Book coming mid-2025. Some excerpts:

"Physical capital is not a simple solution. [Property] that is both visible and stationary requires that you to become a political actor, otherwise another political actor will just take it from you. Physical constraints lead to political constraints, entropic effects, chaos, disorder, fragility, and risk. You don't understand the defects in your physical property until you see perfect digital property. When property is teleportable, it becomes possible to mortgage it to anyone, anywhere."