Paolo, you’ve said we’ve traded social capital for speculative markets—can you elaborate?

What I’m saying is that we’ve shifted our focus from social capital—from investing in people, communities, relationships, and shared goals—to a culture obsessed with financial speculation. The problem isn’t just that more people are investing; it’s that technology has made it so easy for anyone to jump into the speculative markets from their own home. Instead of stepping outside, engaging with real people, and investing in the community around them, people are being drawn into a world of screens and stock tickers, where “success” becomes about watching numbers on a screen go up or down.

Think about it: social capital used to be a key measure of wealth. Investing in social capital means building networks, creating bonds, contributing to the community, and understanding that success isn’t just personal—it's collective. Strong communities, healthy connections, and shared experiences were once valued assets. People would invest their time, energy, and resources in making their neighborhoods better, supporting local businesses, or helping each other out. Social capital made us stronger, more resilient, and better connected.

But now, we’ve shifted to a model where financial gain is prioritized above all else. With technology enabling 24/7 access to markets, people are sucked into the allure of making a quick profit. It’s created a world where the thrill of a stock’s rise or a crypto coin’s sudden value spike can make us feel like we’re winning—while in reality, we’re isolated and disconnected from the human experience. And this isn’t just happening to a financial elite anymore; anyone with a smartphone and internet access can get wrapped up in the speculative markets. Technology has opened up the financial world, but it’s also encouraged us to withdraw from the real one.

The real irony is that people are sitting in isolation, “investing” in hopes of a big win, but missing out on the most enduring investment of all: human connection. In a world that’s more financially connected than ever, we’re paradoxically more socially disconnected. People are trapped in a cycle of financial anxiety and personal isolation, glued to screens, fearing real-world interaction, and choosing the illusion of wealth over the actual wealth that comes from a thriving community.

In a way, this shift has created an epidemic of loneliness, even as we chase the highs and lows of speculative investments. Social capital is slow, it’s complex, it doesn’t offer instant rewards like the markets do—but it’s real. It’s what sustains us, grounds us, and gives our lives depth. Investing in social capital means stepping outside, engaging with neighbors, creating shared experiences, and making meaningful contributions to the world we actually live in.

So yes, we’ve lost interest in investing in people because it’s not as fast, flashy, or quantifiable as watching numbers change in a portfolio. But what are we left with? A society of people closed off from each other, building private wealth while public wealth—the wealth of community and connection—slowly fades. This kind of living is hollow, and ultimately unsustainable. Social capital doesn’t just support individuals; it creates a stronger society.

The technology that promised us freedom and access is locking us into a virtual cycle of speculation, robbing us of the opportunity to live fully, engage deeply, and build something lasting. So, when I say we’ve traded social capital for speculative gains, I’m calling attention to the real cost of this exchange. It’s time to reconnect with what truly matters, to reinvest in our shared humanity, and to build a future that isn’t just profitable, but purposeful.