financialization is no longer purely institutional. it has seeped into our culture.
Phenomenal John. One q though, is it truly nihilistic? They seem to believe pretty religiously in the power of the meme itself. Maybe you've uncovered a new religion based on mimesis, not just as the means of transmission, but as the basis of meaning. Elon is prophet, Doge the sacred cow / golden calf, heaven = moon / mars, heathens / hell = no-coining, temptation is weak hand, proof of faith is HODLing for which you will receive many kingdoms worth of riches.
Loved the way you laced the topics of social media, equity ownership, lottery culture, FOMO.. Its reality presented in the most digestible format.
A new subscriber. Awesome article, thanks for this!
Great piece. I particularly love your identifying the principal agent problem with inflated valuations when companies are being valued based on close to perfect performance and interest rates staying low for a long time. I think this challenge will keep "smart" "qualified" "capable" folks out of operating roles unless the money seems easy to get. And that, is a real problem.
I'am in the proccess of getting your book "Collusian".