Matt Damon, Cryptocurrency, And The Great Power Of Marketing

(Photo by Kevin Winter/Getty Images)

I am intrigued by the wrongly attributed quotes. What makes us feel the urge to attach a catchy, free-wheeling phrase, a small piece of independent wisdom, to a hero or a villain from history?

Whatever the reasons, there are some great quotes that are wrongly attributed, and one of the most frequent is that Albert Einstein said something along the lines of compound interest which is “the most powerful force in the universe”. There is no evidence that Einstein said anything like that, and He claims that he only grew up a few decades after his death When stories about high interest rates were common in the news. This potential misquotation had a much greater thorny force than it did during Einstein’s lifetime.

Today, with interest rates that were Historically low for a historically long time, I will humbly suggest an update to the fake Einstein quote. Let’s replace ‘compound interest’ with ‘marketing’, given the times we are in, and give it a try appropriately.

I know, it’s not attractive, and requires a bit of thought – never the sign of a good proven quote. But marketing doesn’t get what it deserves as a powerful force in our lives as it really is.

Do not believe me? There are a million examples of sales pitches being so entrenched that we have long forgotten that good marketing was the root of some perceived need in the first place. Persuading people to buy something – a product, an idea, even a lifestyle – is an art form.

Why do you have to spend a few thousand dollars (at least) when you get married for a little stone that doesn’t reach Diamond conglomerate chief called De Beers “Intrinsically worthless”? That’s right: nearly a century of marketing. Well-preserved lawns, as something desirable rather than phony business that wastes labor and environmental resources, it really is? You have been marketed to (Promoter You were originally supposed to show your neighbors that you better religion Because you don’t need to grow wheat or pasture for sheep up to the front door, and meadows still sort of serve today a similar holiday).

Remember that at the end of the day, all social media platforms, and all the problems they cause with misinformation and extremism, are ultimately a function of the number of ads that can appear before our eyeballs. Heck, even the Great American Dream is a bit of reality mixed in with a big vague marketing robe — there are plenty of other places immigrants can seek to go. life expectancyAnd Better medical careAnd Less income inequality, And more happiness From the good old USA of A., but all those stories of starting from nothing and making it big in America have really taken hold over the past two centuries.

Marketing is really a powerful force. Like any strong force, it can be applied to good or bad effect. Which worries me a little when it comes to it Cryptocurrency announcement Matt Damon Recently, I’ve been making the rounds on social media.

This is correct, Martian He took himself to the ubiquitous screens to connect crypto.com by, among other things, comparing investing in cryptocurrency to summarizing Mount Everest and space exploration. “Wealth favors the brave,” Damon said, in a slogan reminiscent of many Marlboro Man advertisements in decades past.

Buying cryptocurrencies, of course, It doesn’t take much courage, it seems that most Avoid the investment community Damon’s ad. The advertising spot has been widely criticized across the Internet.

But I bet a lot of marketing pitches that sunk too deep to be indistinguishable from the culture itself are starting to look ridiculous. Just because the well-paid Matt Damon seems to be a remarkably poor source of investment advice to us at this moment doesn’t mean his message will eventually fail to gain a foothold.

Like many observers in the financial world, I don’t quite know what I can do with cryptocurrency yet in the larger historical context. Perhaps one day it will become an integral part of our society. Perhaps it will become a failure of historical proportions, similar to the Dutch tulip madness. But regardless of the potential organic future of cryptocurrencies, my hope is that cryptocurrency will not become just another idle, or even harmful, American proliferation born not of interest but of decades of marketing. That would definitely be a shame.


Jonathan Wolf Civil Judge and Author Your Debt Free Dinar (Referral link). He taught legal writing, wrote for a variety of publications, and made it his business and pleasure to be a financial and scientific literate. Any opinions he expresses are likely to be pure gold, but they are nonetheless his own and should not be attributed to any organization to which he belongs. He doesn’t want to share the balance anyway. It can be accessed at jon_wolf@hotmail.com.

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