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The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

nytimes.com

61–70 of 90 posts

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#61

My stepson went through the fidget spinner phase in about a month, I think he has a dozen of the damn things I keep finding them. The longest he's stayed interested in anything is a cheap kite I bought him, so I think next year remote control plane.

(off topic sorry) but how about a better kite? A Revolution 4 line is an amazing kite, and stupidly fun to play with and brilliant to watch. And can be launched alone. Highly recommend them, example video - https://youtu.be/sPSyuvCJF4M

So much can (and will) go wrong with an rc plane - another alternative would be a quad?

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#62
post #58

Earlier quoted context omitted.

> there's a gain in both wealth and employment if some of those chaps get organized and start fixing windows. This is the core of the fallacy. There'd be more net wealth without breaking the window in the first place, leaving the guy free to spend that money on someone else's goods/services, who would cause the exact same amount of growth but you'd still have a window. Spending that money that would have been spent r…

I already said that the windows were already broken . And I explicitly said people who would be otherwise unemployed . It's like you didn't read what I wrote. And if breaking windows is a thing we value in society, then it wouldn't be a bad thing to go around breaking windows and continuously employ people to fix them up again. The reason I'm stretching it like this is to make "broken windows fallacy" fit fidget spin…

https://en.wikipedia.org/wiki/The_Scheme_for_Full_Employment

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#63
post #17

I'm confused... she sold tens of thousands of dollars of fidget spinners, getting on that craze immediately that she heard about it (she had product within 5 days) and knowing that it was a fad that was destined to die out (hardly the first... I remember Tamagotchi's pretty well, and the apparently New Zealand-only Chatter Ring). I don't think the comparison to TripAdvisor and travel agents is particularly strong, an…

> I don't think the comparison to TripAdvisor and travel agents is particularly strong, and I think you'd be hard pushed to make the case that thousands of travel agents who'd maybe heard something about the place you wanted to go is better than thousands of reviews and photos from people who've actually been there. TipAdvisor has lots of problems, to be sure, but it's still better than travel agents. Do you remember…

But most of them hadn't spend 3 months traveling in South East Asia, for example. They knew about the resorts and travel companies that could afford to bring them over and show them a good time. For everything else you had to trust Lonely Planet or something, which was a guaranteed meal-ticket for anyone who could get their business mentioned in there, without the benefit of feedback from the people who've visited recently.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#64

Earlier quoted context omitted.

This reminds me of the great (I think) star trek TNG episode The Game (I had to look up the name, then felt silly). I imagine you and your wife picking them up just to be able to make it home without being accosted.

Is that the one where Wesley gets addicted and they basically have to do an intervention on him?

Actually Wesley is the only one who doesn't get addicted and [spoilers follow]

they try to force it upon him but Data saves the day at the end.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#65
post #5

It's rise in India is so fast and deep that it's been sold in local trains for 40-50 Indian rupees (~70 cents). Almost everyone from kids to adults in office and park started spinning it for no reason because they saw someone else spinning and it was just cool. PS: I bought two while in the local train. For me and my wife. A day before that a kid in my flat was showing off his skills and a week after that my 40ish ma…

> 40-50 Indian rupees (~70 cents) Ha! They sold for CAD$15 around here...

I bet they were also selling for CAD$2 if you go to the right place.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#66
post #11
post #7

"disintermediation" I believe this is how an IYI says "cut out the middle man".

What does "IYI" mean?

I think the term was coined by Nassim Taleb https://medium.com/incerto/the-intellectual-yet-idiot-13211e...

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#67

It's hard to put my finger on what exactly unsettled me about the fidget spinner craze, but it seems related to this article. All the hype seemed ad hoc. For Beanie Babies, in retrospect, it felt like a coordinated center (the manufacturer/importer and its marketing arm) surrounded by a bunch of people jumping on the bandwagon. Fidget spinners just felt like every click-baiting view-monger jumping in with their hot t…

The reason I hate the fidget spinner is simply the fact that is a useless item consuming massive amounts of resources which will just end up in the trash - after it has consumed attention and money from people. The amount of plastics and metal that are just going to be thrown away due to them - not to mention their packaging which gets thrown away.... I wish that we could come up with a reasonable way to require stan…

Today's landfills will be tomorrows mines.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#68
post #2

If you read between the lines this is the broken window fallacy: We need people to make useless junk in order to have jobs. But now there is no one making sure the useless junk stays popular, so less jobs. Except that's exactly the broken window fallacy: We could instead spend that money on other things.

Not exactly. Economics is all about trading. Trading is all about wants, desires, and needs. If I make something that everyone wants, it is not useless junk, useless junk is something nobody wants. So it's actually very important to have feedback from middlemen who's livelihood is actually tied to successfully making available desirable things.

There's an economic study I remember seeing in the last couple of decades that studied the value of middlemen. The study started with the assumption that middlemen were parasitic entities, especially since so much economic value seems to come from "cutting out the middle man". But the study authors were most surprised about was that the countries they studied that had the most middlemen, also had the greatest number of economic health indicators. That is they found middlemen to be highly correlated with the economic output of an economy. Their conclusion was that it was probably more than correlated, but largely causative and that middle men probably provided a lot more value than they're generally given credit for.

This article seems to be providing some anecdotal data that supports the value of middle men. At the very least they are good at synthesizing back pressure data for factories so they don't end up overproducing, and have to fill landfills with stuff no one wants.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#69
post #68
post #2

If you read between the lines this is the broken window fallacy: We need people to make useless junk in order to have jobs. But now there is no one making sure the useless junk stays popular, so less jobs. Except that's exactly the broken window fallacy: We could instead spend that money on other things.

Not exactly. Economics is all about trading. Trading is all about wants, desires, and needs. If I make something that everyone wants, it is not useless junk, useless junk is something nobody wants. So it's actually very important to have feedback from middlemen who's livelihood is actually tied to successfully making available desirable things. There's an economic study I remember seeing in the last couple of decades…

Making something that everyone wants is a separate thing than making everyone want something. You can do both and make a lot of money, but if the former is fixing the windows the latter broke people still aren't better off.

For the "middle man" study, I don't know how they came to that conclusion. But the more obvious assumption seems to be that economic output can support more middlemen, so I'm curious what data they used to argue that it works the other way around.

Re: The Rise of the Fidget Spinner and the Fall of the Well-Managed Fad

#70

It's hard to put my finger on what exactly unsettled me about the fidget spinner craze, but it seems related to this article. All the hype seemed ad hoc. For Beanie Babies, in retrospect, it felt like a coordinated center (the manufacturer/importer and its marketing arm) surrounded by a bunch of people jumping on the bandwagon. Fidget spinners just felt like every click-baiting view-monger jumping in with their hot t…

> It's hard to put my finger on what exactly unsettled me about

I blame ...

Take a long hard look at many things you take for granted and realise just how barmey they really are, unless you consider how economics works. Planned obsolescence (washing machine falls apart within legislated years + 1 day) is an obvious consequence of wanting sales to be repeated and profit maximisation. Some firms will aim for a different solution to the formula - eg Miele in that space - by pricing high and generally lasting longer but they really dance to the same tune.

To take perceived value to one ridiculous extreme, a Bugatti Vayron costs in the region of £1M and a modern Ford Fiesta costs say £10K. Is a Veyron really "worth" 100 Fiestas? Reduce them to raw materials and compare value or look at the amount of research time that went into each (my money is on comparable or more on the Fiesta). Both can transport near enough the same number of people but the Fiesta (I think) has a bit more room. The Fiesta almost certainly has more boot (trunk) space.

This seeming nonsense with spinners isn't really incomprehensible and we are all complicit. It is the way of the world and always has been, it's just a bit more complicated these days.

... marketing (and lack of incredulity - I'm guilty too)

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