Article

Culture

Music

Taylor Swift

14 September 2023

6 min read

Taylor’s truth: how superstar authenticity appeals

As Taylor Swift fans took over his town, Nathan Betts contemplates the truth at the heart of the superstar’s appeal.

Nathan Betts

Nathan is a speaker and writer on topics related to faith, life and God. He lives near Seattle, Washington. His writing is featured frequently in The Seattle Times. nathanbetts.com

Taylor Swift wears a long yellow dress and signs with an outstretched arm against a backdrop of woods and a close up her singing beside it.

Taylor Swift performing on the Eras Tour.

Paolo V, CC BY 2.0, via Wikimedia Commons.

If you have been paying any attention to Taylor Swift’s most recent tour, you will know why the last several months have been termed The Summer of Taylor Swift. The artist has traveled across America, boosting economies en route, and filling stadiums with contagious happiness.

I hadn’t realized the enormous impact Swift had made on entire cities until I was walking downtown Seattle earlier this summer for a Mariners baseball game. While walking from my car to the stadium I encountered an endless sea of Taylor Swift fans waiting outside the stadium in the early afternoon for her show that would begin that evening. I had heard about Taylor Swift before, had listened to her music, but seeing what I saw that day told me something more profound about her and something about us as human beings.

But what I saw on the downtown streets of Seattle leading up to Taylor Swift’s concert was different.

In recent history, we have seen different artists such as The Rolling Stones and AC/DC elicit strange (and frankly awkward) adulation where people throw their clothes onto the stage. U2 concerts have been hailed as a religious experience in which stadiums become cathedrals. And more recently, Justin Bieber gave many “Bieber Fever.”

But what I saw on the downtown streets of Seattle leading up to Taylor Swift’s concert was different. I’ve been trying to pinpoint what it was exactly that struck me that day. People of all ages packed into surrounding streets in Taylor Swift attire, countless groups lustily singing her songs, cars and vans marked up with Taylor Swift song lyrics. There was a unity, a togetherness and distinct humanity to it all. The feeling was more akin to a spiritual revival than merely a big stadium concert rolling into town.

I remember coming back home that evening and texting friends to see what they made of it. My question was: “What is it about Taylor Swift that has enabled her to connect with so many?” The answers I received all struck the same notes: A Taylor Swift concert was the best they had ever experienced. But more than the concert, it’s the vibe, the pure joy and happiness that you experience with everyone at the concert. There is something about her that makes people feel happy. And although she is a stratospheric star, she has deliberately made a point of seeming like the girl next store. People think and feel that she is their friend. She is relatable.

If you are a Taylor Swift fan, you already know this. But as these thoughts about Taylor Swift rumbled through my brain for weeks after that experience, they took on a greater meaning during a lunch meeting I had with a friend back from college for the summer. Midway through our time together he asked me, “How do you deal with people who are fake?” The pensive look on my face revealed that I wasn’t exactly sure what he was asking, so he sharpened the question: “How do you deal with people who are hypocrites?”

I now understood what he was getting at. He gave a few examples of friends and leaders around him who had acted in hypocritical ways. He saw through it. Although he had moved on from those relationships, the jagged edges of hypocrisy still dug into him. They hurt. My friend was asking me how or if it’s even possible to trust in people who let you down.

The truth is, I’ve lost count of the conversations I’ve had with people who have asked or expressed the same question. And yet, when my friend asked me this question, I wasn’t sure what to say.

I offered just one thought: “What if the antidote to hypocrisy is the real thing? As in, what if the medicine for the disingenuous and fake is seeing a life that is genuine and real—a person who is true, honest, who lives a life of integrity?

And in Taylor Swift, we’ve found a companion who knows the struggle of life and invites us to join her.

This is where my mind came back to Taylor Swift and why it is that millions of us feel a real connection to her. The answer is nuanced, to be sure, but I wonder if part of it has to do with the fact that when we see or hear Taylor Swift, we experience a person who comes across as real. Perhaps more than in recent memory, we as a society have a low tolerance for BS. Yet, despite our abhorrence for the fake, our attraction to the real and authentic has grown just as strongly.

Enter Taylor Swift. Among other qualities, Swift is not a fake. Isobel Jones, a cradle Swiftie, recently explained this to me:

‘Taylor Swift isn’t fake because we’ve known her since she was 14, she gave all of herself to us, in her songs, in her interactions with fans, sending her coat to a fan who loved it (During the RED era; Swift would have been 22ish). She’s one of the first Tumblr gen artists who has consistently connected with fans and grown up with them, proving her consistency.’

We can relate to the words in Swift’s songs. Her lyrics of sadness, anger, hope, and grace connect with us. She touches the human spirit, not necessarily because we’ve been through the exact same kind of struggles, but because we are all human beings trying to figure out how to cope with hard things in life, own up to our shadows and weaknesses and still engage our journey in life. And in Taylor Swift, we’ve found a companion who knows the struggle of life and invites us to join her.

In our age of loneliness and disintegrating relational bonds, I believe the message of Taylor Swift transcends her concerts and songs. She carries a message for us, a reminder of what we need as human beings. Truth, integrity, authenticity. We don’t necessarily expect people to be perfect, but we need an honesty in our relationships about who people really are, whether that is the good or the bad. Just please, whatever you do, don’t be a hypocrite.

Wounds from hypocrisy can be hard to recover from. As a person of faith, I have experienced first-hand and have heard myriad stories of hypocrisy in the church. There is indeed much to be disheartened by in our world, and far-too-often within church walls. But in my more sober-minded moments when I am looking for lasting and healing solutions, I encounter a balm for my pain when I focus on the core and centre of the Christian faith.

At its heart, Christianity goes beyond offering merely propositional prescriptions for the pain that paralyses us. Instead, hope is offered supremely in and through the person of Jesus Christ, God-in-flesh. Within Christ is a truth that rolls throughout the whole of sacred Scripture. It is the beautiful message that there is a God who can be trusted. We can trust him because he is real, he lived in our world of pain and hypocrisy, and he conquered its power. We might carry scars for the rest of our lives, but Christ’s life tells us that there will come a point, before we die or after, when he will heal the deepest of our wounds. He can be trusted, not because he makes everything in life work out the way we want it to, or because we will never experience pain, but because in Christ, we’ve found the one who knows the way through it.

There’s also a challenge here for those who follow Christ and it is simply to reflect his character of truth, love, and beauty in how we live thereby opening up a world into which people actually want to inhabit.

Recovering from being hurt by hypocrisy can be a long and hard road to travel. A recent conversation with a friend reminded me of how difficult that is while my experience of Seattle bubbling with Taylor Swift happiness provided a signpost of hope. And behind all of this I am made to wonder, more than I can ever recall, whether faith in Jesus Christ can help steer us in the right direction, if we are willing to engage who he was and the life into which he invites us.

Article

Culture

Economics

Ethics

1 May 2025

6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?

Laurence Fletcher

Laurence is a journalist at the Financial Times.

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.