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The traditional economy is being phased out in advanced countries that are transitioning to an internet-first economy dominated by the tech industry and digital platforms, according to Balaji Srinivasan, a former executive at crypto exchange Coinbase and the author of “The Network State.”
“The legacy economy is being sunset in favor of the Internet economy,” Srinivasan said in an X post on Saturday.
He shared a chart showing the price divergence between the “Magnificent Seven” tech stocks, which are enjoying meteoric growth, and the…
