Bitcoin Is the Life Raft for the K-Shaped Economy | Peter St. Onge

<p>Bitcoin is the life raft for a K-shaped economy that keeps rewarding the people already at the top, says Peter St. Onge. Jackson sits down with the Heritage Foundation economist on why AI is a bubble that&#39;s only at 1997, why the jobs panic is wrong, and who actually gets rich.</p><p><br></p><p>Guest: Peter St. Onge, Senior Economist at The Heritage Foundation</p><p>X: https://x.com/profstonge</p><p>Newsletter / Website: https://peterstonge.com/</p><p><br></p><p>BOOK A CONSULTATION</p><p>Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd&#39;s of London. Speak with our team to see if it fits.</p><p>👉 https://go.onrampbitcoin.com/consult-tlt-pod</p><p><br></p><p>GET ON THE LIST</p><p>Our research, event invites, and the week&#39;s Bitcoin news in one free email.</p><p>📩 https://go.onrampbitcoin.com/research-tlt-pod</p><p><br></p><p>ABOUT THIS EPISODE</p><p>Peter St. Onge went all in on Yahoo in 1996, retired at 25, and lost most of it when the dot-com crash took MicroStrategy, one of his biggest holdings, down more than 90%. His read on AI comes from that seat. Yes, it is a bubble, but demand for tokens looks close to unlimited, so he places AI around 1997, not 2000. He argues the AI doom narrative is astroturfed and that the jobs panic is 10,000 years old: productivity raises demand, and work shifts to trades, makers and services that pay more. The catch is the K-shaped economy. Money printing and a bloated administrative state lift the top and chain the bottom, so technology has to outrun the state. He closes on Bitcoin as the insurance and the life raft for when the system eventually breaks.</p><p><br></p><p>CHAPTERS</p><p>00:00 - Why the System Favors the Top</p><p>00:39 - Peter St. Onge Joins Jackson</p><p>02:31 - Going All In on Yahoo in 1996</p><p>04:56 - The Dot-Com Crash and MicroStrategy&#39;s 92% Drop</p><p>06:15 - Flashpacking and the Early Bitcoiner Parallel</p><p>08:35 - Why AI Will Be Bigger Than the Internet</p><p>11:30 - What Happens When We Outsource Thinking to AI</p><p>15:50 - Is AI a Dot-Com Style Bubble?</p><p>22:09 - Why AI Is at 1997, Not 2000</p><p>24:27 - Who Is Behind the AI Doom Narrative</p><p>28:47 - Why AI Risk Is a Reason to Go Faster</p><p>32:39 - Which Jobs AI Is Actually Replacing</p><p>34:58 - Why Productivity Creates More