Finance Twitter is filled with smart people, like Edwin Dorsey when it comes to short selling opportunities, and Ben Carlson when it comes to personal finance and investing. But recently, I'm finding that these people, along with many others, carry the absurd idea that Swifties are people that love Taylor Swift so much that anything she does, they will follow. Anything she says, they'll believe. As a Swiftie and as someone that is surrounded with Swifties, we believe that they lack substance in their ideas and they truly do not understand how the Swiftie community is like.
Here is a display of two tweets, from the two finance influencers, displaying their ignorance for Swifties:
Let's talk about Exhibit A. Edwin Dorsey carries the absurd notion that whatever Taylor Swift does with her life, the rest of the Swifties will follow. FALSE. Taylor Swift's life choices don't dictate others' paths. While her journey may be celebrated, it won't spark a baby boom. Life decisions are personal, not influenced by celebrity events. Real-life factors drive major life choices, not a single public figure's experiences.
Recession or not, Taylor Swift's life events won't push people to get married ASAP, get pregnant ASAP, buy a home ASAP. When Taylor Swift moved to New York City, did it spark a boom in migration to NYC? Nope. When Taylor Swift donates millions to local food banks after every concert, did the Swifties donate huge sums of money to those same food banks? Nope. As Taylor Swift went from one relationship to the next, did the Swifties do the same by jumping from one relationship to the next? Big Nope. If the Swifties weren't mimicking the small actions of Taylor Swift, they clearly won't be trying to mimic Taylor Swift when she does big actions in life like get married and build a family.
Taylor Swift getting married and having kids won't be enough to spark a boom in sales for $CRI $SIG
Now let's talk about Exhibit B. Taylor Swift is officially a billionaire as of recently. The economy is slowing by some metrics and contracting in other metrics. When billionaires say that things are great, everyone else goes, "yea, it's great for you because you're a billionaire and not in the middle class." If Taylor Swift were to say the economy is in great shape, people, including Swifties, will call her out for saying that by pointing to her billionaire status, her not doing much to fight LiveNation and their abuse of ticket pricing power, and point to the other metrics that show that the economy isn't doing well. If there's a scenario I see that's likely to happen, it's that class division will worsen if Taylor Swift starts commenting on how great the economy is. Swifties in the upper class will agree with her and Swifties in the middle and lower class will disagree with her.
If there's a way to summarize these finance influencers' Swiftie-related ideas, it's that they're comparable in absurdity as the investment theses that AMC/GME apes post on social media. The wise investors know that the farthest impact Swifties will bring to the economy collectively are constrained in music streaming, merch sales, hotels, concert tickets, and flights. That's it. They won't boost demand for fertility treatments and baby diapers. They won't manipulate economic statistics like sentiment readings. Those that actually believe Edwin Dorsey and Ben Carlson's tweets on Swifties clearly don't know them well.