Interview
Community
Culture
Loneliness
S&U interviews
5 min read

Why we need friendship more than romance

Friendship Lab's founder opens up on opening up.

Jack is a graduate of Peterhouse, University of Cambridge and Blackfriars, University of Oxford. He writes, and also works in local government.

A speaker, standing in front of a screen, beckons with one hand, holding a mic with the other.
Voysey at the Lab launch.

Henri Nouwen, the Dutch Catholic priest, professor, writer, and theologian, wrote in Reaching Out of an encounter with one of his students who entered his room with the disarming remark:  

“I simply want to celebrate some time with you.” 

Recently, I had the great pleasure of celebrating some time with Sheridan Voysey, the founder of Friendship Lab, which is the first non-profit organisation dedicated to enabling adults to reach out and making friendship thrive.  

Sheridan, an Australian by birth, describes himself as a ‘writer, speaker, and broadcaster with ‘a keen interest in what makes life deeply worthwhile’. Beyond that, he goes on, “I am a husband to Merryn” and “big dog” to a cockapoo called Rupert, and he makes Oxford his home.  

He and I met in the Liddon Room of Pusey House, one of the chaplaincies to the University of Oxford, which is where I have made many of my adult friendships over the years. We had tea.  

We began our conversation by talking about solitude and silence. Sheridan told me that the Friendship Lab, which launched in London last month, had its genesis in a solo spiritual retreat he went on in 2019. He left thinking about friendlessness and wanting to write a book about adult friendship. The pandemic played into this, creating an opportunity for Sheridan to broadcast about this issue when he was made Creative Lead of BBC Radio 2’s four-day Friendship Season in 2020. People pondered, when they were apart from one another, why it is that friendship is so difficult in the modern world. Sheridan led the way.  

“You’re thinking too small” were the words he heard on his second retreat at St Katherine’s House, Parmoor in 2021. He told me he was scared. Rather than writing a book, Sheridan resolved to rectify our world’s obsession with romance at the expenses of what he calls “its less glamorous sibling”. Friendship Lab, which provides courses and resources to build friendships that make life deeply worthwhile, was the result.  

Sheridan told me that he did not have many friends growing up in Brisbane, Australia. In the 1970s, he remembers, Brisbane was “a bit coarse, a bit rough”, and “to be an Australian male in Brisbane then was to be into beer, barbecues, football”, he said with a laugh. As a child, Sheridan stuck out. He was tall. “I was the kid who would be walking around the playground at lunchtime, constantly moving around to cover up the fact that I had no friends to sit with.” I asked him how this might have contributed to his thinking about friends as a fifty-year-old man.  

The answer was rooted in his childhood experiences—and his faith. His parents were Jehovah Witnesses when Sheridan was growing up, which he told me meant that his family were “absolute outsiders”. Then, his mum had “a wonderful encounter with God” in the late 1990s, where she came to believe that Jesus is the Son of God. It was, he said, “profoundly transformative” for the whole family. He had been “trying to find [his] life” “among the flashing lights and throbbing beats of Brisbane’s nightclubs” but felt “completely empty inside” until he made a commitment to Christ himself, aged 19. He told me that fostering friendship in others, matters to him because of his faith. “I have always had a heart for those on the periphery, and I want to bring them in.” 

Reaching out is connected to comfy silence in the company of others. 

Another factor which has shaped Sheridan’s sure-fire purpose to recover the lost art of friendship has been his marriage to Merryn. His book Resurrection Year recounts the decision he and his wife made in 2011 to move from Australia to Oxford, to recover from the death of a dream to have a child together. Merryn started out as a medical researcher within the University, soon earning a PhD through the college in the building where we met for our time together. Sheridan tells me, he had a “real identity crisis”. His own came through leaving a successful career broadcasting and speaking in Australia, which on top of the childlessness, gave rise to questions about his legacy. He also told me, it was “a great stimulus to think very deeply” about his friends. “How intentional am I being?” 

I can tell you, having spent one hour and a half with Sheridan, that he oozes intentionality in how he engages with others. This is why I was reminded of Henri Nouwen. The ‘twentieth-century Kierkegaard’, Nouwen was able to announce the arrival of another way to relate to others in the world. Reaching out is connected to comfy silence in the company of others, which Sheridan knows well. After some time in silence with Nouwen, his student said, ‘“From now on, wherever you go, or wherever I go, all the ground between us will be holy ground.”’ I might have said likewise to Sheridan as our time together drew to a close.    

Sheridan said,  

“I hope that Friendship Lab in its tiny little embryonic state will one day grow to the point where we can actually have some kind of cultural influence, and we can turn the tide.”  

I hope so too.  

Friendship Lab aspires to a world in which every adult has at least three ‘2am friends’, people who will help ‘at 2am when everything has gone wrong’. Sheridan Voysey is no longer thinking small.  

Like the Lord Jesus Christ, whom he believes to be the Son of God, Sheridan is looking unrelentingly at what makes life deeply worthwhile: love, and not just the romantic kind. Reaching out, this man is making friends.  

 

Find out more about Friendship Lab

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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.