Interesting concept but I think if falls down quickly for a number of reasons:
- If future people have more life hours and more free hours, then supply and demand will balance this out. More hours means more supply, and demand won’t be there because bots are taking over (physical and software) so actually, human hours will become cheap or worthless.
- A unit of time as the only element of value a person brings is obviously not true. Put 3 engineers to solve an algorithm in one hour and one will finish it in 45 minutes because she is smarter. So time only matters when it’s associated with what you do with it. From this POV, productivity will always pay.
- Third, per Einstein, time is relative… so, there you go. It’s what you do with time. And that’s how the world already runs today.
- What the startup you mention and others are looking for is not exchanging time, it’s removing intermediares (like you said) but also, to empower the good ol’ “trade economy” with software. Certainly a fascinating concept and indeed an upcoming (unavoidable) game changer with the help of machine learning and AI. But “time” as the star the show, the unit to measure everything, is way too simplistic for the data, process-intensive world we are heading towards. Time is just one of millions of variables.