"Leishman stated that 'more and more people are coming to the conclusion' that they need to gamble to get ahead, as finance and entertainment merge on phone screens."
"He emphasized that the current environment tells users that the safe path of saving no longer works, and only high-risk wagers can lead to financial freedom."
"Leishman contrasted today's market with an earlier era, stating that banking and gambling were once separate activities governed by different norms and expectations."
"He linked the trend of gambling in finance to research showing it correlates with higher levels of debt distress and personal bankruptcy, asserting that 'gambling isn't good for society'."
Alex Leishman warned that modern finance is increasingly resembling a gambling model, moving away from traditional banking. He highlighted the pressures of rising housing costs, student debt, and stagnant wages, which drive people towards high-risk financial products. Leishman noted that finance and entertainment have merged, leading to platforms that promote constant trading and betting. This shift blurs the lines between saving and gambling, resulting in households facing a choice between stagnation and speculative bets, which can lead to increased debt distress and personal bankruptcy.
Read at Bitcoin Magazine
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