Johnathan Bi Capital is Cheap, This is The Last Scarce Resource | USV’s Albert Wenger
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Nov 23, 2025 
Albert Wenger, a partner at Union Square Ventures and author of 'The World After Capital', dives into the philosophical underpinnings of technology and societal transitions. He argues that attention is the new scarce resource and emphasizes the need for moral progress alongside tech innovation. Discussing privacy, AI, and the implications of Universal Basic Income, Wenger believes society must reclaim attention from social media's misallocations. He critiques existing markets and advocates for a blend of government and entrepreneurial efforts to foster an ethically informed future.
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Progress Amplifies Destruction Risk
- Technological progress increases destructive power faster than constructive ability due to atomic arrangement asymmetry.
- That imbalance makes privacy incompatible with rapid, permissionless innovation without heavy state control.
Moral Progress Is Non-Negotiable
- Technological progress without moral progress risks destruction; moral progress is urgent.
- We must converge on a universal moral core to survive advanced technologies.
No Global Brake, But Agency Matters
- A brake on technology isn't available because market and geopolitical forces push rapid innovation.
- Optimism means believing problems are solvable, not that harms won't occur.
