In today’s Exponential Investor

  • Speak of the devil, and he shall appear 
  • Should social media be more closely regulated? 
  • Economists get rattled 

Today’s Exponential Investor is a special edition.  

Last Thursday evening, Sam and I got together for Southbank Live, a weekly live conversation between two of our editors.  

Usual host Boaz Shoshan, a regular guest on our podcast, was unavailable, so I stepped in to host.  

Sam and I covered a lot of ground, but kicked the discussion off by looking at a tweet by Jack Dorsey. 

The tweet

He’s the founder of Twitter, so has a fair few followers (5.8 million to be precise).  

He tweeted last week “Hyperinflation is going to change everything. It’s happening.”  

Lots of serious investors and economist have said sarcastic things such as “we would love to see the working paper behind this theory” and “can you share your macro model to enlighten us about this.”

The heat

But one economist got even more riled up than that. She said, and I quote:  

Like “divorce” in a marriage, this word Jack tweeted [hyperinflation] should not be uttered unless you’re trying to bring it into being. No one should take investment advice from someone who sees himself as making markets. How insanely reckless to tweet this. Immoral. Jack, ban thyself.

She even scribbled over the word “hyperinflation” in her retweet, lest the devil himself should appear.  

The beat

This opened up a ream of interesting topics, from the reflexivity of investment actions, to the unregulated power of influencers to move markets, to the links between central banking groupthink and the rise of bitcoin.  

And plenty more too. 

It was a fascinating discussion, and I’m delighted to be able to share it with you now.  

All the best,

Kit Winder
Editor, Exponential Investor