July 8, 2020
AliExpress WW
iAddiction: "I Was A F**king Mess Yesterday"

iAddiction: “I Was A F**king Mess Yesterday”

AliExpress WW

Posted by Scott Galloway through ProfGalloway.com,

AliExpress WW

Addiction is the inability to stop using a chemical or engage in any activity, although it is harmful.

I deal with almost every substance or drug-related behavior: alcohol, drugs, coffee, porn, sex, gambling, work, expenses, devices and social media. I insulted them all, but I don’t think I’m addicted. On a balanced scorecard, these substances and behavior, abuse and everything else were a pure positive in my life, even @twitter.

Most diseases and difficulties for our species are a function of scarcity. – too little salt, sugar, fat, approval, safety, mating opportunities. As a result, when we find these things, our brain produces the highest reward, the hormone of pleasure, dopamine. And that makes sense. Nature encourages behavior that promotes the reproduction of the species.

The assembly line, processing power and Amazon Prime not only reached the minimum level of survival, but also created a new threat to our species: overabundance. Diabetes, income inequality, and fake news are all a function of our belief that the more the better. Jeff Bezos, capturing and collecting Norway’s GDP, does not make sense for the species, but his instincts (fear of starvation, possession of power) dominate.

Survival, distribution and consumption should lead to the next generation, which will be smarter, faster and stronger. Where something went wrong is a function of our innovative economy, moving faster than our instincts. Historically, people have been engaged in activities that have natural stop signals – end of chapter, end of caption. Platforms such as Facebook, Instagram and Netflix systematically uprooted Kiev stop. Even casinos are intentionally placed without hard angles, so all this is one continuous space, and you continue to move along it, moving on to the next game.

Technological progress, coupled with calibrating our instincts, ends with endless scrolling. We can not find the switch. Unlike our parents and grandparents, for us the release of dopamine is no longer dependent on the victim, engagement or sand, but on sitting still, as in 15, 14, 13 seconds of episode 5 Killing eve will begin. There are still filtered photos, more sexy, more stocks, more marginal, more extra … more time without the trouble of having to do … life.

The most recent hacking dealers are online trading platforms (OTPs). What does endless scrolling look like on a trading platform?

  • Confetti falls to celebrate deals

  • colorful candy crush interface

  • Gamification: users can use up 1000x per day to improve your position on the waiting list for the Robinhood cash management function (in fact, a highly profitable current account in the application)

Ratio

Our institutions (courts, congress, SEC) must slow our thinking so that our reflective instincts are tested, and we can decide not to distinguish, not to pour Mercury into the rivers, and not let the car rental company go bankrupt (Hertz) issuing stocks is necessarily useless. You lose, they win.

Technological change is far ahead of our species’s ability to adapt to an endless stream of incentives. This discrepancy in modulation has blown up our level of teenagers. depression and social chaos. We are in the Supermarine Spitfire, accelerate every day, hoping that the fuselage holds together when we approach the sound barrier – for 31 seasons The SimpsonsRealistic video games, ubiquitous porn of increasing extremes, high definition documentation in real time of the party, your 15-year-old daughter was not invited, social media algorithms working on emotion against truthfulness and immediate edge approval for the “bull put spread”.

Mess

Yesterday, I was in complete disarray after learning about the suicide of Alexander Kearns, a 20-year-old teenager from Naperville, Illinois who was interested in markets and started trading in stocks. Alex mistakenly believed that he fell $ 730,000 after trading options in the Robinhood app and committed suicide. We do not know what other factors were played here, and young people who have lost their lives after losing money in the market are not a new phenomenon.

Facebook and Twitter have been doing what CNN and Fox have been doing for decades, but better. I’m afraid Robinhood may become an addictive platform – Instagram for trading. Robinhood users are asymmetric (32% of visitors aged 25 to 34). The firm reported 3 million new accounts in the first quarter of 2020. half were first traders. In addition, with Las Vegas and sports bets other than closing, OTP has become a place where an emerging gambling addiction can take root and / or a rehabilitation center where your sponsor is a dealer.

Learning to invest and understand markets are good things, like chatting with friends on the Internet … up to a point. Social media and gambling have one and the same psychological mechanism of dependence: variable reward – when you continue to perform an action in the hope of receiving a possible but unlikely reward. This is the type of behavior that is “the most exciting and hardest to stop“. Robinhood management and investors took advantage of the great technology and made a conscious decision not to pay attention to the well-being of our youth for personal enrichment.

Some additional data on the growth of online trading:

  • Excessive trading may be triggered. addiction process,

  • 12% of all trade the activity from daily traders, but daily traders make up only 1.6% of all profitable traders.

  • Men trade more than women, and unmarried men trade more than married men.

  • Stock market crashes were associated with upticks in suicide.

  • investors with a big difference between their existing economic conditions and their levels of desire to hold riskier stocks in their portfolios.

Most of the articles will focus on what we Americans see as a serious risk associated with the growth of newcomers to online traders … markets may go down Most market peaks coincide with the exit of retail investors. As far as I know, we did not see the extent of the market crash caused by the twenty-year investment government rescue funds generated through prior approval on their smartphones.

Our elected officials and universal idolatry with money and innovators have flooded institutions designed to slow our thinking and ensure the safety of our children. Joe Scarborough put it good: “Mark, Cheryl and Jack, you have proven yourself to be stupid vulgar people who threaten the health of Americans, racial justice, fair elections, and basic truths.”

Where are we going? The main part of the pressure aimed at protecting children from dependence on the device rests with their parents – restricting their use (strictly) and forcing other parents to limit their use at school, so children do not feel that they are an exception. This is difficult and needs to be done. “Fast Electronics,” perhaps for the whole family, can enable the nervous system dischargeReducing your dopamine threshold allows less fun to be satisfying.

The threat of drug addiction slows down our home. One of our sons shows behaviors that are device dependent. This is terrible. Everything that he does, speaks and works, is aimed at doping awaiting on his iPad. My mom and I are doing what most parents will do – reading, seeking outside help, restricting use. But most of all we try to slow down the course of events. Time with him, especially on the street or with books. Time in bed with him tells him stories about how his grandfather became a frog in the Royal Navy. Slowing down everything. It seems to work.

I see Alex Kearns and see my eldest son. A nerd with a wide smile, fascinated by the markets and looking for dop hits. I can not imagine the pain of this family. I can’t imagine how we lost the script, allowing meaningful, innovative and financial means to surpass our children. Youth suicides increase 56% in a decade. Girls from 10 to 14 years old had triple self-harm episodes from 2009 to 2015. Teens who are on social networks more than 5 hours a day twice more prone to depression than those who have been on for less than an hour.

This is amazing Tim Cook. doesn’t want his nephew on social media? If he were not Tim Cook, he would also say: I also do not want him to have an iPad?

Weapons are our phones and tablets, and bullets are social networks. firms led by sociopathic oligarchs. And now we may face a new threat to young people: online trading platforms.

We are a country devastated by a virus where curfew is sent to our phones. Innovation has become synonymous with exploitation. We find consolation in the market high, but the market is not a reflection of the economy or progress, but the growing ability of several firms to bridge the gap between the pace of technology and regulation.

It is depressing. What to do? I will check my likes, mentions and promotions.


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