Long time back my friend in finance explained me the concept of Arbitrage. Apparently there are computers dedicated to searching stock prices on many stock exchanges. And every now and then a computer finds that a particular stock XYZ is being sold on exchange 1 at 99$ and is being bought at exchange 2 at 100$. Then the computer buys in a chunk of that stock from exchange 1 and sells on exchange 2, making small but sure profit. The opportunity may not come that frequently and the sizes of profit can vary. But if such an opportunity is found, then it must be jumped on because profit is guaranteed.
Before I write anything further, I must declare that I do not like Trump as a person. I do not think he should have become president. I did not vote for Trump.
But his rise from a fringe candidate to main candidate to president continued to baffle me. Throughout the primaries and in election and even right now, I continued to get amazed about how much coverage he was getting and he is getting even right now. This is the post about my attempt to understand the obsession of the media, both professional media and social media, with Trump. My AHA moment was thinking about this as arbitrage.
I think Trump as no friends. He only has enemies of enemies. And the continued media coverage helped him make more enemies and thus in a very convoluted way, get more people on his side by ‘enemies of enemies’ rule.
Just the way financial institutions love ‘financial arbitrage’ the people and media loves ‘moral arbitrage’. Instead of tackling complex issues that do not have good and bad sides clearly marked, they prefer to focus on small, irrelevant issues that have good and bad very clearly defined. So they can take the “good” side and feel good about themselves. This way no one has to face the uncomfortable, inconvenient truths about themselves. No reflection is required. No change to be made within ourselves.
Let’s keep the common people and social media out here. Because portraying the current affairs accurately is not really their job. But what the professional media did is inexcusable. They went after cheap headlines with ‘moral arbitrage’ with far more vigor than after complex issues that really mattered. All they cared about was staying in the positive light. And Trump gave them the perfect opportunity.
If we have to make sure another Trump does not rise in future, someone has to break this frenzied search for moral arbitrage in media. We need media that takes moral risk, handles inconvenient truth and is less judgmental than informative.