I was browsing r/wallstreetbets back in December for some stock tips, when I came across a post that was rather different from the usual brand of humour.
Even for r/wsb standards, this was top-quality content. This was one of Dr. Parik Patel, BA, CFA, ACCA Esq’s early top posts, around the time he was getting popular on Twitter. If you don't know who he is, Dr. Patel is FinTwitter, MoneyTwitter, VCTwitter's highest-profile shitposter, second only to Elon Musk.
Since that post on Tesla’s valuation with the Burj Khalifa,
A couple of weeks back while checking out what’s new with his profile, something caught my eye. I had a look at his side-gigs and how he’s leveraging his newfound fame to potentially make money. 💰
And very recently, a friend of mine helped me make an interesting connection. Patel Uncle could actually be a virtual infuencer, like Lil Miquela, who has 3M followers on Instagram and rakes in 10M/year from influencers. Just like Dr. Patel, she is not real. She is infact, a 3D model.
All this left me with some interesting questions.
I was bored and figured I'd dive deeper. In fact, this was too interesting to pass off. And here’s what I found.
Dr. Patel is a parody account that shitposts frequently in the FinMeme community on Twitter.
Who is behind the account? No one knows. Could be Aswath Damodaran. Could Be Chamath. (Probably not). Most likely someone with too much time on their hands putting it to good use.
This is what he says.
“My name is Dr. Parik Patel and I am a Chartered FinMeme Analyst (CFA). I was born in Gujarat, India. When I was just four-years-old, I taught myself partial differential equations and came up with the Black-Scholes model for options pricing, only for it to be stolen by those eponymous “market researchers”….🤔” - Dr. Parik
Elon Musk. Most likely.
His shitposting on twitter paved the way for others. He gave the average man the confidence to f*ck with FinTwitter. He showed people that a FinMeme community exists.
Remember this tweet?
Myopic Wall street immediately tanked $TESLA. The SEC sued him. In hindsight, this was possibly the best growth campaign in all of modern history. More on this in another article.
Memes are fun. But Dr. P’s hit differently.
The juxtaposition of memes with something as serious as the stock market makes his posts absolutely hilarious. He is fresh and original. He’s relatable af. People in finance are stressed and need an outlet. He is the outlet. He looks like an Indian stock market Guru with a list of serious-sounding qualifications and yet he shitposts of the highest quality. You’re caught off guard. Yet you absolutely f*cking love it.
PS: This type of humour is typically characteristic of the self-proclaimed autists at r/wallstreetbets. I absolutely love the fact that it has trickled onto twitter.
Let’s go back to the Pakalu Papito days. (.circa 2015). You had your average meme consumer who usually browsed 9gag and reddit. Things were chill. Memes and finance were usually in different worlds on twitter.
It's different now though. There’s a different breed of influencer in town.
Never before has an account engaged FinTwitter, MoneyTwitter, VCTwitter at this level. What does this mean? His audience are serious folks with money. They love his content and engage with him regularly. Chamath calls him dad.
It’s this access with FinTwitter that opens up doors. He uses memes to access billionaires.
“Within the FinMeme community there is a real market for nerdy accounting and valuation jokes” - Dr. Patel
He has leveraged his reach fairly well.
He runs a newsletter called The Macro Mail which I'm assuming has a fairly large number of subscribers.
He is Chief Meme Officer of @wallstmemes
He has a merch store
And this happened recently.
Sam Parr understands that Dr.P can boost the hustle (55K followers). Getting a high profile account to join your team is a very good growth strategy.
Who reads the hustle? The same audience as Dr. Patel.
I believe this is just the beginning. As the account grows, there are a lot more opportunities that will open up. People will stop dregarding him as a meme account, and more as a virtual influencer who can drive numbers up.
Is he an influencer though? Although a majority of his current content are shitposts, I believe he can diversify. He has a large following on Twitter with a high engagement rate. Meme accounts on Instagram frequently run ads and make a lot of money. He can definitely use his following to endorse relevant brands and help them grow on the platform. (Something I suspect Sam Parr is trying to do).
Now there's tremendous opportunity in direct endorsements. We all know that Endorsements make a lot of money on Youtube/Instagram/tiktok. 💎
“But endorsements are lame Sudharshan” 😡
I know, they're tricky. However they can be woven in, They can be done very well without damaging brand value, and in fact amplify it. Like this video of Linus endorsing Ridge Wallets in his OnlyFans debut.
A very relevant example is Lil Miquela who is estimated to make $10 million/year from endorsements for her parent company, brud. She endorses brands like Calvin Klein and Loreal, and has appeared in videos with Bella Hadid and J Balvin.
A very real benefit of having a virtual influencer is the lower risk they possess. It's harder to cancel someone:
(1) Who doesn't really exist
(2) Has a proclivity to offend and shitpost, which is exactly what people love him for
Now let's have some fun. What can Parik Uncle sell?
🤑 Can he sell an NFT of his tweet to Chamath for 3M?
🍆 Can he endorse Gwyneth Paltrow’s Sexual Wellness brand for 10K USD a post?
🚀 Can he collab with Elon and become musk’s Chief Meme Office and get paid in Bitcoin and tesla shares becoming a millionaire in the next 2 years?
It is fun to speculate. Having a large twitter following is indeed a powerful thing, especially when you use humour to regularly get access to some of the world’s biggest billionaires.
Lots of other accounts have come up following his lead.
Most of these accounts are heavy hitters and have a good reach and engagement rate. I particularly like the Guy with the Digger at Suez Canal that hit 60K followers in 1 week. How many will survive? Depends on the content and meme potential.
Oh, and they usually have a CTA.
What I’m trying to say is,
Memes == 💎
It’s probably a good idea to level up your meme game. If you're bad at this, hire a relevant Chief Meme Officer that your audience engages with. You’ll love it because you’re growing every day, and they’ll love it because they’re getting paid to make memes.
Memes are powerful, so leverage them well. I like Dr. Parik Patel CFA. I wish he was my real uncle.
PS: He has an internship opening, apply here
PPS: Next post is on How my product hit #2 on Product Hunt. If you've enjoyed this article and want more, drop your email below. I write one article per week and send out a short email whenever I publish something new. I'll never spam or share your email with anyone. 💌