{"id":80,"date":"2022-12-19T12:56:00","date_gmt":"2022-12-19T12:56:00","guid":{"rendered":"https:\/\/moneywithkatie.com\/crypto-bros-and-gen-z-tiktok-socialists-are-two-sides-of-the-same-movement\/"},"modified":"2025-09-03T18:57:34","modified_gmt":"2025-09-03T18:57:34","slug":"crypto-bros-and-gen-z-tiktok-socialists-are-two-sides-of-the-same-movement","status":"publish","type":"essays","link":"https:\/\/moneywithkatie.com\/essays\/crypto-bros-and-gen-z-tiktok-socialists-are-two-sides-of-the-same-movement\/","title":{"rendered":"Crypto Bros &amp; Gen Z TikTok Socialists are Two Sides of the Same Movement"},"content":{"rendered":"<div class=\"sqs-html-content\" data-sqsp-text-block-content>\n<h3 style=\"white-space:pre-wrap;\"><em>tl;dr<\/em><\/h3>\n<p class=\"\" style=\"white-space:pre-wrap;\">\u201cA completely <em>unregulated<\/em> system would only serve to exacerbate the problem (as the FTX <a href=\"https:\/\/economictimes.indiatimes.com\/prime\/money-and-markets\/a-greed-story-how-ftx-crash-became-the-lehman-brothers-moment-for-crypto-exchanges\/primearticleshow\/95494095.cms\" target=\"_blank\">meltdown<\/a> has more or less exemplified with comic precision), and a socialist system would probably ensure there\u2019s not much wealth to fight over (as the Bros are quick to point out by referencing <a href=\"https:\/\/www.nytimes.com\/2019\/01\/25\/opinion\/venezuela-maduro-socialism-government.html\" target=\"_blank\">Venezuela<\/a>). Neither group\u2019s solution addresses the heart of the problem without introducing a host of new ones.\u201d<\/p>\n<\/div>\n<hr \/>\n<div class=\"sqs-html-content\" data-sqsp-text-block-content>\n<p class=\"\" style=\"white-space:pre-wrap;\">When I envision the political spectrum online, somewhere along the far right\u2014the alt-right, more accurately\u2014is the stereotypical crypto bro.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">You know the kind. They\u2019re typically white, male, and somewhere between 21 and 40 years old. Basically, the <a href=\"https:\/\/fortune.com\/2022\/07\/21\/crypto-bro-web3-gender-diversity-women-in-tech\/\" target=\"_blank\">Winklevii<\/a>. They have laser eyes, hexagonal NFT Twitter profile photos, and a bizarre, vaguely homoerotic way of interacting with one another on the internet (<em>apes together strong<\/em>!).&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">On the <em>other<\/em> side of the political spectrum, I envision what I can only refer to as the far-left Gen Z TikTok socialist. The person who\u2019s still campaigning earnestly for Bernie Sanders, believes capitalism is the root of all evil, and probably owns a lot of secondhand Birkenstocks. Suffice it to say, dismantling the system and eating the rich is very much <a href=\"https:\/\/www.refinery29.com\/en-au\/anti-capitalism\" target=\"_blank\">in vogue<\/a>.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">(I\u2019m intentionally painting very stereotypical caricatures here: the way someone on the far left might describe a crypto bro, and vice versa.)<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">What\u2019s important to note about how I conceptualized these typecast characters in the past is that I saw them as <em>political opposites<\/em>. People who believe <em>very, very different things<\/em>.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">But the more I reflected on the sentiment of their core messages, the more I started to wonder: <strong>Is the political spectrum actually a loop?<\/strong><\/p>\n<h2 style=\"white-space:pre-wrap;\">General distrust of the powers that be<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">When I tossed this observation into my beloved Twitter cesspool, someone noted that there\u2019s a name for something akin to this phenomenon: horseshoe theory.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Horseshoe_theory\" target=\"_blank\">Horseshoe theory<\/a> postulates that extreme political views on either end of the spectrum actually <em>closely resemble one another<\/em>. Though, when I did some quick Googling, the first few articles had headlines like, \u201cLet\u2019s Put an End to Horseshoe Theory Once and For All,\u201d and \u201cHorseshoe Theory is Nonsense!\u201d And considering some of the human rights issues up for grabs in political ideologies more generally, it stands to reason that horseshoe theory could be seen as insensitive at best and heartless at worst.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">But in the <em>financial <\/em>realm, I can\u2019t unsee the similarities between what these two groups (the crypto bro niche, henceforth referred to as the \u201cBros\u201d <em>and<\/em> Gen Z anti-capitalist culture, henceforth referred to as \u201cthe Birks\u201d) believe is wrong with America.<\/p>\n<h2 style=\"white-space:pre-wrap;\">The Bros\u2019 lack of trust in the \u201cestablishment\u201d<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">In the cryptosphere, there\u2019s a <em>deep<\/em> distrust of \u201c<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fiatmoney.asp#:~:text=Key%20Takeaways-,Fiat%20money%20is%20a%20government%2Dissued%20currency%20that%20is%20not,U.S.%20dollar%2C%20are%20fiat%20currencies.\" target=\"_blank\"><span style=\"text-decoration:underline\">fiat currency<\/span><\/a>.\u201d Technically speaking, \u201cfiat\u201d means a floating currency backed by a sovereign state (aka the good ol\u2019 US of A) rather than a commodity, like gold.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">What gives fiat value? Well, at its core, the fact that you have to pay your taxes with it.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Every citizen has to pay taxes (assuming they earn enough to do so) using USD. You can\u2019t send the IRS a Dogecoin. As a result, taxation is what creates an inherent demand for fiat currency and gives it value within the ~societal construct~ we live in. What happens if you don\u2019t pay your taxes? You get thrown in prison! Fun. The stakes are high.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">If fiat currency gives a sovereign state\u2019s government more control over its citizens, what\u2019s the Bros\u2019 solution? A completely <em>decentralized, unregulated<\/em> asset class\/currency\/bitstonk, or whatever we\u2019re calling it this week.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">This scans to me as less germane to nerdy technicalities of digital payment systems and more an overarching suspicion of\u2014<em>a lack of confidence in<\/em>\u2014the government\u2019s competence and intentions with respect to monetary policy decisions (and, by extension, the economic conditions it created and continues to perpetuate).&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Hell, the system they\u2019re advocating for is literally called <em>trustless<\/em>.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">While I fear I\u2019ll need to cite Discord channels as primary source material here, I feel confident after interacting with enough Bros to assert: Generally speaking, they don\u2019t trust the federal government (and they think the Federal Reserve is ruining the country).&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">One such retort to a video I posted about wage stagnation and taxing the rich: \u201cSo your solution is to give more money to the government? The government\u2019s just full of rich people\u2014that\u2019s not going to fix anything.\u201d<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">And behold, a perfect segue to the eerily similar far-left, anti-capitalist complaint:<\/p>\n<h2 style=\"white-space:pre-wrap;\">The Birks: Those in the ruling class are rich, powerful, and deeply entangled with private industry<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\"><a href=\"https:\/\/www.theguardian.com\/politics\/2021\/sep\/20\/eat-the-rich-why-millennials-and-generation-z-have-turned-their-backs-on-capitalism\" target=\"_blank\"><span style=\"text-decoration:underline\">The Guardian<\/span><\/a> reported in 2021 that 67% of millennial and Gen Z Brits say they\u2019d prefer to live in a socialist economic system. Nowhere in the zeitgeist is this rejection of capitalism more apparent than on <a href=\"https:\/\/www.tiktok.com\/@ramalauw\/video\/7071692055138946309?is_from_webapp=v1&amp;item_id=7071692055138946309\" target=\"_blank\"><span style=\"text-decoration:underline\">TikTok<\/span><\/a>. Gawker captured it perfectly in <a href=\"https:\/\/www.gawker.com\/culture\/failure-to-cope-under-capitalism\" target=\"_blank\"><span style=\"text-decoration:underline\">this piece<\/span><\/a>, where Clare Coffey writes:<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">\u201cCapitalism, in this rhetorical strain, is not so much the object of analysis or a concrete historical phenomenon as an all-purpose gesture. \u2018Capitalism\u2019 is useful everywhere: as the punchline of self-deprecating jokes about the way we live now, as a <a href=\"https:\/\/www.thecut.com\/2021\/06\/dating-apps-dismantling-capitalism.html\" target=\"_blank\">perennial-but-distant<\/a> bogeyman that explains chronic frustrations without ever causing enough pain to force serious disruption.\u201d&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">It is, in essence, the classic retort, \u201c<em>Because capitalism<\/em>.\u201d&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">And what\u2019s the colloquially accepted opposite of capitalism? Socialism.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Perhaps nobody distrusts the establishment (Republicans and Democrats alike!) as much as the Bros, but if anyone comes close, it\u2019s the socialist Birks.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">They point to information like rampant wealth inequality (and the fact that many of the mega-rich are in positions of major decision-making power) and say, \u201cThe system is rigged and government officials aren\u2019t incentivized to tax the rich <em>because they\u2019re all super-fucking-rich<\/em>.\u201d The greed, <a href=\"https:\/\/www.theatlantic.com\/business\/archive\/2015\/04\/how-corporate-lobbyists-conquered-american-democracy\/390822\/\" target=\"_blank\">corporate lobbying<\/a>, and 1%ers in charge? It\u2019s not exactly giving \u201cfor the people, by the people,\u201d and the <em>general<\/em> result is that the rich get richer and the poor get poorer.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Hell, even <em>I <\/em>have posted screenshots of <a href=\"https:\/\/en.wikipedia.org\/wiki\/List_of_current_members_of_the_United_States_Congress_by_wealth\" target=\"_blank\">this Wikipedia page<\/a> that conspicuously documents the net worths (and suspiciously low salaries) of the richest \u201ccivil servants\u201d\u2014clocking in at #1 is Republican Rick Scott at $259,700,000, followed closely by Democrat Mark Warner with $214,100,000. The richest 50 members of Congress (so, about 10%) each have 8- or 9-figure net worths.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">And while I don\u2019t consider myself an anti-capitalist, the fact that 10% of our country controls around 70% of its total wealth tends to (justifiably!) raise eyebrows about how effectively our system is currently distributing the #goods that the <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\">vast majority<\/a> of us are working to produce.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">The anti-capitalist solution? A complete economic overhaul: socialism.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Socialism, at its core, is the rejection of private ownership. Generally speaking, the state (read: government) owns the means of production and distribution, and in Marxist theory, socialism is described as the <a href=\"https:\/\/www.jstor.org\/stable\/3517812\" target=\"_blank\"><span style=\"text-decoration:underline\">transitional<\/span><\/a> stage between capitalism and Communism.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">This often emerges in response to the (rather dystopian) public services landscape in the US, which lacks things like universal healthcare, subsidized higher education, and any meaningful solution for childcare. (Though, believe it or not, the majority of places on Earth that provide these things <em>are not socialist countries<\/em>. Denmark, Norway, and Sweden all have strong, free market capitalist systems that just happen to have better social safety nets and public services\u2014hence my constant pontificating that we in the US could learn a thing or two from them.)<\/p>\n<h2 style=\"white-space:pre-wrap;\">The point is, the Bros and Birks share <em>very similar grievances<\/em><\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">While there\u2019s an air of conspiratorial paranoia found in both ideologies, they are\u2014at their core\u2014reacting to the same legitimate issues.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Wage stagnation <em>is<\/em> a problem. Wealth inequality <em>has<\/em> significantly worsened. Upward mobility <em>is<\/em> <a href=\"https:\/\/isr.umich.edu\/news-events\/insights-newsletter\/article\/exceptional-upward-mobility-in-the-us-is-a-myth-international-studies-show\/\" target=\"_blank\">far less achievable<\/a> than we once thought, perhaps thanks in part to tech oligarchs and other megalomaniacal titans of industry. (Sadly, one such megalomaniac is the unofficial <a href=\"https:\/\/economictimes.indiatimes.com\/markets\/cryptocurrency\/beware-your-love-for-elon-musk-and-dogecoin-may-land-you-in-a-scam\/articleshow\/84310717.cms?from=mdr\" target=\"_blank\">patron saint<\/a> of the crypto movement, which elevates this entire thing to a level of Shakespearean paradox.)<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">So while it\u2019s easy to write off either group as extreme (and maybe even insufferable, at their fringes), they\u2019re really just (very specific) manifestations of the same complaints levied during the Occupy Wall Street movement in 2011 by the \u201c<a href=\"https:\/\/en.wikipedia.org\/wiki\/Occupy_Wall_Street\" target=\"_blank\">99%<\/a>.\u201d&nbsp;&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">They\u2019re both disillusioned by the status quo, and in some ways, I think both groups feel they\u2019ve been fundamentally lied to about the way in which their lives were going to unfold.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Importantly, they both reject \u201cthe way things are\u201d as broken.&nbsp;<\/p>\n<h2 style=\"white-space:pre-wrap;\">Unfortunately, they arrive at vastly different solutions, because ultimately, they\u2019re identifying different core causes<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">The two paths diverge when we have to determine what the hell we do about it.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">The crypto bros are often <a href=\"https:\/\/qz.com\/1284178\/almost-half-of-cryptocurrency-and-bitcoin-bros-identify-as-libertarian\" target=\"_blank\">libertarians<\/a>, because their end goal is having basically <strong>no government at all<\/strong>. \u201cCode is law,\u201d or something.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Moreover, they <em>embrace<\/em> wealth accumulation\u2014they have no issue with being rich, they just feel there\u2019s now only one viable means of achieving it. Web3! While they acknowledge they\u2019ve been left off the first \u201crocketship\u201d (you know, the fiat one), the general consensus is that crypto is the chance to catch the second one. (Maybe that\u2019s where the Elon fascination comes from?) And if you\u2019re not on board, you can \u201chave fun staying poor.\u201d<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">On the flip side, socialism would suggest a unilaterally strong public sector, because\u2026everything would be the public sector. In <a href=\"http:\/\/investopedia.com\/terms\/s\/socialism.asp\" target=\"_blank\">pure socialism<\/a>, there\u2019s no private sector (because there\u2019s no private ownership), which means <strong>everything is government<\/strong>.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">It\u2019s interesting that the Birks and the Bros arrive at such opposite <em>conclusions<\/em>, given their shared premise: Our problems flow from the corruption, disproportionate riches, and\u2014maybe\u2014incompetence at the metaphoric \u201ctop.\u201d<\/p>\n<h2 style=\"white-space:pre-wrap;\">For the Birks, capitalism (and all it signifies) as a broad and nebulous <em>system<\/em> is to blame for the private-ownership-gone-awry issues, so total rejection is the solution<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">The Gen Z TikTok socialists at least <em>claim<\/em> to reject material wealth and its spoils (though I find this dubious, as critics point out they often use new iPhones to film the videos in which they\u2019re sipping Starbucks or using something they bought from Amazon). In spirit, though, it can be a very \u201cvan life-y\u201d sentiment\u2014that you don\u2019t need <em>things<\/em> or <em>material goods<\/em> (read: wealth) to be happy, and that accumulating money is a shitty way to spend your life (and maybe even a little immoral).<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">That, sure, the government as it exists <em>today<\/em> within the context of our private ownership economy may be a runaway hot mess express, but if we just ditch private enterprise altogether and institute universal basic income, that should mostly fix the issue.&nbsp;<\/p>\n<h2 style=\"white-space:pre-wrap;\">For the Bros, the vague concept of \u201ccentralization\u201d is the issue, so \u201ctaking the power back\u201d is akin to accumulating wealth in another way<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">Perhaps nobody embodies this ideology more than the now-fallen-from-grace <a href=\"https:\/\/www.axios.com\/2022\/11\/19\/the-hit-to-effective-altruism\" target=\"_blank\"><span style=\"text-decoration:underline\">Scam Bankrun-Fraud<\/span><\/a>.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Sam\u2019s solution for a fucked-up world? Become a privately wealthy crypto trillionaire and then give all the money away (it\u2019s still up in the air whether effective altruism was a genuinely held belief that led him to \u201cborrow\u201d <a href=\"https:\/\/www.theverge.com\/2022\/11\/10\/23451484\/ftx-customer-funds-alameda-research-sam-bankman-fried\" target=\"_blank\">$10 billion<\/a> from his investors <em>or<\/em> if it was a clever branding ploy all along).&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Regardless, it\u2019s capitalism reimagined in 0s and 1s\u2014positing that new \u201cgood actors\u201d who become independently ultra-wealthy can fix the issues that our existing ultra-wealthy individuals\u2026can\u2019t?<\/p>\n<h2 style=\"white-space:pre-wrap;\">What if there were a better way?<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">Mike Green, a macro wealth management guy, captured this strange overlap perfectly when he expressed his frustration at being attacked constantly by the bitcoin crowd in an <a href=\"https:\/\/moneywithkatie.com\/wp-content\/uploads\/2022\/12\/mike-green-2-podcast-transcript.pdf\" target=\"_blank\"><span style=\"text-decoration:underline\">interview<\/span><\/a> (edits my own for clarity and brevity):<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">\u201cI\u2019ve recently come out against bitcoin in terms of the impact that I think it\u2019s ultimately having on a variety of fronts. The anger and nastiness that gets thrown at me from people who <strong>simultaneously call me a capitalist pig and a member of the 1%<\/strong> and representing the status quo and from another group of people who are screaming that <strong>I\u2019m a socialist <\/strong>and that <strong>I\u2019m a communist<\/strong> and trying to\u2026(trails off) It\u2019s just coming from all directions.\u201d<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">How else do we arrive at this place where a hedge fund big shot is lambasted as <em>both<\/em> a capitalist 1% pig <strong>and<\/strong> a socialist? <em>Unless<\/em> there\u2019s a great deal of confusion and overlap between these two movements? How else do we get here, considering these two schools of thought appear to be embittered about the same things?<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">I\u2019d argue the vast majority of complaints that the Bros and the Birks agree on are a <em>consequence <\/em>of the same real issue that we <em>mostly<\/em> ignore in the lofty moral and mythical discussions of socialism and Bitcoin: rampant corporate and financial deregulation beginning in the 1970s and 1980s.&nbsp;<\/p>\n<h2 style=\"white-space:pre-wrap;\">Deregulation (and all its related practices)<\/h2>\n<p class=\"\" style=\"white-space:pre-wrap;\">The problems that both groups point to as emblematic of our downfall\u2014the riches of those at the very top, corruption, and to some extent, the expansionary monetary policy that\u2019s mostly served as a reaction to clusterfuck economic black swans like the Global Financial Crisis\u2014can all be directly or indirectly traced to 40 years of heavy-handed deregulation that made it easier to do everything from large-scale gambling with <a href=\"https:\/\/www.congress.gov\/bill\/106th-congress\/house-bill\/5660\" target=\"_blank\"><span style=\"text-decoration:underline\">risky financial instruments<\/span><\/a> (which contributed to the housing crisis and generally has the effect of privatizing gains but socializing losses) to manipulating stock buybacks to drive glutted executive pay (which comprises a large part of the hundreds of millions that CEOs in the US earn each year).<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">A completely <em>unregulated<\/em> system would only serve to exacerbate the problem (as the FTX <a href=\"https:\/\/economictimes.indiatimes.com\/prime\/money-and-markets\/a-greed-story-how-ftx-crash-became-the-lehman-brothers-moment-for-crypto-exchanges\/primearticleshow\/95494095.cms\" target=\"_blank\">meltdown<\/a> has more or less exemplified with comic precision), and a socialist system would probably ensure there\u2019s not much wealth to fight over (as the Bros are quick to point out by referencing <a href=\"https:\/\/www.nytimes.com\/2019\/01\/25\/opinion\/venezuela-maduro-socialism-government.html\" target=\"_blank\">Venezuela<\/a>). Neither group\u2019s solution addresses the heart of the problem without introducing a host of new ones.&nbsp;<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">It would be too easy (and let\u2019s be honest, predictable) for me to go on a Scandinavian power trip and suggest we merely adopt some of the balanced \u201ccuddly capitalist\u201d principles, beef up the corporate and financial regulations, and move on\u2014after all, the US is ideologically a very, very different place than, say, Denmark.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">But I think these two seemingly contradictory corners of the internet\u2014encapsulating both the Elon bootlickers with rocketship emojis in their profiles <em>and<\/em> anti-capitalist girlies with #EatTheRich in their bios\u2014have more in common than they think.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">Now, if only we could get them to join forces and reignite the \u201c<a href=\"https:\/\/en.wikipedia.org\/wiki\/We_are_the_99%25\" target=\"_blank\">We are the 99%<\/a>\u201d spark to fight for regulation, close tax code loopholes, <a href=\"https:\/\/schiff.house.gov\/news\/press-releases\/congressman-schiff-introduces-constitutional-amendment-to-overturn-citizens-united\" target=\"_blank\">overturn Citizens United<\/a>, and address some of the other root policy issues at play\u2026so close, and yet so far.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>tl;dr \u201cA completely unregulated system would only serve to exacerbate the problem (as the FTX meltdown has more or less exemplified with comic precision), and a socialist system would probably ensure there\u2019s not much wealth to fight over (as the Bros are quick to point out by referencing Venezuela). Neither group\u2019s solution addresses the heart [&hellip;]<\/p>\n","protected":false},"featured_media":2490,"template":"","meta":[],"categories":[12],"tags":[],"class_list":["post-80","essays","type-essays","status-publish","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Bros &amp; Gen Z TikTok Socialists are Two Sides of the Same Movement - Money with Katie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/moneywithkatie.com\/essays\/crypto-bros-and-gen-z-tiktok-socialists-are-two-sides-of-the-same-movement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Bros &amp; Gen Z TikTok Socialists are Two Sides of the Same Movement - Money with Katie\" \/>\n<meta property=\"og:description\" content=\"tl;dr \u201cA completely unregulated system would only serve to exacerbate the problem (as the FTX meltdown has more or less exemplified with comic precision), and a socialist system would probably ensure there\u2019s not much wealth to fight over (as the Bros are quick to point out by referencing Venezuela). 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