How Social Media Creates a Global FOMO Frenzy

During their recent episode, Taylor, Carlisle, and Katsenelson discussed How Social Media Creates a Global FOMO Frenzy, here’s an excerpt from the episode:

Jake: Buffett did say in his last letter like, that he thinks today has more of a speculative element to the market, like more of a gambling punting mentality than 30 years ago, which is rather impressive to me.

Tobias: Do you think that’s social media? There’s this social element to investing where you see your friends getting rich and you follow them. But it was a little bit more scattered. And now it’s so easy to– Every time somebody has a big score, they get on social media and they pop some champagne and choose rich, all that sort of stuff.

Vitaliy: Oh, I think actually that is– [crosstalk]

Jake: Choose rich.

Vitaliy: Think about it.

Tobias: You know that dude? You know who I’m talking about choose rich?

Jake: No. I just imagine that being the inverse of have fun staying poor.

Tobias: I think it’s satire, but I’m not entirely sure. The guy is like, he’s doing it totally straight, that nick.eth, the ETH, yeah, I think.

Jake: Wow.

Tobias: It’s funny stuff. When value blows up, it’ll be me. I’ll be out there doing that. I couldn’t possibly.

Vitaliy: Toby, think about it. Usually, these bubbles happens because you’re competing with your neighbor, right?

Tobias: Yeah.

Vitaliy: Okay. Well, now, the only thing is you only– [crosstalk]

Tobias: You got global neighbors.

Vitaliy: But now you have your whole Facebook– [crosstalk] .

Tobias: Yeah.

Vitaliy: Yeah, I think you’re absolutely right.

Tobias: That question was from Tyler Pharris, our unofficial producer. Good one, Tyler.

Jake: Yeah.

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