🎲 Maybe We're All Degenerates

What Do You Do When Life is Just One Big Parlay? Plus, A New Episode of the Real Househusbands of North America Just Dropped

Author

Katie Perry
March 13, 2025

Welcome to Tuesday Thursday Saturday! Three times a week, I share a snapshot of trending stories across business, tech, and culture. Subscribe and tell me what you want to hear about next! - KP

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The Big Story: When Did Everything Become a Betting App?

When I first started working in fintech (fall 2019), there were clear delineations between the various “types” of retail investors. For the most part, you had day traders and long-term investors. Day traders wanted to make money in the short term. Investors were on a mission to build wealth. Day traders drank Monster and quoted Jordan Belfort. Investors took their vitamins and worshipped Warren Buffett.

And as for crypto investors back then — well, they were an island of misfit toys that included everyone’s one friend who bought bitcoin from an ATM in 2014 and never looked back. (Everyone please say hi to Taylor!)

Five-plus years later, these distinctions are completely scrambled. Most people under the age of 45 have at least one form of “betting app” on their phones — be it Robinhood $HOOD ( ▲ 4.23% ) or DraftKings $DKNG ( ▲ 2.98% ) — if not several. People utilize different strategies, platforms, and asset types for different reasons. And you can bet on basically anything. Stocks, sports, elections…

In the public markets, you can bet on a long-term mega-trend — or, on an earnings call result. In crypto, you can bet on the long-term viability of a particular asset — or, on whatever shitcoin-du-jour Dave Portnoy is trotting out. You can bet on the success of an early-stage startup with just a few hundred dollars. You can bet that Luka will have an off-game. You can even bet that the value of goddamn Stegosaurus skeleton will go up. 🦕

So, when did everything become a bet, or a bit, depending on how you look at it? The confluence of democratized trading experiences, sports betting being unleashed in the United States, and the wild and wacky nature of Internet culture are together making everything one big game. Welcome to the Polymarketization of America.

Of course, the United States’ long-standing love affair with making a quick buck is well-documented. Instead of mining land for gold, today we’re all scouring the internet for easy money. And there’s plenty to be had! And then there are the very astute among us who are watching people hunt for gold while simultaneously selling, or investing in, the picks and shovels. We still have cowboys. We still have robber barons.

In the present game — something Howard Lindzon calls the ‘degen economy’ — one of the most boring investing adages becomes increasingly important, and that’s knowing your objectives. And yet, sometimes, compartmentalizing what we’re truly after feels near impossible — especially when all of these behaviors are happening concurrently on one device, and sometimes, in a single app. The struggle between what you want right now and what you want in the future is full of trade-offs ... and that’s true in both investing and in life.

A friend texted me earlier this week when the main indices were driving down toward a correction. He first asked about the safety and security of his long-term investments. Not even 24 hours later, he asked if he should buy puts on TSLA. 

Like my friend, we each contain multitudes, and deep down — even if we don’t want to admit it — we’re all at least a little bit degenerate. And I think that’s OK, so long as we have the self-awareness to spot it, contain it, and potentially use it for good.

(Sidebar: If you want to nerd out on retail investing behaviors specific to the public markets, Broadridge $BR has turned their Investor Pulse data into an interactive tool.)

Daily Rip Live Recap: We’re Still Picking on Canada, Inflation Cools Off, and Big Tech Goes Nuclear

Every weekday, Shay Boloor and I run down the biggest market news and events LIVE on Stocktwits’ morning show, The Daily Rip Live. Here’s what we recently covered:

Hear Shay and I yap about the markets every weekday at 9 a.m. ET on X (@stocktwits), YouTube, LinkedIn, or in your Stocktwits app. Follow me there — I’m @stocktwitsKP!

Now Here’s a Chart

Where inflation at?! Check out this handy view via Yahoo! Finance.

Reading List

🎧 Now playing: Keeping with the degenerate gambler theme of the day, I give to you: “Still the Same” by Bob Seger.

Tuesday Thursday Saturday is written by Katie Perry, owner of Ursa Major Media, which provides fractional marketing services and strategy in software, tech, consumer products, professional services, and other industries. She is also the co-host of Stocktwits’ Daily Rip Live show.

Disclaimer: The contents here reflect recaps and summaries of pre-reported or published data, news, and trends. I have cited sources and context for the information provided to the best of my ability. The purpose of the newsletter is to inform and educate on larger trends shaping business and culture — this is NOT investment advice. As an investor, you should always do your own research before making any decisions about your money or your portfolio.