Weekend Reads: Going viral, emotional investments, and corrupt politicians
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This weekend, take a step back from your hectic weekday life to read about going viral and mob mentality on the internet. Then, move on to personal finance topics. Learn about the emotional reasons we invest, the sneaky fees that can come with those investments, and then move over to the great debate over renting versus buying. End your weekend with a list of all of the politicians who have admitted to taking money from corporations. I promise it's less depressing than it sounds!
I went to art school and hung out with film kids, so I understand the desire to go viral, the idea that anything – yes, even your stupid YouTube video – can picked up and carried so far that you completely lose sight of it. Pacific Standard also covers the bad side of going viral. If you're a woman on the internet, for example, you basically want none of your writing to go viral. Men and women inherently experience the internet in different ways, and their perception of "going viral" underscores that.
Of course, content isn't the only thing that can go viral. The internet has made it easier than ever to spread rage and the mob mentality. While most would probably agree that Cecil's killer should be punished to the fullest extant of the law, do we really want (or trust) the internet to dole out the punishment? If you want to read more about the internet shame machine, I suggest checking out Jon Ronson's latest book, So You've Been Publicly Shamed.
It's hard to talk about your feelings when it comes to money. Actually, scratch that – it can be really hard to talk about any feelings. But when it comes to your investments, you need to understand the hidden desires that drive your behavior, even if it means a few uncomfortable conversations in the mirror.
Did you know that 9 in 10 Americans underestimate the fees in their 401(k) plans? Me neither, but after reading this article, it's not surprising – there are lot of a sneaky fees that some mutual fund managers and companies use to eat away at your profits. Here are the four most common that you should be on the watch for.
I already knew that I would stick with renting for a while, but that didn't stop me from being enthralled by Mr. Money Mustache's case study of renting versus buying in Toronto. Why would anyone want to own a house in Toronto? After reading this article, I'm really not sure.
The best piece of advice on this list? Rethink your wedding costs. Instead of spending upwards of $30,000 on a single party, spend way less, ask your friends for $30,000, and invest it in a Vanguard fund. If your friends don't want to give you $30,000, you can just sell the gifts they give you. I'm sure that toaster will fetch a pretty penny on eBay.
Will data be able to fix all our woes? This article makes a good case against data transparency in medicine – or at least, data transparency without context. When a doctor boosts their stats by turning away riskier patients, are they really a better doctor? If doctors will be held accountable, how much should external factors be considered? As patients, we should be thinking about the ways our push for data can hurt our own chances at being healed.
It's public knowledge that money and corporations control politicians, but did anyone expect them to come out and actually say it? These politicians did, and The Intercept has done us all a favor and collected the quotes into a single list. Remember a quote that isn't in the article? Email them to the author to have them added to the list.Image: El Coleccionista de Instantes Fotografía & Video
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