Yo!
Today I learned about a kid that found a puffy chip in a bag of Doritos. She filmed it and put it on TikTok. Then she listed it on eBay for 99 cents but received some bids as high as $100,000. The listing eventually got taken down, but Doritos then offered her $20,000 for finding the chip.
This highlights the absurdity in how we assign value. We see it in the explosion in meme stocks like Dogecoin and how influencers can make a good to even lavish living by their emerging trade, influencing. How we value ourselves and how the market values our work is shifting. And one of the most impossible-to-grasp things is how the US stock market has almost doubled in eighteen months, all while Covid cases continued to climb and the global economy effectively stalled or moved at a glacial pace.
What a wild, absurd world we're living in, where the impossible has become commonplace. Living in the age of information hasn’t made us understand more; it’s made us realize how little we truly do.
Your finance friend,
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1. 🤓 Twelve Small Truths About Running A Small Business (HYG Original by Paco) Here are twelve small truths that I’ve learned while forging my own path. 🤓
2. 🛍 TikTok made me buy it (Vox)
3.🧑🏽🍳 How New York’s Restaurants Suddenly Got So Expensive (GrubStreet)
4. 🤓 A Bookkeeping Thing: Sell Value, Not Time. How to Think About Your Prices (HYG Original by Paco) Should an expert cobbler who has 45 years of shoe-repair experience charge less because he can fix your shoes faster and better than a rookie? Hell no. 🤓5. 🏙 The Resilience of New York’s Black Homeowners (NY Times) 6. 🧢 The Billionaire Gucci Master and the Scam That's Bigger Than Ransomware (Bloomberg) “Authorities say Ramon Abbas, aka Hushpuppi, perfected a simple internet scam and laundered millions of dollars. His past says a lot about digital swagger, and the kinds of stories that get told online.”7. 😠 Don’t Piss Off Trisha Paytas (Buzzfeed) “Paytas has [...] made videos in the middle of what looks like a breakdown, often crying and screaming, saying ugly things; these videos are almost always monetized. In fact, one of their trademark moves is addressing a scandal or making amends by posting a series of videos and including ad breaks on all of them. Paytas knows that these kinds of dramatics, be they sincere or trolling, can result in sizable income spikes. 'I think that’s why I did it for so long,' they said.”8.🦄 The Dangerous Myth of Luxury Housing (Marker) “This conflation with any new development being construed as luxury is harmful because it reduces support for the only projects that can feasibly reduce pressure on the market. With aging housing stock across the country, people need updated HVAC systems, ventilation, and improved energy efficiency in an era of climate change and rising costs. That the standard of quality of life has greatly improved over the last several decades, is something we should celebrate. It wasn’t long ago that refrigerators, air conditioners and running water were deemed luxuries. Now, they’re seen as necessities. To object to the democratization of these essentials, as well as amenities that have emerged in new development in recent years like lounges, roof decks, gardens or pools, is to suppress more people from getting to enjoy improved qualities of life in the most intimate spaces we occupy as people.”
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