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The End of the Millennial Lifestyle Subsidy - Derek Thompsonwww.theatlantic.com/newsletters/archive/2022/06/uber-ride-share-prices-high-inflation/661250/
1588 sats \ 6 comments \ @nout 15 Jul 2022 bitcoin
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178 sats \ 1 reply \ @Majjin 15 Jul 2022
That was a very good article! I really like how it clearly demonstrates how the Fed setting interest rates (price controls) and inflating the money supply modifies our behavior.
Fed price controls --> Artificially cheap loans --> More VC investment --> Growth over profit Big tech companies --> Artificially cheap products/services --> Consumerist millennial lifestyle
The Fed basically made the consoomer meme possible
https://miro.medium.com/max/2400/1*ArIXjva0LeqvVAGWTPAb0w.png
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100 sats \ 0 replies \ @tomlaies 16 Jul 2022
As opposed to every other generation who behave so different from this meme
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125 sats \ 0 replies \ @DemandUtopia 15 Jul 2022
Good continuation from Jimmy Song's article, -Like Altcoins, Startups Are New Money Magnets:
Even the few that make it subsidize their good or service through large infusions of newly-printed money, eschewing profits for the prospect of growth. Losing money to add customers is a constant tradeoff, with the hopes of being able to price out competitors to eventually become monopolies. They all hope to graduate to stock market darlings like Tesla, Amazon or Alphabet.
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100 sats \ 0 replies \ @notgeld 16 Jul 2022
This is just report from dollar cantillionare. Outside of US some millennial may be already living through 3-4th economic crisis not to say about political crisises or actual non democratic state.
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0 sats \ 0 replies \ @shyfire 15 Jul 2022
They are to blame though https://twitter.com/cwt_news/status/1548015427556503553
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0 sats \ 0 replies \ @2big2fail 15 Jul 2022
there is a changing tide...this would never have been published prior to price inflation prints
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