Old Money: In Their Own Words

Hi Byron,

I read your post about Facebook and just wanted to drop a line. You had asked me to write something weeks ago, and I didn’t have anything on my mind at the time. I do now.

I am in a  privileged position: I am not required to have a social media presence in order to conduct business. What’s more, I don’t think it’s necessary to use Facebook or any other platform in order to feel connected to my friends and family.

People have no idea what problems they are creating for themselves by not living their lives more privately. It’s bad enough that credit reporting agencies know as much as they do. That’s not really something you can do much about. Giving information voluntarily for no business purpose is a choice, and one people should make carefully.

I just spent some time in South America, and I can tell you this: when things get really bad economically,  individuals and institutions look for obvious targets to blame and plunder. If people have lived quietly and privately, they have a better chance of not getting in the crosshairs of envious neighbors or bullying bureaucrats.

America hasn’t been hit yet, but 2007 on steroids is rolling its way toward us. There are just too many economic factors coming into play simultaneously. Exactly what challenges and responses this coming downturn is going to trigger is anyone’s guess. I don’t think there are going to be shortages of food, fuel, or housing. I do think that these things will become incredibly expensive. It’s going to squeeze a lot of people. Anger is going to build. And trouble is going to brew.

Oversharing about having a fabulous personal life (true or not), conspicuous displays of wealth, and condescending behavior toward others are the trifecta of just asking for trouble when the worm turns. I think you once mentioned that you sometimes regretted what you shared with people but rarely regretted what you didn’t share. I think privacy is like that, which Facebook just obliterates.

Like you’ve always said, everyone will be a lot better off in oxford button-downs, khakis, penny loafers, a used car, and a modest attitude. And I’ll add: a low profile online.

I shall now step down off my soapbox, and leave the rest to you.


17 thoughts on “Old Money: In Their Own Words

  1. I agree with this sentiment completely. Dress modestly, act modestly, and post modestly, if at all. People lose so much wealth buying new cars vs demos/used ones it’s a real shame. People lose even more by turning over their privacy to Facebook. I love the blog Byron. Keep it up!

  2. I really really enjoyed this post ARC. Thanks for sharing it with us Mr. Tully. I’m only 25 but have maintained a low profile online since I was 15. Only now that I have started writing on my blog do I have a little online presence..

  3. Remember Carter bonds? Just wait until mighty greenback hits the home run. The money are leaving NY; tons of money! Once the greenback will return home, you will not have enough money to back it.
    What about reading The Memoirs Of Felix Somary?
    Good luck!

  4. I completely agree with the thoughts on living a private life. When I encourage the younger members of my family to be discreet with what they post on Facebook and other social media they think I am living in the past. They believe that you have to post on Facebook so that “everyone knows what you are doing.” It is a rare young person who is discreet in today’s social media fueled world.

  5. After reading this, I can’t help but ask for thoughts on the Met Gala and what kind of message that sort of event now sends to the wider populace? I wonder if we have reached a point of peak decadence and the pursuit thereof is the only thing motivating people nowadays.

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