The Currency of Time

At its most common form, a market is anywhere people buy and sell. Shopping malls, coffee shops, and corner book stores are all markets. So too are the numerous eCommerce websites. Perhaps most surprising, social media is also a market.

Economics is the study of scarcity and distribution of finite resources. Markets are a means for people to trade scarce resources. The most scarce of all resources is time, making it a currency more valuable than Bitcoin.

Motivational personality Grant Cardone proclaims, “I don’t have time is the biggest lie you tell yourself.” The point is everyone has time. We all have the same 24 hours in a day. This makes it a scarce resource as even the most wealthy cannot buy another hour. In fact, recognizing time as a precious resource is paramount to a successful life.

Morse Code

According to the Washington Times, “The history of social media began on May 24, 1844, when Samuel F.B. Morse, a painter-turned-inventor, sent a message from Washington to Baltimore.” Fast forward to March of 2006 and Jack Dorsey published the first Twitter message. It read, “just setting up my twttr”. Two years before, Mark Zuckerberg released Facebook.