Build your future wealth on intangibles

by Francisco Santolo
13 March 2020

The owners´dream. Our own house. Our own car. My generation grew with the mindset of achieving security by accumulating assets, or in the tangibility of real estate.

The role of assets in the new "Capitalism" has dramatically changed, and the status quo will undergo a brutal disruption. The wealth accumulated in goods, property, and machinery – with clear examples in commercial property and manufacturing plants with heavy machinery – today has a very important risk component.

Goods are losing their value faster, with technologies growing at exponential rates and production marginal costs tending to zero in the medium term.

With firm conviction about how the economy of the future will work -or especially not work-, today I choose to only own my company, suitcase, computer, and mobile phone. This detachment allows me to live and work in over 20 countries, building relationships, culture, and learning on an ongoing basis. It allows me to be flexible to change -the only "constant"- and opportunities.

Few companies understand how the economy of the future will work, they no longer cling to one industry, and their products and services convey this trend. Amazon, which reinvents itself with flexible business models, for instance, in its Motors division -yes, they also have that division-, offers monthly car rental online, with home delivery, insurance, assistance, digital contract signature and the possibility of returning the car if it is not functional to the customer.

This is just a very simple example, among thousands that anticipate the decline of possession of things, the emergence of a shared economy in more areas, and the opportunity to turn work into space for personal development, to fulfill your purpose or dreams.

So I allocate most of my money and time studying and acquiring knowledge, traveling to grow my global company, building relationships, and growing a strong community that multiplies and helps others. Nurturing myself from the power and richness of diversity and accumulating intangible wealth, which I carry with me as a source of enjoyment and empowerment, every day.

It is the same intangible wealth which, in collaboration with our community of entrepreneurs and professionals allows us to fulfill our dreams and individual goals, and enables the joint purpose of offering a legacy to the world: allowing everyone to accomplish, to make things possible.

What to read next from Francisco Santolo