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Wednesday, August 17, 2022

The FOMO Bowl – The Reformed Broker

Congrats, Rams fans. Great game.

Halftime show was underwhelming. Kendrick was out of place (temporally, not geographically. Mary J. seemed like a non sequitur addition to this too. I love them both, but each should have their own show someday. Last night should have been Dre and Snoop with special guests Eminem and 50 Cent. That would have been a more coherent performance given the crossovers and guest appearances the artists have made on each others’ records over the years. Whatever, it’s fine.

There was a lot of Millennial nostalgia on display last night, bringing the late 90’s and early 2000’s back with a vengeance for all the 30- to 40-year-old heads of household who are now doing most of the spending in this country. Resurrecting Dr. Evil was a nice idea for GM. And putting Meadow Soprano in an electric Silverado, on the New Jersey Turnpike – so perfect. The Michelob Ultra Big Lebowski homage was my favorite of the night – they had me at Steve Buscemi in a bowling alley with Electric Light Orchestra playing…Flawless.

“People are making investment decisions based on memes!” from the E*Trade baby commercial was a good line, but the spot itself didn’t really land. Lindsay Lohan for Planet Fitness could have been much funnier – a big miss.

The crypto stuff wasn’t as overwhelming or obnoxious as I would have guessed it would be. All the little kids at my friend’s house were holding their phones up to the screen to catch the bouncing QR code that Coinbase did. That was genius. The site crashed from the amount of people hitting it all at once.

 

Well done.

I liked the Larry David commercial for FTX. “Don’t miss out on the next big thing” has been the justification for a lot of dumb investing, but there’s also some truth the idea that most new ideas can seem dumb the first time you come across them. I wonder if they paid Larry in Bitcoin. If he were smart, he would have insisted on pre-IPO stock shares in the company.

The crypto brokerages and exchanges rely solely on FOMO to keep people opening accounts and trading at this stage in the game. Other than speculating in (or collecting) NFTs, there really isn’t anything else worthwhile to do with crypto. For the average consumer, I mean. Why the f*** should a civilian who is not interested in trading give a damn about FTX or Coinbase? So keeping the plates spinning until something worthwhile arises is important. I thought this spot did a good job of getting that across. We don’t know what the point of any of this either, but don’t dismiss it too early…

Got it.



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