Early in 2017, the Dow hit 20,000 for the first time ever, but rather than celebrating, some of the richest of the rich built bunkers to prepare for a potential apocalypse.
These “preppers” are making other investments too. They’re buying houses in New Zealand, which has become a popular spot in case of calamity. And they’re getting elective surgery. You just need so many things to ride out the apocalypse.
The political climate has made many coastal elites anxious about the future.
To some degree, we all collectively take it on faith that our country works, that our currency is valuable, the peaceful transfer of power — that all these things we hold dear work because we believe they work. While they are quite resilient, and we’ve been through a lot, certainly we’re going to go through a lot more.
Doomsday prepping crosses political lines. When Barack Obama was elected to his second term, conservative preppers hunkered down, collecting canned goods and gold coins and buying products hawked by Glenn Beck and Sean Hannity..
Today’s preppers are investing in tech-based currencies like Bitcoin as well as in precious metals, since they’re looking to secure assets in systems not tied to the stability of government structures.
More than half of Silicon Valley billionaires have outfitted themselves for a crisis, whether with a bunker, second home or vacation spot.
It runs the gamut from a lot of people stocking up on Bitcoin and crypto-currency, to figuring out how to get second passports if they need it, to having vacation homes in other countries that could be escape havens.
After all, the same imagination that powers Silicon Valley can also terrify it.
When you think big, it’s common to take things ad infinitum, and that leads you to utopias and dystopias.
The Valley’s preppers have the resources to help soothe their troubled minds.
The tech preppers do not necessarily think a collapse is likely. They consider it a remote event, but one with a very severe downside, so, given how much money they have, spending a fraction of their net worth to hedge against this, is a logical thing to do.
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