Article
Community
Culture
Film & TV
Fun & play
5 min read

Here’s why strangers unite on The Chase

Chasing the prize isn't everything on the TV quiz show.

Stuart is communications director for the Diocese of Liverpool.

Four quiz show contestants stand behind a table with the show host.

“I’ve had a great day Brad”. How quickly we fall into the staple clichés of daytime TV quiz shows. I tried to avoid hitting that trap, but my lips uttered that gem, as well as pushback phrases exhorting other contestants not to take a low offer, as I made my way through the lexicon of phrases to be uttered by a quiz show contestant. 

Yes, I was on The Chase. A longstanding mainstay of ITV’s teatime schedule this popular quiz combines individual rounds, a multiple-choice battle against the Chaser of the day, in my case the one known as The Beast (in reality a nice guy). It all culminates in a team effort to score as many points as possible to set a target the Chaser cannot possibly beat. (another show cliché). All this presided over by the ever-genial Bradley Walsh makes it a bankable show in the schedules. 

So why did I end up (nearly a year ago now) in Elstree studios with three people I had never met trying to win some cash? Well to be honest for me winning the cash was not the most important thing. My main aim was to not look a fool. My greatest fear was to get a low score in the first round inviting inevitable scorn and a trolling over my visibly clear lack of intellect or general knowledge. (To be clear as well, ITV prepare us for any potential abuse we might get, giving advice on protecting our social media and access to a helpline. I did feel protected).  

Actually, another fear was getting a bible or religion question wrong. I avoided that. 

If I met my first objective to not look stupid, my next aim was to get into the final round (otherwise my aunt would have done better than me and that would be disastrous for my poor little ego). But overall, it was the experience, it was the day out, it was chance to step outside of the daily routine that drew me to the long audition process and brought me on air. 

I would love to say that as a Christian minister I did it for God. I didn’t. I considered whether to wear my clerical shirt rejecting that for, as a self-supporting minister, I have developed my own rule for wearing it; to signal I am in active ministry. I was open about my faith and had a nice chat with Brad about churches and churchgoing. But this was never going to be about converting folk through knowing facts about history or music. 

And watchable television in the context of a daytime quiz is about telling a story. It’s almost a pantomime story we willingly enter involving heroes and villains.

But I learnt a great deal about life through this. First, the day was surreal. It started with the awkward meeting of us four contestants in a hotel lobby uncertain who was also a contestant until we were brought together by a show member. We were then welcomed into the Chase world, an experience well known to the team supporting us - they work on up to three shows a day, five days a week. With our electronic devices temporarily confiscated we were in a timeless environment effectively ceding control to the team who guided us carefully to the filming. This included preparing our minds and talking points so that we all have interesting stories to chat through with Brad. 

And we start to bond as a small group. Diverse though we were we found shared interests, common bonds, and we grew from a collection of individuals to be a team with a common purpose slowly moving through stages of wardrobe and makeup towards the big moment of entering the studio. That bond extended to the crew looking after us who for that time were friends, supporters and guides leading us through what was to us was the exotic mystery of filming, but I am sure to them was just another day. Through them we learnt the etiquette, the time to talk, the direction to look, how to move and when we can relax and sip water from personalised Chase water bottles 

We realised how each of us has different reasons for being there, different desires, different backgrounds and different approaches. But we are coming together with one purpose. To best the Chaser winning the panto styled quiz. 

That bonding is important if we are to work together, to give each other advice and support. And I believe the nature of the show has changed over time. My memory was that when it was first aired contestants would be more in it for themselves and almost scorn those taking lower offers and diminishing from the overall prize pot. Now it is about team, it is about the knowledge that only together do we stand a chance of winning, only through mutual support will the cash by ours. 

The filming is live but broken up so camera positions can be moved to get the shots needed. We were even interrupted by an incident that ended up in their blooper reel. Everyone, especially Bradley, is professional, kind, and friendly but it is clear they have a job to do and do well. So do it they must for their first duty is to produce watchable television. 

And watchable television in the context of a daytime quiz is about telling a story. It’s almost a pantomime story we willingly enter involving heroes and villains. We four were the little people fighting a good and wholesome battle against an almighty foe. That foe was the Chaser, The Beast, scornful, patronising, goading and tempting us to mistake. But on our side is the ringmaster, Mr Bradley Walsh, our guide and mentor shepherding us through the emotional ups and downs of our journey to the final. The viewer is hopefully identifying with us having heard our stories rooting for us to win the day. 

So, it’s not about quizzing, it’s a story of uniting, belonging, competing while being welcomed into a world that has its own rules and rituals that needs someone to guide the new person through. 

We had a great day, we finished our time and were back out onto the street parting company and leaving, as we began, as strangers. 

Join with us - Behind the Seen

Seen & Unseen is free for everyone and is made possible through the generosity of our amazing community of supporters.

If you’re enjoying Seen & Unseen, would you consider making a gift towards our work?

Alongside other benefits (book discounts etc.), you’ll receive an extra fortnightly email from me sharing what I’m reading and my reflections on the ideas that are shaping our times.

Graham Tomlin

Editor-in-Chief

Article
Culture
Economics
Ethics
1 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.