Today's most valuable resource (it's not time or attention)

Summary

This script explores the evolution of the most valuable resources in human history, from space and time to attention and now perspective. It details how, as technology and the internet have advanced, attention became the key economic driver, and how we are now transitioning into the Perspective Era. In a world flooded with information, perspective — the ability to step back, curate, and understand the bigger picture — is becoming the scarcest and most valuable resource. The script introduces the concept of a 'second brain' through the CODE methodology (Capture, Organize, Distill, Express) as a system for managing the overwhelming flow of information.

Takeaways

• 😀 Space was once the most scarce resource, driving wars and territorial expansion across human history.
• 😀 With industrialization, the competition for physical resources like oil, steel, and manufacturing shaped global economies.
• 😀 The mindset of scarcity in physical resources eventually shifted to time as the most valuable resource in the 20th century.
• 😀 The rise of mass media, advertising, and consumer finance capitalized on the scarcity of time, leading to the widespread notion that 'time is money.'
• 😀 As time became more scarce, the focus of economic value shifted again, this time to human attention in the digital age.
• 😀 Companies started competing for attention, and the emergence of the 'attention economy' transformed industries, with attention becoming the new currency.
• 😀 The constant need for new content and engagement led to the rise of the 'creative class,' whose job is to capture and hold people's attention.
• 😀 Now, in the 'perspective era,' the most valuable resource is not time or attention, but perspective — the ability to discern, make sense of, and understand the world amidst the noise of information overload.
• 😀 We have moved from information scarcity to information abundance, but our psychology has not evolved to handle this constant flood of data, leading to exhaustion and overload.
• 😀 The solution to this overload is adopting the 'second brain' methodology — a systematic way to capture, organize, distill, and express knowledge in order to navigate the information-rich world more effectively.

Q & A

What was the most scarce resource in most of human history?

The most scarce resource was space. Empires and nations fought for land and the natural resources it contained.

How did the shift from scarcity of space to scarcity of time happen?

As industrialization progressed, there was a shift towards valuing time. After World War II, the middle class had disposable income but limited time, which led to industries like mass media and advertising capitalizing on this scarcity of time.

What does 'time is money' mean in the context of the post-WWII economy?

'Time is money' reflects the shift in economic value from land and physical resources to time, where people’s time became valuable as industries sought to maximize consumption during limited hours outside of work.

What is the 'attention era' and how did it emerge?

The attention era emerged with the rise of technology and the internet. In this era, human attention became the most valuable resource, leading to the creation of industries that competed for people’s attention, such as social media and digital advertising.

Why are eyeballs considered the product in the attention era?

Eyeballs are considered the product because attention is sold to advertisers, and a company can be losing money yet still have a high valuation due to its ability to capture and monetize attention.

What signs indicate that the attention era is coming to a close?

The signs include information overload and the constant pressure to consume content. People feel overwhelmed by the sheer amount of content and notifications, leading to a shift towards a new era: the perspective era.

What is the 'perspective era' and why is it important?

The perspective era is the shift where the most valuable resource is perspective—having a clear, holistic point of view. In this era, people are seeking clarity and wisdom amidst the overwhelming flow of information.

How does our psychology impact our relationship with information abundance?

Our psychology evolved for information scarcity, so we react to the constant flood of information with anxiety and stress. The rapid shift from scarcity to abundance leaves us perpetually exhausted and struggling to keep up.

What is the 'second brain' concept and how does it relate to managing information?

The 'second brain' concept refers to a system for capturing, organizing, distilling, and expressing information to help manage the overwhelming amount of content we encounter. It’s about being more intentional and systematic in how we store and utilize knowledge.

What are the four steps of the creative process outlined in the 'CODE' methodology?

The four steps of the creative process in the 'CODE' methodology are Capture (saving insights and ideas), Organize (sorting and structuring them), Distill (condensing them to their essential form), and Express (sharing the final work or output).