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Are we addicted to our smartphones?

Photo: Rawpixel. Source: Pxhere

In just a few short years, smartphones have taken over immense swaths of our lives. Our phones are stuck to our hands like glue. It’s almost impossible to imagine modern life without them. We use their GPS function to get directions, we consult them for the news of the day, and – above all – we use our phones to stay connected to work, family, and friends. We’re hooked on the tiny jolt of epinephrine that we get every time there’s a little chime or buzz telling us someone likes what we posted.

This new, convenient technology is what’s behind the meteoric rise of Apple, Samsung, Facebook, Tencent, and the other data giants. We really don’t know whether it’s good or bad for us to have watches that vibrate every time we get an email. We’re part of the biggest psychological experiment in human history, with over half the world’s population now connected to the internet and – in the US – folks spending about 6 hours per day with digital media, most of that on mobile devices.

Source: Kleiner Perkins

When I was a teen I decided that I was drinking too much soda. So, I went “cold turkey” and just stopped. For weeks, I didn’t know what to do with my hands – I was so used to holding a soda can and taking occasional sips. It was hard to cut that habit out of my life, but I was able to “white knuckle” the change.

Our digital devices are much more essential to modern life, though, than any particular kind of food. We use our smart devices to manage our time, money, work, relationships, and so much more. Coders know how to design the apps to appeal to the reward centers in our brains. In fact, the use (and misuse) of addictive responses is one of the key ethical dilemmas in information technology. I worry that 30 years from now we’ll look at the ubiquity of smartphones today in the same way we now scoff at old movies where everyone – EVERYONE – is smoking cigarettes.

For now, we’re running a massive, global, 4-billion-user-trial where we don’t really know the long-term effects of all the screen time and haptic feedback and constant connections and everything else. Just be sure that the next time you check your phone, a developer somewhere is smiling.

Douglas R. Tengdin, CFA

Charter Trust Company

“The Best Trust Company in New England”

By |2018-10-03T06:42:23+00:00October 3rd, 2018|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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