72 - The Power of Mimetic Desire | Luke Burgis
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 5 July 2021
⏱️ 107 minutes
🧾️ Download transcript
Summary
Luke Burgis is an author, entrepreneur, and professor. In his new book Wanting, Luke discusses the mimetic (mimicking) roots of our desires and behaviors. Viewing our species from this lens yields a vast wealth of insights about the nature of society, and we discuss how the internet (and crypto) pose to dramatically shift our understanding of these things.
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BANKLESS PODCAST #72: The Power of Mimetic Desire
Guest: Luke Burgis
When we explore what crypto is all about, it often brings us back to the fundamental questions. What is money? What is value? What are the characteristics of a good society? In our conversation with Luke Burgis, we dive even deeper: what drives our basic desires and behaviors? Luke makes an incredibly compelling argument that the root of our wants and perceived needs derive from Mimetic Desire -- the idea that we look to others and mimic what they do.
Mimetic desire appears to emerge among all successful social species. As humans, we learn how to exist in a society by observing and processing those around us. Our parents, friends, and communities at large all collectively inform how we perceive the world around us. In this model, the individual melts away, and instead, we become interdependent nodes in a network of ideas, ideologies, actions, and behaviors. We often want things because others want them. Although rationality certainly plays a role, it takes a back seat to the more immediate and salient driving forces of mimesis.
How does this relate to crypto in particular? Well, mimesis certainly drives the patterns we find in markets: speculation and adoption are both functions of mimetic desires. This model also applies more broadly when we consider the coordinative power of the internet and blockchains. If we accept mimesis on the aggregate and individual scale, we can more fully grasp the scale and scope of these new social and economic technologies.
Hot off the release of his book 'Wanting: The Power of Mimetic Desire in Everyday Life,' Luke is fascinated by the potential of blockchains to revolutionize how we interact and function as a species and society. However, Mimetic Desire won't be going anywhere anytime soon.
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Topics Covered:
0:00 Intro
6:50 Luke Burgis
9:05 What is Mimetic Desire?
16:25 Modeling Desire
23:35 Coping with Abundance
27:19 Collective, Shared Desires
31:30 Genes & Memes
37:25 Mimetic Desire & Memes
45:20 Subjective Scarcity & Rivalries
54:24 The Internet & Mimetic Desire
1:01:00 Bitcoin and The Role of Money
1:12:10 Wealth is What You Want
1:17:43 Markets, Bubbles, Mania
1:26:58 Rivalrous Communities
1:33:00 Mimetic Bubbles & Reflexivity
1:39:45 Algorithms Determining Outcomes
1:43:49 Legitimacy
1:48:40 What about Rationality?
1:52:22 The Take on Crypto
1:55:20 Closing & Disclaimers
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Resources:
Luke on Twitter
https://twitter.com/lukeburgis?s=20
Luke’s Newsletter
https://read.lukeburgis.com/
Wanting on Amazon
https://www.amazon.com/Wanting-Power-Mimetic-Desire-Everyday/dp/1250262488/
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:17.0 | This is how to get started, how to get better, and how to frontrun the opportunity. |
| 0:21.0 | I'm Ryan Sean Adams, I'm here with David Hoffman, and we're here to help you become |
| 0:25.8 | more bankless. David, what an episode, really cool lens on crypto, memetic desire. What |
| 0:33.1 | did we cover today? |
| 0:34.1 | We brought on Luke Burgess, who wrote this book, wanting the power of memetic desire. |
| 0:39.1 | And this came on my radar when I was listening to Luke on Hidden Forces, the Hidden Forces |
| 0:43.0 | podcast. We had a Dimitri Cuffinus on, and that is a past episode. And I immediately knew |
| 0:47.9 | that we needed to get this guy on bankless because he's talking about some of these |
| 0:51.2 | very core fundamental things that we talk about on bankless at times, but in a different |
| 0:55.9 | lens. And also, I think Luke talks about it just in a little bit more clear and articulate |
| 1:00.5 | way. The conversation of what memetic desire is is both important for anyone anywhere |
| 1:06.9 | to understand, but it's especially important in crypto, where some of these assets are |
| 1:11.6 | particularly valued by reflexivity or by groupthink or by collective psychology. We all know |
| 1:18.1 | in the world of crypto, you survive by understanding multiple different disciplines. This is a very |
| 1:22.8 | multidisciplinary industry. And the power of memetic desire transcends all disciplines, |
| 1:28.5 | all academic studies. And it applies to crypto in so many different respects. And so we brought |
| 1:33.1 | Luke on to talk about and teach the bankless nation what is memetic desire? How does it impact |
| 1:38.3 | our lives? And then we frame it in a crypto conversation in the second half of the show. |
| 1:42.7 | Yeah, David, early on, you know, we've always been starting bankless. We've known that memes |
| 1:47.4 | are important to this entire industry. And so early on, we did an episode on memes that |
| 1:52.6 | was sort of interesting episode five, but it didn't have like a ton of research. It was just |
... |
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