Why do we buy junk?
Because the status games we're forced to play. In a fiat economy, the status games are all funded by debt. So-and-so got a new phone, now I do, too. So-and-so got a new car, now I have to as well. So-and-so got a new house, sent their kid to a particular college. All the status games are fueled by bringing consumption forward.
Status games are by nature zero-sum and very high time preference. Yet people play them because they're social animals.
jimmysong /
npub10v…psp42
2023-11-13 19:44:32
Author Public Key
npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42Published at
2023-11-13 19:44:32Event JSON
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"pubkey": "7b3f7803750746f455413a221f80965eecb69ef308f2ead1da89cc2c8912e968",
"created_at": 1699904672,
"kind": 1,
"tags": [],
"content": "Why do we buy junk?\n\nBecause the status games we're forced to play. In a fiat economy, the status games are all funded by debt. So-and-so got a new phone, now I do, too. So-and-so got a new car, now I have to as well. So-and-so got a new house, sent their kid to a particular college. All the status games are fueled by bringing consumption forward.\n\nStatus games are by nature zero-sum and very high time preference. Yet people play them because they're social animals.",
"sig": "e2e3d874ee553fccfda77c745326344a6442efcde1fd6b80ce9c2cd80c20dc1f877fb5dbf5b8f5afd64072917baee1aed22e7e591dcb891937f9317e544f9ab4"
}