Internet Memes and Group Behavior: Exploring Social Influence in the Digital Age

At the beginning of 2021, a storm sparked by online groups, Elon Musk, and Dogecoin swept in. A simple tweet surprisingly caused the market value of this meme-themed cryptocurrency to surge to about 14 billion dollars in a short period of time. Memes indeed have their unique charm; they can embed themselves deeply in people's minds in a clear and concise way, effectively spreading various ideas.

This phenomenon of memes spreading through the Internet is also discussed in the science fiction novel "Snow Crash." Although the phrase "memes influence the market" is eye-catching, it seems that few people have truly thought deeply about its underlying meaning or have seriously read the book "Snow Crash."

Meme: A Powerful Tool Beyond Humor

In "Snow Crash", this phenomenon is referred to as "memetic virus". Memes are far more than just simple "visual humor". In fact, the term "meme" represents "memetics", which refers to information and cultural elements designed to take root in people's minds to effectively spread ideas and thoughts.

The application of these meme technologies in reality, especially targeted memes disseminated through social media, has widely demonstrated their destructive impact on the democratic process. In addition, memes have also played an important role in the spread of misinformation and false information related to COVID-19, triggering protests against public health measures globally and bringing about tangible negative consequences.

The Power of Online Communities: From Stock Markets to Cryptocurrencies

After the "GameStop" stock price experienced market manipulation, we witnessed how retail investors united to successfully counteract the short-selling operations of large hedge funds on Wall Street. Through collective action, these retail investors not only protested against the strategies of the hedge funds but also effectively retaliated against these funds in the market through coordinated efforts and resource integration.

On social media platforms, we have observed similar group behaviors affecting the market, particularly in operations of "pumping and dumping". This market manipulation has been ongoing for years.

The cryptocurrency sector also exhibits similar group dynamics, especially in Initial Coin Offerings (ICOs). There exists a subtle interaction between project founders and active users in online forums, primarily driven by economic interests, as all participants hope for an increase in the value of cryptocurrencies.

The Prophecy of Cyberpunk: The Fusion of Cyberspace and Reality

As early as the 1990s, cyberpunks foresaw this trend of development. As they predicted, some extreme viewpoints believe that cyber mobs and organized crime groups are an inevitable result of a decentralized internet. The side effects of this trend are reflected not only in the increasingly frequent, severe, and costly DDoS attacks but also in the booming dark web markets.

"Snow Crash" depicts a future world where cyberspace and daily life are intricately intertwined. In this privatized world, different private groups manage various areas of the city, and people can choose the jurisdiction they find least objectionable. This provides a vivid portrayal of a possible future for the online world.

At the same time, crypto projects are beginning to realize that their work is actually about adopting new, more decentralized and digital ways of governance design. This indicates that digitization and decentralization are not only trends in the tech field but are also becoming important components of society and governance structures.

The Future of Governance: Sharing or Control?

If memes truly become the "controlling force of the future economy," then the challenge we face will be how to respond when the ideals of "freedom" and "justice" are no longer determined by the market's "invisible hand" or the "immutable code" of cryptocurrencies, but instead originate from "desire memetics."

The key question is: how should we create a cyberspace based on "sharing" rather than "group control"?

Attention to governance design is rapidly increasing in distributed network communities. People are gradually realizing that "decentralized autonomous organizations" are not a flawless code machine used to guide human behavior. Even permissionless digital infrastructures cannot completely escape governance issues.

Ostrom's theory is particularly important in this regard, as her theoretical framework for managing public goods is becoming an important guide for online community governance. This provides us with a new perspective, viewing digital infrastructure as a "shared resource" or public good, aimed at co-building and maintaining it, rather than as a tool for attack.

Conclusion: Education and Adaptation

Gamestop, Dogecoin, and other meme events continually remind us that all infrastructures, including digital infrastructure, have political attributes. Internet citizens need to be aware that memes are a powerful tool not to be underestimated in this battle for mental and behavioral influence.

The most effective antidote has been proven to be education. For example, European researchers created the GoViral! game, aimed at training students to recognize and understand the development process of memes, helping them distinguish between memes and misinformation.

Although information infrastructure provides individuals with greater freedom, power, and the possibility to participate in governance, we are still exploring the guiding principles for life that are suitable for this digital age. In a future where cyberspace and the real world are increasingly intertwined, those networked groups that can coordinate actions to influence physical markets and public behavior will play an increasingly important role in shaping our world.