> Once known for its budget-friendly habits and prudent financial planning— the Indian middle class— day by day is finding itself trapped in a vicious cycle of debt. The pressure to maintain a certain lifestyle, fueled by the rise of social media and the fear of missing out, has led many to take on loans which are way more than their income.
Wild to see the similarities between India and the US as it relates to social media being an economic FOMO flywheel.
> Once known for its budget-friendly habits and prudent financial planning— the Indian middle class— day by day is finding itself trapped in a vicious cycle of debt. The pressure to maintain a certain lifestyle, fueled by the rise of social media and the fear of missing out, has led many to take on loans which are way more than their income.
Wild to see the similarities between India and the US as it relates to social media being an economic FOMO flywheel.