Tech stocks have surged to start 2020, lifting the entire market to record highs.
But you won’t find much enthusiasm for the rally on Twitter. For that, you’ll have to go to Reddit and TikTok trib.al/q8fMbV8
But you won’t find much enthusiasm for the rally on Twitter. For that, you’ll have to go to Reddit and TikTok trib.al/q8fMbV8
Twitter’s history explains why this is: The platform grew rapidly during the financial crisis.
Many of its core influential users have been shaped by one or two economic downturns trib.al/q8fMbV8
Many of its core influential users have been shaped by one or two economic downturns trib.al/q8fMbV8
When any asset class starts to look bubbly, there’s large group of users ready to tweet parallels to past bubbles.
Twitter serves as an informal heat check trib.al/q8fMbV8
Twitter serves as an informal heat check trib.al/q8fMbV8
In contrast, Reddit’s /r/WallStreetBets, formed in 2012, is where headstrong traders can project confidence.
For a generation whose only market memories have been watching Amazon and Facebook’s rise, why wouldn’t they make a bull case? trib.al/q8fMbV8
For a generation whose only market memories have been watching Amazon and Facebook’s rise, why wouldn’t they make a bull case? trib.al/q8fMbV8
TikTok is an even more extreme version of this, with teens and college students producing viral clips of how to make money by trading tech stocks in class trib.al/q8fMbV8
To those used to market coverage on Twitter, the idea of Gen Z making TikTok videos about day-trading strategies may seem outrageous.
But someone who lived through the Great Depression may have felt the same way watching dot-com boom coverage on CNBC trib.al/q8fMbV8
But someone who lived through the Great Depression may have felt the same way watching dot-com boom coverage on CNBC trib.al/q8fMbV8
The parallels to TikTok are clear: CNBC was founded in 1989, several years into one of the longest bull markets ever.
It became a hub for speculative investors. But it lacked the balanced skepticism of veterans who had lived through past bear markets trib.al/q8fMbV8
It became a hub for speculative investors. But it lacked the balanced skepticism of veterans who had lived through past bear markets trib.al/q8fMbV8
These newer venues are worth paying attention to.
Their lack of memory is often what's needed to thrive in emerging, speculative markets. They may also offer an early warning trib.al/q8fMbV8
Their lack of memory is often what's needed to thrive in emerging, speculative markets. They may also offer an early warning trib.al/q8fMbV8
