...the same network technology--shrinking chips and expanding communications--that creates wealth in the first place. The tracking, accounting, and transmission of each person's wealth and slivers of ownership can happen only because computation and telecommunication have reduced the cost of a transaction to insignificance. Today there are 7,000 mutual funds--7,000 ways to divvy up the equity of wealth creation. And there are a similar number of publicly traded companies that have, in effect, divvied up their wealth to many owners.
There are several trends in this emerging equity culture, each one amplified by pervasive network technology.