Fame and Money Velocity

Was reading an interesting tidbit on the Internet yesterday about the misbehavior of the CEO of Chipotle. I’ve never cared for or about Chipotle, personally. You don’t need them after you to go the El Paso Taqueria on Blair Street, anyway. The negative notoriety reinforces something I’ve known for a long time about fame and why it’s not something I’ll personally chase, regardless of what happens with the writing.

To help understand this, I drew from something in my high school economics class, the velocity of money, or VoM for short. VoM measures the speed at which money changes hands, and is an indicator of the health of any economy. You can actually make money off of the VoM, if you time it correctly. If you understand that, you can also understand that fame also has a velocity, and that people make money off of this, too. The speed at which the public becomes aware of something, positively or negatively, is about 99% of the infotainment industry.

TMZ, Radar Online, Perez Hilton … they all make their money off of turning scandals and lurid stories into news. The teen pop superstars of 2016 are the teen diva meltdowns of 2017. ‘Cause Marketing’ turns cancer victims into a profit center. Now, as the unfortunate CEO of Chipotle demonstrates, companies and corporate execs fall into the same bucket. Yesterday’s Wall Street darling is next week’s Bernie Madoff. Yesterday’s Jared from Subway is today’s Jared from Subway. Media outlets time their activity so they profit either way. The news cycle is designed to make money when your star rises. They’ll be back when your star is ready to fall.

I could easily fall into this mess and I don’t want to. So yeah, even though I want to get my name out there, and for people to read my work, I need to hold onto my skepticism and cynicism of media. I want to be precise about how I engage with people. Viral media is a bell you can’t unring. Precision takes time.