NEW DELHI If everything on earth were rational, nothing would happen."-Fyodor Dostoevsky
Time: 5.30 pm, early May Place: Pitampura, north-west Delhi People wait anxiously in front of a roadside food cart. The long, long queue spills over from the pavement onto the street, leaving bikes, cars, cows and canines jostling for space on the narrow road. A few paces ahead, half a dozen vloggers are filming the cart and the surrounding chaos.
Across the road, some more YouTubers are dishing out raucous 'food reviews' for their presumably famished audience. Some poor souls, tired of the long wait, are reluctantly trickling out of the line, but many more are queuing up animatedly, resulting in the congregation getting bigger (and noisier) with every passing minute.
After about an hour of push-and-shove, you finally manage to get your hands on the Holy Grail. No, it was not some piece of gastronomic masterpiece whipped up on the streets of Delhi, but a humble vada pav with much to be humble about. The bread was soggy; the mint chutney lacked chutzpah; the mashed potato patty was an ode to mediocrity.
The only exceptional feature of the snack was its high price. And, not to forget, the 'viral' photogenic lady who sold it to you with a devastating smile.
Supply creating its own demand is a central tenet of classical economics. But if there is one force which is even more potent in creating demand, it is hype.
Just look at what happened on Dalal Street this year.
JUMPING ON THE BANDWAGON In investing, very few activities can match the exhilaration of boarding a hype train. The thrill of momentum, micro-bursts of dopamine and a galloping portfolio make for a heady cocktail. But the most important part of this game is not boarding the train but knowing when to get off.
Denne historien er fra December 23, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra December 23, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Adani sells ₹4,850-cr Adani Wilmar shares
The transaction saw massive demand from a diverse set of marquee int'l and domestic investors
India to be testbed for green technology
The Global Energy Alliance for People and Planet (GEAPP) plans to use India as a testbed for new decarbonization technologies that would then be commercially operationalized in other developing countries.
SC Stays Tax Notices of ₹1.5 tn to E-gaming Cos
The gaming companies and the revenue department both sought the stay
Sebi May Help FPIs Get a Taste for Gilts
For FPIs investing only in govt funds, Sebi would only ask for data which other authorities require for registration
Rupee hits new record low, slips to 85.97/USD
The rupee slipped to its all-time low on Friday as the dollar stood firm ahead of closely watched US labour market data, keeping regional currencies on the defensive.
Vedanta gets $300 mn in loans to refinance debt
Vedanta Resources—the parent firm of Mumbai-based mining conglomerate Vedanta Ltd—on Friday said it has secured $300 million in loans from a clutch of leading global banks such as Barclays and First Abu Dhabi Bank for refinancing its 2024 and 2026 bonds.
Reits, Invits, Muni bonds could surpass equity, debt
In the last nine months, ₹3.3 tn has been raised in equity, and it is expected to reach a total of ₹4.3 tn by year-end
Trump Gets No Jail Time or Probation in Hush Money Case
Trump Emerges From the Case Without Any Probation, Fine, or Continued Responsibility to the Court
Infy says exec stalled suite before Cognizant switch
Infosys accused Cognizant of six counts of not just hurting potential revenue but also anti-competitive practices
Industrial Output Surges to a 6-Month High of 5.2% in Nov
Despite the Nov rebound, industrial output growth for the Apr-Nov period stood at 4.1%