Bankless Luke Burgis | Layer Zero
12 snips
Jun 14, 2022 
In this conversation, Luke Burgis, author of "Wanting," explores the fascinating concept of mimetic desire and its influence on human behavior and markets. He discusses how this desire shapes competition in the crypto world, driving risky behaviors and market trends. Luke also reflects on how social media accelerates these dynamics, highlighting the importance of awareness in navigating financial aspirations. Ultimately, he emphasizes the need for mindfulness in understanding and shaping one's true desires in a world of constant comparison.
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Meta-Mimesis
- Talking about mimetic desire can fuel more mimesis, ironically.
- Awareness of the mechanism doesn't stop it, as seen with NFTs.
Conviction and Mimesis
- High-conviction rallies are driven by strong fundamentals and shared belief.
- Low-conviction rallies, like NFTs, are driven by hype and speculation.
Leverage and Mimesis
- Leverage amplifies mimetic desire in markets, as people try to keep up with others' gains.
- It creates a dangerous cycle of trying to catch up and get ahead.
