Abstract
It is increasingly difficult to distinguish investing from entertainment or other consumer experiences. Perhaps the ultimate symbols of this convergence are new sports betting sites that emulate the stock market by depicting teams, athletes, or prop bets as tradable “stocks” like shares of Apple or GM. By borrowing the imagery of the stock market to make gambling more entertaining, this product positioning turns the old investing-as-gambling metaphor on its head and speaks to the current playful atmosphere of retail investing. Complementing Professor Andrew Schwartz’s thorough and insightful new book, Investment Crowdfunding, this essay brings to the forefront a range of nonfinancial, or “psychic,” benefits from democratized investing.
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Psychic Income & Democratized Investing