Exclusion is a Powerful Feeling

Exclusion is a powerful feeling.

Feelings of exclusion from the traditional financial system have, in part, driven much of the younger generations to gravitate towards crypto. Of the $117T in national wealth generated between 1989 and today, only $6T of that accrued to the segment of people under 40 years old. Admittedly, compounding plays an important role in wealth creation, and those who were under 40 in 1989 likely aren’t under 40 today. But many in the younger generations — the ones currently under 40 — are frustrated with the existing system and looking for somewhere to make their mark.

It’s common to hear these themes when people talk about why they’re interested in crypto. “This is our shot,” “it’s the biggest generational transfer of wealth in history,” and “the existing system doesn’t care about us” are all explanations I’ve heard many times.

At the moment, crypto might be more inclusive than the alternatives. It’s still early, which means it’s easier to manage inclusivity. The size of the pie is still growing quickly, which is exciting.

As crypto scales, maintaining inclusion is important. The problem is, not everyone can join everything. Access creates value. And if everyone has access to everything, what do those interactions look like? At what point does a community become too big for there to be real value in joining?

But the point of this wasn’t to talk about communities, or access, or onboarding. The point is that, as crypto grows, maintaining inclusiveness will remain especially important. Community infighting feels exclusionary. Communities fighting with each other feels exclusionary. And when it starts to feel exclusionary, those that feel excluded — maybe the older folks, maybe the next young generation — will look for something else.

Why? Because exclusion is a powerful feeling.