Important and deeply cynical: The hype cycle

After reading this essay by Benjamin Kunkelyou'll know exactly what to think about the hyperbolic (geddit?) heading on this post. Too many cool quotes to count, but these will resonate with our readers. I added the bolding in the last paragraph, because it resonated so strongly with me...

You know the drill: the ginned-up enthusiasm of publicists combines with word of mouth (and blog) to create so-called buzz. Articles appear, posing one of three questions. For the new artist: is this the next big thing? For the established artist (or restaurateur): will stratospheric expectations be met? For the figure whose stock is down: can a comeback be staged? Then the release date arrives, or the premiere, or opening; at last the thing itself can contend with its reception. But, wait, now backlash surges alongside the ongoing hype. And understandably, too: it’s not nice being force-fed even the tastiest food. But hold on a second, here comes the backlash-to-the-backlash …

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No, the problem with hype is that it transforms the use value of a would-be work of art into its exchange value. For in the middle (there’s no end) of the hype cycle, the important thing is no longer what a song, movie, or book does to you. The big question is its relationship to its reputation. So instead of abandoning yourself to the artifact, you try to exploit inefficiencies in the reputation market. You can get in on the IPO of a new artist, and trumpet the virtues of the Arctic Monkeys before anyone else has heard of them: this is hype. Or you issue a “sell” recommendation on the overhyped Arctic Monkeys: this is backlash. But there are often steals to be found among recently unloaded assets: “Why’s everybody hatin’ on the Arctic Monkeys?” says the backlash-to-the-backlash. The sophisticated trader is buying, selling, and holding different reputations all at once; the trick in each case is to stay ahead of the market. And the rewards from this trade in reputations redound to your own reputation: even though the market (i.e., other people) dictates your every move, you seem to be a real individual thinking for yourself.

No one will admit to being the 100% tool whose taste is 100% social positioning. Probably no one is that person. But anyone sensitive to art is also sensitive enough to feel his true aesthetic judgments under continuous assault from publicists, bloggers, journalists, advertisers, reviewers, and assorted subcultural specimens. Hype-and-backlash overwhelm the artifacts that supposedly occasion them.