From the Chiasmus Archive: "Spotify share price collapses. Was it because of the “Joe Rogan” Misinformation Effect?" February 3, 2022

*This overview of the Spotify share price was written in February 2022, after the price was afffected (amongst other factors) by controversy surrounding Joe Rogan's podcast.  Update on the share price soon *

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The podcast giant who has ran a one sided campaign, intentionally or not, in, unfortunately spreading misinformation, particularly on the COVID-19 pandemic. Has been put on notice by rock star legends like Joni Mitchell and Neil Young who have pulled their music from Spotify in protest of the Joe Rogan podcast, which, when saying you are a libertarian middle ground guy, would be better than populism – Rogan chose populism. And it always comes undone in the end and maybe the Spotify share price, yes we haven’t been taken over by left wing feminist communists’ just yet (sarcasm), is indicative of a market trend that can change direction very quickly. Don’t get too cocky.

Chart 1 above, shows the Luxembourg based company share price beginning to collapse in November 2021 from a high of $300 a share to $169 27th January, four days after Neil Young removed his music from Spotify. With an estimated of $4 billion in revenue drying up after Joni Mitchell and Neil Young made the statement after pulling their music from the online content streaming company, that they would pressure Spotify to check through COVID-19 related content and its misinformation. A force of hand that was coming, when the company, knowing that Rogan carried weight with his conspiracy laced populism, paid him $100 Million to have his podcast on Spotify.

Capitalism cuts both ways.

Worst thing Rogan can do now is claim he is under some kind of ‘witch hunt’. But who knows…

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About misinformation from https://reboot-foundation.org/misinformation-effect:

“What Is the Misinformation Effect?

The misinformation effect was first studied in the 1970s by psychologist and memory expert Elizabeth Loftus. Her research has demonstrated that memory is far easier to influence than might ordinarily be thought.

In one early experiment on the misinformation effect, she and her research team showed participants slides of a car accident, and then later had the participants read inaccurate or misleading information about the accident. The experiment showed that participants easily assimilated this flawed information, making mistakes when later asked what had happened in the accident. 

Even the simple phrasing of a question about the past can influence our memories. In another early experiment, researchers showed participants a video of a minor car accident and later asked them to report on the accident. They found that simply asking subjects a question phrased suggestively — “about how fast were the cars going when they smashed into each other?” — could influence their memories of how serious the accident was.”