Social media is a medium where one could interact with someone in the internet via text, video, gifs, photos or reactions. Everyone with a smartphone, in one way or another has a social media account in one or more of the following apps - Facebook, Messenger, Whatsapp, Instagram, Snapchat, Reddit, Youtube, Omegle, Twitter, Stocktwits, Discord, Tik Tok or Parler. Whilst I have multiple social-media accounts, I only use a few and utilise them to my advantage.
If I have to breakdown my facebook activity for the year, it will be 10% interaction with family and friends' posts, 10% Facebook stories, 60% article sharing, 10% Tesla and Elon, 10% phubbing and entertainment. I think I have already graduated from my egotistical, narcissistic, like-my photo stage to now sharing political and Tech articles with zero care of the world. What is more, I could actually use Facebook as free cloud storage with the option to set posts as private for future use.
I optimised Reddit participation when I have found well-thought out and organised resources about investing.
Wallstreetbets (WSB) is a sub with 1.6 million members posting profits and losses, memes, due diligence, and stock-pick yolo-ism, from retail investors all over the world; calling themselves autistic, degenerate gamblers. It became extremely popular, CNBC even mentions it. The memes give me giggles but with over a million members, the brain power of the sub cannot be denied.
You will see posts like -
Sample 1, Sample 2, Sample 3 and websites like Sample 4, Sample 5.
If you know where to look and know what to consume, there are hidden jewels in the sub you will never going to get somewhere else.
Forget about Trump vs Twitter shenanigan, Twitter is the home that politicians, economists, Tech-nerds, hedge-funds, and retail investors are active. This, in turn, creates a networking effect in the Fintwit community. For example, it was Twitter that I get to learn SPACs because of Chamath Palahapitiya which has led me to follow astute SPAC investors who also follow extremely helpful websites like spactrack. News also spread like wildfire in Twitterverse, so reactive search on stocks is only a few second search using the $ sign plus the ticker. It was Twitter that I get to learn how quantitative and qualitative analysis are made by hedge-funds and to network on quality substacks, blogs and podcasts.
I think people see Twitter as a toxic community as a whole but that is not the case. I block bots and turds, follow bulls and contrarians alike, and bookmark insightful and helpful threads for future reference.
I have Instagram where I follow investing accounts but not as effective as Twitter. Stocktwits for pre-market and after-market data but the ideas are downright bin-worthy.
The idea that soc-med are time-wasters is simply untrue. Well, it could be if you allow it to consume you. However, if you know what you are looking for, you will find it.
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