used and in theory, they should be able to use the services for free and slowly build wealth.
If someone normally spends CHF 500 per month on car sharing rentals, under the current day model they are losing CHF 500 in wealth per month. If instead, they could own a portion of some of the assets (cars), and generated CHF 750 per month from that, they could travel for free and re-invest CHF 250 per month in increasing their ownership stake in the assets so they come ahead positive each month with more wealth than the previous month. This is the trend we are trying to create with MyBit Go. Where the average person has accessible and equal options to build wealth as the 1% of the 1%.