Memecoins
Are Memecoins the next evolution of Wall Street betting?
Nathaniel Popper, author of The Trolls of Wall Street, talks about how Wall Street bets and memecoins reflect broader social changes, including the changing status of men.
Posted June 14, 2024 at 9am EST.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Addicted to podcasts, Pocket casts, Castbox, Amazon Musicor on your favorite podcast platform.
Nathaniel Popper has just published his latest book, “The Wall Street Trolls,” which covers the Wall Street betting phenomenon. Oddly enough, his book comes at a time when there are striking similarities to the current memecoin craze in cryptocurrencies.
In this episode, Popper explores the rise of online investing communities like Wall Street Bets and their reflection of broader social changes, particularly among young people.
It also touches on the parallels between the trolling culture of these communities and the rise of figures like Donald Trump, and delves into the hidden dangers and psychological influences of memes in modern investing.
Show highlights:
- The rise of online monetary communities and the shift towards investing based on ideas rather than traditional financial fundamentals
- How the changing roles of young people in society have influenced the growth of online financial and crypto communities
- How Robinhood’s design choices changed retail investing, sparking FOMO and controversy by making trading as easy as a tap
- The hidden dangers of memes in modern investing and how they balance fostering community with promoting speculation
- Because Trump’s ties to the crypto community highlight the mix of serious intent and trolling
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Connections
Previous Unchained coverage on memecoins:
The book:
Meme culture