Regardless if you are one of Kim Kardashian's 250 million followers or not this week she may have found a way into your feed. On Oct. 3rd the SEC announced a $1.26 million penalty for an Instagram post where she was paid to share information on a crypto currency. The full team sits down and shares their thoughts on influencers like Kardashian or Floyd "Money" Mayweather promoting Cryptocurrencies. Is it morally any different than promoting other products? We also share what influencers are more likely to get us to spend our money while we are on social media.
So queue up some hashtags, post on your social media that you're listening to Talk Wealth To Me and enjoy.
Regardless if you are one of Kim Kardashian's 250 million followers or not this week she may have found a way into your feed. On Oct. 3rd the SEC announced a $1.26 million penalty for an Instagram post where she was paid to share information on a crypto currency. The full team sits down and shares their thoughts on influencers like Kardashian or Floyd "Money" Mayweather promoting Cryptocurrencies. Is it morally any different than promoting other products? We also share what influencers are more likely to get us to spend our money while we are on social media.
So queue up some hashtags, post on your social media that you're listening to Talk Wealth To Me and enjoy.
Welcome to Talk Wealth To Me, a Safe Space podcast where we chat about anything and everything related to personal finance. The Information contain in this podcast is for educational and entertainment purposes only. It does not constitute as accounting, legal, tax, or other professional advice.
Chase Peckham:Hello everybody, and welcome back. I'm Chase Peckham, the director of Community Outreach and Education at the San Diego Financial Literacy Center, a the education arm of Debtwave credit counseling, and joined by as always, Felipe Arevalo. And welcome back, Katie Utterback. And Katie, Uh, I know that, uh, this is something you just love, you love these social media, uh, queens that push stuff, right?
Katie Utterback:Oh, Chase<laugh>.
Chase Peckham:I know, I'm just kidding.
Katie Utterback:<laugh>, I do spend a lot of time on social media, but I actually do not follow Kim Kardashian.
Chase Peckham:I don't either.<laugh> I can, I can safely say that I don't follow her. And, but there again, uh, my wife, um, used to be on social media all the time. Uh, and I, so I, she just, I always let her do that. So I, I have, I am trying to kind of get back in looking at it and following it, but I'm not very good at it.
Katie Utterback:Felipe?
Felipe Arevalo:I do, I, I, I follow social media. I do social media. I do not follow celebrities. I, I do follow some celebrities, sport athletes, popular chefs, that kind of thing. But I'm not into reality tv. So I'm not about reality TV stars. I'm not a Kardashian fan. Never watched the show never will, and I don't understand why it exists. But in this case, she made news. And I'm not a fan of Floyd Mayweather who will also talk about, but in this case, you know, I, I almost feel like I'm siding with them. And I, that's something I never thought I'd say. Oh man, I kind of feel bad for Mayweather and Kardashian. Uh, but you know, it's interesting.
Chase Peckham:Well, it is because I think what they call them and what I think we all know them as, as influencers, right? I mean, that's, that's I think as my kids are watching YouTube and, uh, Instagram and TikTok and whatever other social media platform they're on, it is constantly whoever they're following that isn't a friend. I mean, like a real life friend. Uh, they're quote unquote influencers. Um, or influencing what we do, uh, in our daily lives. What's cool, uh, what things my kids say, what kind of terms they come up with, what kind of things my kids want to purchase, which is
Felipe Arevalo:And like little dances.
Chase Peckham:Oh my God, I catch my daughter doing weird stuff all the time. I go, What is that? I don't know, but, you know, and, and things they might wanna buy. And I'll find, I, I gotta tell you guys, I find myself getting stuck in that, uh, when I happen to be scrolling, you know, down Instagram and all of a sudden there's a paid advertisement and it's something like, you know, get ripped in 15 days. I, you know, my eyes open up and I, even though I know better that, you know, it's really hard to get ripped in 15 days that it's probably a scam of some kind, or not a scam, but just something that doesn't altogether work. I'm still gonna click on it and check it out.
Felipe Arevalo:I have been guilty of buying things because I've seen ads on social media. Uh, I, I don't remember if I shared it before. I ended up, after we did the SWYM live on social media, and, you know, the dangers of it to it, your finances, Uh, I put it together, put the finishing touches on it on Tuesday, Tuesday night, I was scrolling through Facebook, I saw an ad, and I bought tickets to Monster Jam for my kids. And then I screenshotted it, sent it to my brother and my best friend, and said, Hey guys, spend your money here and let's go bring the kids to, So I was even a bad influence, and I didn't even see the irony in it until after Sarah pointed it out when I presented on Wednesday and said, Did you not see the irony in in what she did? What did you just do last night? And just before we got onto here, um, I screenshotted the San Diego Wave tickets on sale for the playoffs, and then I sent it to my friends.
Chase Peckham:And that's pretty typical advertising though, when you're talking about something like that, that's going to go on like either a, you know, concert or something that's happening. I mean, that's, I I wouldn't say a whole lot different than your typical advertising for a, uh, you know, an event that is coming up, but that's gonna happen. So, I mean, to me, that's not as big a deal as something, let's say, that nobody's ever heard of. And it's like the newest thing, and you go to click on it and it's this 15 to 25, 30 minute video, and they're explain, you know, instead of just explaining what's in their product, they want to give you like, the whole history behind whatever it is that ails them and for whatever reason, and don't hang up or don't get off. And today, if you don't get it today, you'll have to pay the retail price on our website. All it's, that is completely not true. You know, every single day they have the same kind of deal, but they gotta give you some reason to feel like you're not, you have to buy it right now. Uh, where it, it, it's, that's just, that's how we get sucked into that. Even somebody like myself who has been, you know, doing this for such a long time, I'll find myself watching 10 minutes of this and go, What am I doing?
Felipe Arevalo:Right?
Chase Peckham:All because I wanna lose a love handler too. You know?<laugh> doesn't make sense.
Felipe Arevalo:Yeah. And are there some celebrities? I I think for each individual person, there's probably more that more have more influence over you. You know, the, the, there are certain celebrities that, you know, maybe a, a workout person that you've done their workout videos, Chase.
Chase Peckham:Yeah.
Felipe Arevalo:Or someone who does Pelotons, and if you see their at, or they're promoting something that's probably more of, you know, something you might take more time to look.
Chase Peckham:Right.
Felipe Arevalo:At and, and things like that, you know, So I think with someone like Kim Kardashian,
Chase Peckham:Which is a big news, right?
Felipe Arevalo:Big audience,
Chase Peckham:Right? And, and it's big news now, right? Kardashian, the SEC has fined her, uh, for promoting cryptocurrency on her site, or not her site, on her, uh, her.
Felipe Arevalo:Instagram.
Chase Peckham:platforms and with, but doing it in a way that is not letting everybody know that she's being, uh, paid to do it. Um, that it's just like, supposedly this looks like I'm into this organically. Uh, and that's where I think we get in trouble with these influencers, right? Um, they'll, they'll, they'll be talking to your kids and they're drinking, um, some kind of energy drink, right? And just going, Oh my gosh, this stuff is so good. I love it. Uh, and you know, but are they being compensated for it? And if they are to push that, they have to let people know that they're being paid for that. And yet so many of these stars like Kim Kardashian, Floyd Mayweather, uh, DJ Kahlid, they're starting to get in trouble for these kinds of things.
Katie Utterback:They are. And it's, there's a slight difference cuz when you guys were talking before, there's a difference when you, between knowing that you're watching a promoted post,
Chase Peckham:Right
Katie Utterback:Or something. Normally there's the word promoted, or you see somebody use the hashtag ad for cryptocurrencies, it's a whole other ballgame. So you can't just, So.
Felipe Arevalo:that was used to me.
Katie Utterback:Yeah, you can't just use the hashtag ad, which Kim did use, but like you pointed out, sometimes when you're getting these promoted posts, they're trying to address an issue that you have. Like they know what gets at you. And Kim, when she posted about crypto, she made it seem like she was sharing a secret. So literally she said, Are you guys into crypto? This is not financial advice, but sharing what my friends just told me. So it makes it sound like you have a secret.
Chase Peckham:Yeah,
Felipe Arevalo:but that's where I understand that like for crypto, it's a different ball game. If she had made this post about a skincare product, it's
Chase Peckham:Because it's like a stock market thing.
Felipe Arevalo:It's like a securities thing,
Chase Peckham:It's insider trading.
Katie Utterback:Exactly.
Felipe Arevalo:The, the, the fact that it says in the actual post, this is not financial advice, should have been a red flag for the millions of people who went out and bought the thing to realize this is not a smart financial decision. Like I understand the SEC and the legalities behind it, but as a consumer, I think that there's some responsibility on the consumer to go, I just read this where it literally said, don't take this as financial advice. I'm going to turn around and take it as financial advice. So I, I think there's some, there should be some level of accountability for the consumers who went out and made the purchases. She's not a financial professional, she's not a cfp, she's not an investment person. And she's clearly telling them in the post, this is not financial advice. Yet millions of people turned around and said, Oh, this is great financial advice, let me go buy some of this product.
Chase Peckham:Yeah.
Felipe Arevalo:So there, there's kind of that where I feel like yes, legally I guess you should have disclaimed it and, and, and you know, that's where the, the slap on the, on the wrist when the SEC happened. But there's some responsibility from the people who bought it to say, Oh, she's telling me not to trust her financial advice yet I'm gonna go trust her financial.
Chase Peckham:Well, and the reason the SEC getting involved, like, like Katie said is, you know, if she would've come out and said, Hey guys, I just got a, uh, a friend told me that um, Pepsi is coming out with a a, a new product or Pepsi, you know, that might be the good place to get into. She can't do that. Right? You can't without selling and letting'em know that you're being endorsed to do that. So that can be very, very dangerous when you're giving advice like that.
Felipe Arevalo:You can endorse the product. She can endorse a not about Pepsi stock.
Chase Peckham:Not new Pepsi product, Hey, now's a good time to go buying Pepsi stock. Right?
Felipe Arevalo:Right.
Katie Utterback:I also think if all she had to do was say, By the way, I was paid$250,000 to post this. If you saw that language, just one simple line on that Instagram post, I think that would dramatically change what a lot of people perceive that post to be about, or.
Chase Peckham:For sure.
Katie Utterback:How they could benefit from it. And I do agree that there is responsibility on consumers at the same time. Like we've pointed out, she's not a financial person, so why is she posting about finances? Like if, if you're going to say, I'm not a financial person, whatever this rule was in place four years before you made this post, if you're gonna say, I'm just a reality star, then stay in that lane. Don't promote crypto.
Chase Peckham:Right.
Katie Utterback:Per, I mean, that's what I personally Believe.
Chase Peckham:Stick to your, your glamor products.
Katie Utterback:Yeah. I mean she has so many businesses and she's a billionaire. Why is she willing to post something for$250,000? That's also interesting to me
Felipe Arevalo:That that was interesting.
Chase Peckham:Yeah.
Felipe Arevalo:It's like you're not hurting for money. Why even deal with this hassle for a quarter of a million dollars if you're worth so much money? Yes. That's quick, easy money for one Instagram post. I'll post a lot of things on Instagram for that kind of money. But, uh, well, not, not investing advice apparently, but, you know,<laugh>,
Chase Peckham:No,
Felipe Arevalo:But you know, she's not in need for, she's not hurting for money at, at this time or at least it doesn't seem like she is with all her other businesses and income streams and whatnot. So it's almost like, I wonder if she even knew, I wonder how many business people she has working with her who said, Hey, you know, we got you this great deal. Maybe a promoter or a assistant or something. And maybe she was just like, Yeah, do it. Oh, it's money, do it. And I wonder how much in her case, she's gotta have a team of people working for her.
Chase Peckham:Oh yes absolutely
Katie Utterback:I mean, I've thought about that though, but I've watched the Kardashians enough to know like, she's so involved. Like they don't necessarily do things that they don't know about. And I remember when she was married to the basketball player from Minnesota, because I lived there at the time, that's when she started getting called out for actually calling the paparazzi on herself. So like<laugh>, she, I mean she just, to me, I don't follow her on social media because she to me is somebody that is willing to promote anything for a dollar. And that's fine if that's what you wanna do. Cuz I understand that she, there's more people willing to do that than just Kim. But that's not how I want to earn my money. Like, I don't wanna just promote anything to earn a dollar.
Chase Peckham:Yeah. Well it's dangerous. I mean, you're, you're opening yourself up to a lot. But not only that, I mean, you could be hurting a lot of people and I think you're right. I think she's, she's not that, look, you can say whatever you want as far as how six, you know, whether she's deserves to be as famous as she is, uh, for being famous for nothing really. Um, except for being a socialite and having, you know, a name. Um, but yet she does, um, she, she went with it and flew with it and, and she is a very smart business person and you're right, I think she absolutely doesn't do anything. She doesn't research or understand.
Katie Utterback:Also she's, she's studying to be a lawyer. I just remember that<laugh>, like.
Felipe Arevalo:That's what I'm thinking. She's not, she's, she's bright. If she's gonna pass the California bar, she's probably, you know, she's pretty bright. And, and I think that's her goal. I just feel like, well I've never watched this show, so I didn't, I had no clue how involved or.
Chase Peckham:Me either.
Felipe Arevalo:Uninvolved they may be. My first reaction was like, I wonder what person on her team posted that, but maybe she doesn't have a team and she's just, just
Chase Peckham:Oh, she's got a team. Almost a team.
Katie Utterback:She definitely has a team.
Chase Peckham:She has a team.
Felipe Arevalo:Okay.
Katie Utterback:<laugh> and she definitely has a team that does social media, but she also does social media herself too at times. So it's like, cuz there's no way with the stuff going on with Kanye when she's posting like, Please stop. There's no way she gave that to an assistant to type. Like I,
Chase Peckham:No.
Katie Utterback:Don't really think that that was her<laugh>.
Chase Peckham:Yeah.
Katie Utterback:But like I just, and again, I think that you can be involved in multiple businesses. I think that's incredibly smart on her end to take her reality, star fame at the very, very beginning of reality tv.
Chase Peckham:Yeah.
Katie Utterback:And to blow that up into like beauty lines, fashion lines, all of this stuff, like the passive income that she receives must be insane.
Chase Peckham:Yes. I, and I don't blame her at all for that. She's taking advantage of and works very hard for the situation that she was in and the opportunities that were presented to her. So, you know, I I don't hold anything against her. I just, my biggest thing is, is when you are pan you're, you're pandering a product or something like that. Um, and you know, you have that much influence over people. Something like crypto, getting people involved in that who can't necessarily afford it, don't understand it is extraordinarily dangerous in my opinion.
Felipe Arevalo:But what's the difference between, other than the legal difference with the SEC and, but what's the difference of her promoting other products that people can't afford or may not be able to afford. And, you know, promoting skincare products where you might be able to get a cheaper one at Target or, uh, a clothing line where that you could probably get a cheaper t-shirt elsewhere. You know, if you look at it from that point of view, what's the difference between getting someone to overspend on foundation or a t-shirt as opposed to getting people to overspend on a crypto coin? It's still messing up people's finances?
Chase Peckham:Yeah, I don't know. There is much, You're right.
Katie Utterback:I mean, I was actually just listening to a podcast talking about how Kim Kardash, she just did like a photo shoot or something at a seven 11 and people were talking about how she has denied that she's been advertising products like so many times and also has denied like sur like various surgeries and cosmetic procedures
Chase Peckham:Oh, for gosh sakes.
Katie Utterback:That like, it has, she's basically made it so blurry as to like what is poor, what is wealthy, that people are saying that this seven 11 shoot in particular has glamorized poverty in a way that they've never seen before. And so I think you're Felipe there is kind of an issue when you have someone saying like, Oh, all you have to do is buy this foundation that's$80 and you'll look like me and you'll have this fabulous life. Like that is a very dangerous thing, especially with the buy now pay later stuff that.
Felipe Arevalo:Yeah,
Katie Utterback:They offer.
Chase Peckham:Yeah. Well, I mean I guess you could say that about anything that's advertising. I mean, anybody that puts their name or their face to something, um, I mean, I.
Felipe Arevalo:See that's where I had the, the, the issue with I get the SCC going after because it's a, it's a crypto, it's a different type of product, but it, it, you look at it and you're like, where, what about all the people we see on ads, just commercials, uh, Super Bowl ads. At what point do you know, I guess I understand why legally they're not, uh, gonna get in trouble. Like Matt Damon did the big crypto.com ad at the Super Bowl and things like that. He wasn't telling you to go buy this specific investment. So I see why he doesn't get in trouble for that. But at what point morally is there the differentiation between go buy this crypto or go buy any one of these cryptos?
Chase Peckham:Well I think that's where,
Felipe Arevalo:Or go buy this car insurance or that car insurance as spokespeople. Like where's that difference?
Chase Peckham:I, I don't, I don't know if there is, but I think that that's where we have to, I mean, what they're doing is they're giving a face to a product. They are making us aware that these products are there. Um, and when we see somebody that we know, whether it be through movies or music or uh, reality tv, whatever it might be, um, we are gonna probably take a little bit more interest in it. But honestly, that's where I truly believe that that falls on us, the consumer, that if we are going out and buying something or purchasing something just because somebody we see on TV or in a movie or on stage or plays on a sport or whatever it might be, then that's on us. If you're believing you've gotta find the product that is right for you. Um, and that's kind of where it gets blurry a lot of times with these influencers that our kids see. Um, because as, as, as a parent, I look at that and go, Oh my God, this kid who's got his hat sideways and is eating, drinking this Prime uh, energy drink, it's terrible by the way. Um, and my son wanted to get it so bad and then he tasted it and he was like, Oh, this is gross. But he wanted it for months and months and months because this guy that he thought was super cool was pushing this yet that's on us and me as a father to say, Okay, we'll go try that. I'm tired of you bothering me. And then we'll never, we never bought it again. Right. It wasn't a product that we needed to use. So I do believe that that is ultimately, it still has to lie on us, the consumer.
Felipe Arevalo:I agree. I think it's, people still made the decision to go out and buy this crypto coin, I would imagine because it's a, a very new, lesser known cryptocurrency. You have to jump through hoops to buy some of these. You have to go in there and convert your American dollars into usually like Ethereum coin or uh, Ethereum, uh, and then turn that into through marketplaces. And it's not easy. You're gonna have to watch YouTube videos on how to do this stuff. It's not just go online.
Chase Peckham:and then trust that that YouTube videos are Right,
Felipe Arevalo:Right. And, and I have friends who have bought some of these lesser known coins and it's like after I, I had one friend tell me, like after I sent the money, I realized I don't really even know if I'm gonna get anything in return. Like I'm just going off a YouTube video. That was probably a bad idea.
Chase Peckham:Yeah, hopefully It wasn't a lot
Felipe Arevalo:<laugh>. It wasn't, it it, but you know, and then he is like, oh, then after I actually got something back after the delay, I was like, Oh, cool, it worked. But it, it wasn't an easy process I would imagine to buy this, whatever it's called Ethereum Max, because you can't get it on your big, like a lot of the, you know, uh, cryptocurrency exchange websites and stuff may not have even had it at that point. So these more obscure ones, you have to actually do work to figure out how to buy them. And that makes it like even harder. It wasn't like a click, let's buy it through my Instagram right now, type of thing. Someone had to go figure out how to do it and, and that just should have been enough time to say maybe this is a bad idea. I don't even know what part of the internet I'm in right now. Maybe this is a bad idea and I shouldn't be sending off my money to some random place.
Chase Peckham:Yeah,
Katie Utterback:That's a good point,<laugh>. Yeah, I mean, I never ended up getting into cryptocurrencies cuz I didn't wanna watch the YouTube videos and.
Chase Peckham:Me neither.
Katie Utterback:get into the hassle.
Chase Peckham:Mine was pure laziness?
Katie Utterback:<laugh>, But I have to say, when I saw Reese Witherspoon posting about it, I was like, Oh, I should probably pay attention. And
Chase Peckham:By the way, one of the people I do follow
Katie Utterback:Reese Witherspoon?
Chase Peckham:Yeah. Well my wife followed her and my wife liked her a lot. So, and you know, she's the girl next door. How can you not like Reese Witherspoon?
Katie Utterback:But see, I fall into that trap then. So she's now, um, bought, I forgot how much interest. But in the home edit company, the organization, company, they have that show on Netflix and then they have all these products. So I'm like so deep into that world, I have to restrain myself from buying different organizers to organize things like<laugh>. That's the trap, right?
Felipe Arevalo:Yeah.
Chase Peckham:Yeah.
Felipe Arevalo:I mean to me it's sometimes the, the one that gets me is the celebrity chefs and then they get a new cookbook and you're like, Oh, that's so cool. I want the Guy Fieri barbecue cookbook.
Chase Peckham:Yeah.
Felipe Arevalo:Or the, you know, whichever Gordon Ramsey this or, or whatever the case may be.
Katie Utterback:Yeah. Just use his knife, you're set. Right.
Felipe Arevalo:Exactly. I have his cutting board, I have his little cook cake making thing. Um,<laugh>. But you know, it it, it, there's that each thing that, or each, I think we're all influenced differently by different people. So if you find you're the person here are more likely to be influenced by, you know, it, it may trigger and, and you know, maybe if one of my, the people who influenced me more was the one advertising, maybe it would've triggered a different response. I never saw it, The Post, I never heard about it until started getting into legal trouble because, you know, again, I don't follow her. But you know, it, it's, it's uh, it's, it's interesting to see, you know, just the sheer volume of Instagram followers that she has. I mean she has like a million more Instagram times more. She has a million times more Instagram followers than I do. That's a big number.<laugh>.
Chase Peckham:That's shocking by the way.
Felipe Arevalo:<laugh>, you know, that's all she has. 250 million. I'd be surprised if I had 250 Instagram followers. I'm probably overestimating there. It, you know, it, it's
Chase Peckham:My goodness. I know I don't
Felipe Arevalo:<laugh> just sheer numbers. You put, she posts something, the views she must get with that many followers. I think that in itself should be a little bit of a, I should be more careful with what I post.
Chase Peckham:I think that's easy to say for us who aren't quote unquote influencer.
Felipe Arevalo:My 50 Instagram followers.
Chase Peckham:Their, their whole world is revolved around how many people follow them. And so that's true. Can push. They get paid based on how many followers they have, how many impressions they get.
Felipe Arevalo:Not her she's got other income sources she probably be just fine without it
Chase Peckham:But I guarantee you that's an income source as well.
Felipe Arevalo:Yeah. And I get it. There are some people who that is like their income.
Chase Peckham:I mean, there are kids that my, my kids follow YouTubers and those kinds of things that are just local kids here that, um, do weird stuff and then give and then make money. And now they give money away to now they make more money because they give money away. Um, they, it, it, it's the weirdest world I've ever seen.
Felipe Arevalo:I do kind of like those sometimes where they walk up to strangers and they give'em a hundred dollars or things.
Chase Peckham:Yeah, super cool.
Felipe Arevalo:Pay for their groceries. I love it. Waste of time. And sometimes I find myself falling into a, Oh, that's cool. Let's see. Oh, what else does do they have going? Who else are they giving money away to? Um, because you get that philanthropic, like this is awesome. But you know, we've actually, uh, removed YouTube from, from our house, unless there's education purposes, just B arrington w as watching too much YouTube, so he i s no
Chase Peckham:I'm with you. Good for you.
Felipe Arevalo:Allowed to watch, uh, YouTube. He can go on Netflix or Hulu or Disney Plus, which then tells me I have too many streaming services, but<laugh>, but he but not on YouTube. And there's plenty of stuff to watch on, on those services where he should never run out of things to watch. It just doesn't need YouTube. Wow. It's just the algorithm and that's for a whole nother episode. But that algorithm is scary and.
Chase Peckham:yes,
Felipe Arevalo:It just doesn't, doesn't need to be in a, in the hands of a nine year old
Chase Peckham:Talked with. Yes. And I, I'm with you and, and believe me, 14 year olds and 12 year olds, um, they look at the same things and they are influenced heavily, uh, by what's cool and what they think is fun. And uh, they want to buy things that these people are playing with or hawking or whatever it is. Um, and then not to mention, you know, doing the stupid things that they do, they want to emulate that at and thinking that that's smart. Um, which scares the heck out of most of us parents. We have this, we have those conversations every time we see each other. Um, you know, beyond the phones and the everything else. Our kids are just nicer kids when they don't look at that stuff for a Day or two.
Felipe Arevalo:100% agree. Yeah.
Chase Peckham:They just really are.
Felipe Arevalo:If you have, if you have kids and they're on those videos, find a way to take'em away for a couple days and after that initial negative drawback, you will see a positive change.
Chase Peckham:It's serious. It it is, it really is.
Felipe Arevalo:It's a real thing. And I, I don't quite have the science behind it, but it really does make a difference.
Chase Peckham:So, I mean, in this conversation, I think we've all kind of mentioned that we are influenced by these kinds of things. I mean society is, uh, but let me ask you guys individually, uh, and Katie, you, you kind of pushed on it a little bit and so did you, but is there anybody out there that you would, that you follow that you like that just automatically you're gonna wanna buy anything they do cuz I personally don't, uh, I I don't look at anyone, um, and go, Oh my gosh, you know, Reese Witherspoon is pushing these workout pants, I'm gonna go buy those for Kerri or whatever. You know, that's, that's just not something. I don't know if that's just not in me or, or or what.
Katie Utterback:Yeah, I don't know if there's like a specific person for me, but what I can tell you is that I still remember when I was in first grade that the Spice Girls were absolutely huge. And I remember a girl came up to me and she said something about the Spice Girls and had no idea what she was talking about. And I felt so left out and that like shame of not really knowing something.
Chase Peckham:mm-hmm.<affirmative>.
Katie Utterback:and feeling separate.
Chase Peckham:less than.
Katie Utterback:I think that, yeah. I think that that feeling still exists in us as we grow up and we don't necessarily like realize that that's what it is. So we see like a bunch of celebrities or people influencing us in our social media feed talking about cryptocurrency that might, you know, trigger something in us even subconsciously that makes us think like, Oh my gosh, I don't know what that is. I'm behind, I need to just invest in this. And my friend Kim over here is a billionaire. Why am I not gonna trust her? And I think a lot of that exists without us even realizing it. So do I know the person who does that to me? No<laugh>.
Chase Peckham:Right.
Katie Utterback:But I know that they exist.
Chase Peckham:Yeah.
Felipe Arevalo:I think it's interest. I hadn't thought of it the way that you, you explained it right now, but you know, growing up I was always kind of on the outside. I I was never in the inside cultural happenings. I wouldn't have known anything about the Spice Girls. And not just because I was a guy, it was just, that wasn't the music that I listened to at home. I didn't watch the same television. You know, I, my parents, we watch, I watched like the cartoons in the afternoon and that kind of thing, but aside from that, I, I didn't watch the same movies, listen to the same music. So I was always not in the know. Uh, so it, it, um, I I I don't think, I think I just got used to not knowing and I think that's why still to this day, I don't know my movies. I don't know my, you know, who's, who's, what song is that? I don't know if it happened before 2000. I have no clue. I didn't hear it. Um, obviously I've, I've played some catch up. I can keep up a little bit and, and uh, know some random facts here and there, but I, I think that, I don't know that there's one individual person that, that I could think of that could say, Oh hey, come on down and buy this product or, or something like that. If there is, I haven't, you know, found it. I I think there's certain, um, individuals who might be able, like if I, if I get an ad here from Alex Morgan saying, Hey San Diego, we need you here at the playoff game. Uh, come buy tickets. Not that I'm already not gonna buy tickets, but that, that probably would go, okay, that's pretty cool. I'm gonna do that.
Chase Peckham:Yeah, I agree with that. That, but that's also something you're already interested in and somebody Yeah,
Katie Utterback:But see that's how they get you.
Felipe Arevalo:That's because you're already interested in that. And, and I think it, that's, that's where they Yeah, Katie said that's where they get you is you have, it has to be the things that you're already into. You know, if, if you, if I got one for San Diego, Rugby
Speaker 2:<laugh>,
Felipe Arevalo:Doesn't matter who you put on there, it's not gonna happen. It sounds like it might be fun,
Chase Peckham:Right. But it's probably not gonna happen. Now the soccer team making the playoffs in now girls season a new stadium, you know, a San Diego State stadium that's got my attention already and now I just need that little extra motivation that might push me to buy the tickets. And, and I think that's kind of where maybe these people weren't, not that they had never thought of crypto. Yeah.
Felipe Arevalo:But maybe they were already kind of thinking about crypto. I wonder which one. And it was hard not to, when you hear about these overnight millionaires and, and all they did is buy this coin and we're going to the moon and, and all these different things. And maybe that was just that little nudge to get them over the edge that they needed to see Kim Kardashian post about it and say that, you know, her friends told her about it or whatever.
Katie Utterback:That's a good point. Also, do you guys read hashtags in an Instagram post?
Chase Peckham:Interesting. You do that. I you asked that cuz I did'em the other day on a, on a podcast when I had my colonoscopy, uh, yesterday I decided, I'm trying to make that make people aware. I'm not a influencer by any means, but you know,
Felipe Arevalo:Not yet Chase.
Chase Peckham:With my wife passing away from stage four colon cancer, you know, getting, I wanted people to know that I'm going, I went in for my second colonoscopy within a year and uh, found nothing, which is great, but I wanted people to do it and I did hashtags just guessing what those might be. So I, I don't even know if they worked or not.
Katie Utterback:Okay. So you, you use them, but like if you were reading a post, would you read the hashtags?
Chase Peckham:I don't.
Katie Utterback:at the end.
Chase Peckham:I don't know.
Felipe Arevalo:Sometimes I do because that's where the funny thing is<laugh> and, and, and I, I enjoy the, that's I'm looking for the comedy and I'm looking for the enjoyment. So I think I do look at them. I don't ever go clicking on'em unless it's like a really good one. But I, I do actually look at the, the hashtags.
Katie Utterback:Got you. Huh. Cause her hashtags are not really comical. It's just more like Ethereum max, like crypto.
Felipe Arevalo:Yeah.
Katie Utterback:Ad.
Felipe Arevalo:those I would glaze over, but sometimes it's part of the story and you don't get the, it's not as funny if you don't get that.
Katie Utterback:Yeah, that's A good point.
Felipe Arevalo:To hashtag that. Um, I don't use them. I keep most of my social media posts on private or friends of friends only. So even if I use the hashtag, if I use it, it is more for a comedic purpose or an attempt at comedy. And you know, I don't, because I, I know no one else, it's not gonna be public. I'm not gonna set the setting to public. So, um, you know, I don't really use'em in in that way. Um, but I do sometimes look at them and if it's a really good one, I might click on it and then see. Or if I'm really hungry and I see like hashtag tacos or burritos or whatever food item I'm looking at, in case you haven't follow, in case you haven't noticed, I follow a lot of food things.<laugh>, um,<laugh> the, so I may click on, maybe I get an idea on a new taco to try or a new burrito or something. You might do hashtag Blackstone and then get ideas on what to cook tomorrow or next week when you go grocery shopping or things like that.
Katie Utterback:That's true.
Chase Peckham:Yeah.
Felipe Arevalo:hashtag air fryer,#airfryer
Speaker 2:<laugh>,<laugh>. Yeah. Well, I
Speaker 6:Mean, lots of good recipes there,
Speaker 2:<laugh>. Yeah. Well it's funny because I'm getting all these things. I, we've been using my son's Blackstone and I'm getting all kinds of stuff on there and I am getting all those recipes too. So Yeah, I do, I do get hit with those kinds of things. Um, and they are at your fingertips and I can tell you that, uh, TikTok, uh, is almost getting more research than Google is right now. So that's, that's the weird thing, uh, that that is, is kind of in our, I don't know how far into our future that these social media sites are gonna be where we get all of our advertising or most of it, I should say.
Speaker 5:I think Mark Zuckerberg wants us to
Speaker 2:Live there.<laugh>. God help us,
Speaker 6:Lord.
Speaker 2:I'm not, I don't think I'm gonna participate. Nope. And on that, thank you everybody. Please give us a five star rating. Let us know what you think. Uh, do, do you purchase all those things. Let us know. We'll talk to you next week.
Speaker 6:Yeah. Please share this on social media and use lots of hashtags.