- Howie Town
- Posts
- How Speculation Became a Global Pastime
Good morning everyone,
On this week’s Trends With Friends, I’m joined by our Stocktwits host Katie Perry to explain and do a deep dive into the "Degenerate Economy", a term you’ve heard me use often to describe the collision of speculation, vice, free time, and mobile tech.
From the sin stocks of the 1980s to $HOOD ( ▲ 0.47% ) , crypto, Doordash and Zyn pouches, this conversation unpacks how financial speculation has morphed into mainstream entertainment and how technology has transformed the original sin industries. We explore why the post-COVID world unleashed a wave of retail trading, how platforms like Stocktwits, Twitter and Discord are so popular for traders and investors, and what it means when money becomes religion.
In addition, I talk about my own investment thesis behind the Degenerate Economy Index, including why $CME ( ▲ 0.41% ) , $PM ( ▼ 0.55% ) , and even $BTC.X ( ▼ 3.09% ) make the cut. The goal here was to help clearly explain how speculation, technology, and culture are reshaping capitalism.
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JUMP TO THE GOOD STUFF:
(0:00) What Is the Degenerate Economy?
(2:45) From Booze to Zyn: Vice Meets Technology
(5:00) Speculation as Entertainment
(8:15) Why Everyone’s a Gambler Now
(10:00) The Missing “Risk Score” for Investors
(12:00) Peak Grift and the Summer of Scammers
(15:00) How Speculation Went Mainstream
(17:00) Dotcom vs Degen: Are We in a Bubble?
(20:30) Crypto as the New Global Religion
(25:00) Building the Degenerate Economy Index
(27:00) Philip Morris, Zyn, and Modern Vice Stocks
Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision.
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