Connect with us

Social Media

When Did Greed Become Bad?

Published

on

2282872616_7956d89378

Greed

“… greed — for lack of a better word — is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms — greed for life, for money, for love, knowledge — has marked the upward surge of mankind. And greed — you mark my words — will not only save Teldar Paper, but that other malfunctioning corporation called the USA.

I loved this speech in Wall Street, and think Gordon Gekko did a nice job framing greed.

But, is greed still good?

I’m still with Gekko.  I am greedy … for life, love, knowledge and – yep, I’ll say it … money.

Lately, it seems to be chic to be satisfied with less, and to vilify highly paid executives.  Take for example the outrage over AIG executive bonuses.  Even lacking an accurate understanding of their roles within the organization, tenure, tasks, risks, etc. people were outraged by these “exorbitant” bonuses.  And the outcry they didn’t “deserve” to be paid that much money because “they caused the problem”.  Did they?  Why was that assumed? (NOTE: I’m NOT attempting to start a discussion on AIG or the bailout here, just serving an example.  But, read this for some perspective.)

Fueled by social media?

I do like the “village” mentality our economic woes seem to be creating.  I believe that mentality, coupled with the giving premise behind social media, has raised our altruistic consciousness.  As a result greed and undeserved excess seem to now be positioned as bad things.

Will work for money

Like real estate professionals, I’m a service provider.  As service providers, we must provide great service with fantastic results to remain in business.  To do that and for career longevity, we must keep the client’s highest and best interests at heart during the engagement/transaction.  Therefore, our intent is, at the core, good.  Like you, I work hard and am accomplished at what I do.  For this, I want to earn money – as much as I can.

Tell me, quickly!

Does that make me a pariah? If one is transparent that they are working to make a living/better life/achieve financial goals, is that considered unacceptable, particularly if one is active in social media?  Does one cancel out the other – like drinking a diet Coke and eating a candy bar (ok, not a good analogy).

I consider my philanthropic activities somewhat personal, based on my desire to leave a particular footprint.

Does social media require we describe ourselves leading with our philanthropy?

Brandie is an unapologetically candid marketing professional who was recently mentioned on BusinessWeek as a Top Young Female Entrepreneur. She recently co-founded consulting firm MarketingTBD. She's held senior level positions with GE and Fidelity, as well as with entrepreneurial start-ups. Raised by a real estate Broker, Brandie is passionate about real estate and is an avid investor. Follow her on Twitter.

Continue Reading
Advertisement
19 Comments

19 Comments

  1. Steve Trang

    June 12, 2009 at 3:47 pm

    Greed is good! I believe some time between the dot com bust, real estate bust, and now, we lost our footing. We no longer want to be the best. As a country, we only want to apologize. That’s too bad, because we will soon be mediocre.

  2. Ruthmarie Hicks

    June 12, 2009 at 8:19 pm

    Self interest is healthy – Out and out greed??? Not so much…
    The question is where exactly that line is drawn.

    This comes from the perspective of a former academic who is of the mind that all things are good in proper moderation. So I’ll give an example of where greed went bad – my former profession..

    I was a biomedical scientist – emphasis immunology/genetics. I have my sheepskin and in that field it takes 7-9 years of full time (80+ hours/wk) of indentured servitude to have the “honor” of calling yourself “doctor.” This investment pushes back the day in which you can start saving for your child’s education, your retirement, the point where you can buy a home – you name it. So the “deal” always was that those who were truly qualified would work hard – but be able to enjoy their work. There wouldn’t be much money – but a decent middle class life with a rewarding career was standard. I would have taken that – but greed got in the way.

    Many established academics as well as those in the private sector saw a gold mine in exploiting thousands of foreign nationals who came over in droves to be “educated” (read exploited) in the US. Academia bloomed with far more students than there would ever be jobs. Academic institutions exploited government grants as did individual investigators. What was once a small collaborative lab became a factory like setting with about 30 grad students and post-docs protecting their turf and doing redundant (not to mention expensive) experiments because cooperation had been thrown out the window in favor of “survival.” The glut of scientists has created a royal and exploitive mess. There are brilliant people with doctorates doing important cancer research 80 hours a week for less than $40k a year – and this goes on for 10+ years AFTER the doctorate. Then our country looks around and whines..”Why won’t anyone become a scientist? Why do we have to import all our engineers?” Blah, blah, blah – because the greed of a few academics and industry CEOs destroyed the careers of many. They also decimated our creative brain trust – which is no benign thing.

    Real estate analogy….Stuffing your brokerage with anyone who has a pulse and a license. That is greed writ large. Big splits for the brokerage – but what does it offer the public that said brokerage serves? Not much. It may be a business model, but its a bad one. It’s allowed the standards to slip into the toilet while it has made a few brokerages rich. It has contributed to Realtor-bashing because unfortunately, a lot of the bashing has its basis in truth. I’ve seen complete blithering imbeciles join brokerages hoping to make “big money” with no effort at all. They are let loose on the unsuspecting public – and that public is pretty darn pi$$ed off about it! It has undermined the value of a good professional in the eyes of the public and it has also made it far more difficult for professionals in our area to actually earn a LIVING. Its driven up marketing costs as dabblers each take in 0-2 deals per year.

    So – self interest – GOOD. Had I not had some kind of self interest, I’d be LIVING in a lab because I couldn’t afford rent. Greed – not so much, because to me – greed implies exploiting others to get more for yourself…but that’s my definition of greed.

  3. Ruthmarie Hicks

    June 12, 2009 at 8:52 pm

    PS – totally LOVE the picture of Michael Douglas with the SUPER-SIZED cell phone! These days I think my iPhone is a “big phone.” Hilarious…

  4. Bob

    June 13, 2009 at 10:32 pm

    One dictionary definition:
    “excessive or rapacious desire, esp. for wealth or possessions.”

    To answer your question in context requires your definition of the word.

    Aside from challenging the notion that we don’t understand the workings of AIG and therefore are not qualified to judge, I believe the general public view of corporate greed brings to mind Enron completely screwing both their employees and tons of people who were hard hit financially as a result of their business practices, CW’s Mozilo manipulating Wall Street (conning the con), Exxon making $40b in a quarter while we pay $4 a gallon for gas, or Bernie Madoff.

    In my industry I have seen greed manifested recently with loan mod and foreclosure scams. In the not so distant past, the mortgage broker in Texas who tried to charge my elderly mother 5 points for for a Heloc when the market for her should have been 1 point. After Katrine we saw greed power price gouging and fake charities.

    I’m not sure why you are trying to draw a connection between social media and one’s moral compass. though. Greed as defined in my first sentence has always been considered to be a bad thing by many- a vice.

    Greed as defined by Gordon Gecko required him to accomplish his goals by gutting companies. In real life we have seen companies raped by evangelists of greed like Gecko – pillaging pension funds and leaving broken and bankrupt people in their wake.

    “I do like the “village” mentality our economic woes seem to be creating. I believe that mentality, coupled with the giving premise behind social media, has raised our altruistic consciousness. As a result greed and undeserved excess seem to now be positioned as bad things.”

    Again I dont see the connection between SM and our altruistic consciousness. Our altruistic consciousness was the basis for the movie “It’s A Wonderful Life”, which was basically a battle of greed vs happiness brought about by goodness.

    I also found curious the sentence, “As a result greed and undeserved excess seem to now be positioned as bad things.” Maybe it’s just me, but ‘undeserved’, ‘excess’, and ‘greed’ all have negative connotations to them. Lumped together, why wouldn’t they be positioned as bad?

    @Ruthmarie – I loved your comments.

  5. Brandie Young

    June 13, 2009 at 11:27 pm

    Steve – good to hear from you. Interesting you should say that about the country apologizing. I had quite a long conversation about that very topic the other night with @RobHahn.

    Ruthmarie – l appreciate your thoughts, and your perspective is interesting given your background. My intent in this post was not directed at the acts by corporations. It was actually around what you describe as “self interest”. I guess it all depends on how we define greed. My definition was as I stated – greed for life, love, knowledge and money.

    Hi Bob – thanks for weighing in. Sorry my post didn’t resonate/wasn’t clear. I will try to explain a couple points, the others may need to remain a mystery.

    My definition was as I wrote: greed for life, love, knowledge and money. To me, that means wanting as much of each as possible. Just as I replied to Ruthmarie – I wasn’t talking about corporate greed (or corruption/dishonesty). Enron, Angelo and your other examples are incidents of criminal activities. While they were likely fueled by greed, it was the act that was wrong. I don’t think a desire for more is wrong, but rather how you go about getting it.

    The connection I was making between greed and social media: with the “giving” premise at the core of social media, it seems many position themselves as philanthropic, yet they broadcast without giving. So, their actions are not inline with their positioning.

    As far as “undeserved” excess. That’s subjective. I don’t feel it’s my call to decide how much execs or anyone else earns.

  6. Bob

    June 14, 2009 at 8:21 am

    “greed for life, love, knowledge and money”

    That doesn’t define greed – it just states the objectives of your greed.

    At the end of the day, it’s all subjective. Unlike the directional compass that is supposed to point to true north, there is no globally accepted true north for the moral compass.

  7. Karen Rice

    June 14, 2009 at 8:54 am

    Greed has always been a negative thing. There are other words to use that are not so negative – ambitious, passionate, driven…

    I would never describe myself as “greedy” even though I am striving to earn more than I currently have. I am unwilling to take what I do not deserve, I am unwilling to break ethical boundaries to get what I am working toward, I am unwilling to take what is not mine.

    A greedy person thinks only of himself and his goals, without having any thought for the people he hurts or takes away from while on his way to the top.

  8. Bill Lublin

    June 14, 2009 at 2:08 pm

    Brandie;

    I am trapped by a desire to agree and disagree with you at the same time. And I think its more about the choice of words than it is about the conceptual position you take.

    I come from a ‘fiscally challenged” background – and worked hard and without apology to provide a good living for me family. I always wanted as much as I could earn – and I don’t think that has anything to do with greed. As an unashamed entrepreneur , I take risk, and should receive the reward. Abd even though I consider myself generous and participate in charitable endeavors, and help my friends and families as they need, I don’t think that has to do with greed either. (I agree with your diet coke analogy , though in my case it would be a piece of cake and a diet coke – and yes they do cancel out – don’t they?)

    Where I have a problem with greed, is that to me greed is when you want what you don’t need – and when I say you don’t need it, I’m even talking about the psychological need. You can’t live in more than one house at a time, but if you can afford 2 or 3 houses, so what – go for it- But when you need to have something that you can’t possibly use or enjoy or any level – and the acquisition (with n o other purpose) becomes the end in and of itself -that greed, the denial of a resource to another with no true gain is not a good thing – and has nothing to do with what someone may or may not “deserve” in our opinion.

  9. Ken Brand

    June 15, 2009 at 9:42 pm

    From what I can tell your desire for money is not greed.

    If you create your wealth from serving others then it’s a generally a good thing.

    Greed is sorta like porn…it’s defined differently by different people…it’s hard to define the tipping point, but generally speaking there is a threshold where most all would agree, you know it when you see it.

    I don’t think you’re greedy. Plus it sounds like you don’t really have a desire for money, you have a desire for the things money can do for you and your loved ones.

Leave a Reply

Your email address will not be published.

Social Media

*New* TikTok Insights launch: Content creators finally get audience analytics

(SOCIAL MEDIA) The popular short-form app, TikTok, finally launches the anticipated Insights feature, where content creators can view target audience data.

Published

on

Two girls filming on TikTok.

Marketers searching for the zeitgeist which means TikTok scrollers pause to watch their content and then click through to buy a product have a new tool to help make that happen.

  • TikTok Insights offers marketers bite-size bits of user demographic information that will help build content that leads to sales.
  • With TikTok Insights you can learn more about your audience’s behavior, their interests, and their general sentiment toward brands.
  • TikTok Insights is free to use. Marketers can find TikTok user demographics by using filters to determine what they’re looking for.

The demographic info can be age-focused, focused on specific types of marketing, or even as specific as holiday or event marketing.

This is a step in the direction marketers have been asking for as they create content for the TikTok platform; however, creators looking for detailed analytics like they get from meta need to wait. Insights doesn’t offer that for now.

Like TikTok says in its own analytic information,

“While analytics are helpful in understanding the performance of your videos, you don’t need to create future videos based primarily around them. It’s best to consider the bigger picture, lean lightly on analytics, and use them as a source for insight rather than strategy.”

Marketers trying to key into reaching TikTok’s billion users worldwide are left, right now, searching for the magic that leads to consumers making the jump from the platform to using their purchasing power.

For marketers that means keeping things creative and collaborative, two key factors in TikTok’s success. And that success is huge. Users spend an average of 52 minutes on the platform when they log in and a staggering 90% of users say they log on every day.

TikTok Insights will help marketers find ways to connect, but the content TikTok is looking for is authentic.

And while entrepreneurs can bid for advertising like other social media platforms, they need to remember when planning that spend, that most TikTok marketing success stories are more accidental than planned. Have fun with that knowledge. Instead of pressure to create the perfect plan, TikTok Insights allows marketers to keep it creative and to find a way to tie it into what they enjoy about the platform.

Like all other social media marketing, focus on creating content that stops the consumer from their continual scroll. Make it a challenge and keep it real.

Continue Reading

Social Media

Grindr got busted for selling users’ data locations to advertisers

(SOCIAL MEDIA) User data has been a hot topic in the tech world. It’s often shared haphazardly or not protected, and the app Grindr, follows suit.

Published

on

Grindr on phone in man's hands

If you’re like me, you probably get spam calls a lot. Information is no longer private in this day and age; companies will buy and sell whatever information they can get their hands on for a quick buck. Which is annoying, but not necessarily outright dangerous, right?

Wrong.

Grindr has admitted to selling their user’s data, however, they are specifically selling the location of their users without regard for liability concerns. Grindr, a gay hook-up app, is an app where a marginalized community is revealing their location to find a person to connect to. Sure, Grindr claims they have been doing this less and less since 2020, but the issue still remains: they have been selling the location of people who are in a marginalized community – a community that has faced a huge amount of oppression in the past and is still facing it to this day.

Who in their right mind thought this was okay? Grindr initially did so to create “real-time ad exchanges” for their users, to find places super close to their location. Which makes sense, sort of. The root of the issue is that the LGBTQAI+ community is a community at risk. How does Grindr know if all of their users are out? Do they know exactly who they’re selling this information to? How do they know that those who bought the information are going to use it properly?

They don’t have any way of knowing this and they put all of their users at risk by selling their location data. And the data is still commercially available! Historical data could still be obtained and the information was able to be purchased in 2017. Even if somebody stopped using Grindr in, say, 2019, the fact they used Grindr is still out there. And yeah, the data that’s been released has anonymized, Grindr claims, but it’s really easy to reverse that and pin a specific person to a specific location and time.

This is such a huge violation of privacy and it puts people in real, actual danger. It would be so easy for bigots to get that information and use it for something other than ads. It would be so easy for people to out others who aren’t ready to come out. It’s ridiculous and, yeah, Grindr claims they’re doing it less, but the knowledge of what they have done is still out there. There’s still that question of “what if they do it again” and, with how the world is right now, it’s really messed up and problematic.

If somebody is attacked because of the data that Grindr sold, is Grindr complicit in that hate crime, legally or otherwise?

So, moral of the story?

Yeah, selling data can get you a quick buck, but don’t do it.

You have no idea who you’re putting at risk by selling that data and, if people find out you’ve done it, chances are your customers (and employees) will lose trust in you and could potentially leave you to find something else. Don’t risk it!

Continue Reading

Social Media

BeReal: Youngsters are flocking in droves to this Instagram competitor app

(SOCIAL MEDIA) As Instagram loses steam due to its standards of “perfection posting,” users are drawn to a similar app with a different approach, BeReal.

Published

on

social media - bereal app

BeReal is one of several “Real” apps exploding in growth with young users who crave real connections with people they know in real life.

According to data.ai, BeReal ranks 4th by downloads in the US, the UK, and France for Q1 2022 to date, behind only Instagram, Snapchat, and Pinterest.

BeReal flies in the face of what social media has become. Instead of curated looks that focus on the beautiful parts of life, BeReal users showcase what they’re doing at the moment and share those real photos with their friends. Their real friends.

It’s real. And real is different for a generation of social media users who have been raised on influencers and filters.

As the app says when you go to its page:

Be Real.

Your Friends

for Real.

Every day at a different time, BeReal users are notified simultaneously to capture and share a Photo in 2 Minutes.

A new and unique way to discover who your friends really are in their daily life.

BeReal app

The app has seen monthly users increase by more than 315% according to Apptopia, which tracks and analyzes app performance.

“Push notifications are sent around the world simultaneously at different times each day,” the company said in a statement. “It’s a secret on how the time is chosen every day, it’s not random.”

The app allows no edits and no filters. They want users to show a “slice of their lives.”

Today’s social media users have seen their lives online inundated with ultra-curated social media. The pandemic led to more time spent online than ever. Social media became a way to escape. Reality was ugly. Social media was funny, pretty, and exciting.

And fake.

Enter BeReal where users are asked to share two moments of real life on a surprise schedule. New apps are fun often because they’re new. However, the huge growth in the use of BeReal by college-aged users points to something more than the new factor.

For the past several years, experts have warned that social media was dangerous to our mental health. The dopamine hits of likes and shares are based on photos and videos filled with second and third takes, lens changes, lighting improvements, and filters. Constant comparisons are the norm. And even though we know the world we present on our social pages isn’t exactly an honest portrayal of life, we can’t help but experience FOMO when we see our friends and followers and those we follow having the times of their lives, buying their new it thing, trying the new perfect product, playing in their Pinterest-worthy decorated spaces we wish we could have.

None of what we see is actually real on our apps. We delete our media that isn’t what we want to portray and try again from a different angle and shoot second and third and forth takes that make us look just a little better.

We spend hours flipping through videos on our For You walls and Instagram stories picked by algorithms that know us better than we know ourselves.

BeReal is the opposite of that. It’s simple, fast, and real. It’s community and fun, but it’s a moment instead of turning into the time-sink of our usual social media that, while fun, is also meant to ultimately sell stuff, including all our data.

It will be interesting to watch BeReal and see if it continues down its promised path and whether the growth continues. People are looking for something. Maybe reality is that answer.

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!