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Jamie Dimon: TikTok and Facebook are a ‘total stupid waste of time’
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Jamie Dimon: TikTok and Facebook are a ‘total stupid waste of time’

According to Jamie Dimon, CEO of JPMorgan, young people should spend less time on social media and more time reading books.

Dimon was speaking at the Georgetown Psaros Center for Financial Markets and Policy’s annual Financial Markets Quality Conference when he was asked if he had any advice for the students there.

“For most of you, turn off TikTok and Facebook. Totally stupid waste of time,” Dimon said.

Dimon said that their time could be much better spent by reading a lot and reading history books.

“My advice to students: learn, learn, learn, learn, learn, learn, learn. If you’re a Democrat, read the Republican view, the good one. If you’re a Republican, read the Democratic view,” Dimon said earlier in his response.

“Read history books. You can’t make it up. Nelson Mandela, Abe Lincoln, Sam Walton. You only learn by reading and talking to other people. There’s no other way,” he added.

Representatives for Dimon at JPMorgan, TikTok and Meta did not immediately respond to requests for comment sent outside regular business hours.

Unlike most business people, Dimon keeps a relatively low profile on social media.

Besides LinkedIn, Dimon does not use platforms such as Facebook, X or TikTok. However, he admitted in 2021 that he had an Instagram account under a false username.

Dimon also criticized social media in his annual letter to shareholders this year, arguing that the platforms needed to do more to address the problems they themselves had created.

“There is no doubt that social media has some real negative effects, from the manipulation of elections to the increasingly documented negative effects on children’s mental health,” Dimon wrote.

“These are issues that impact our individual and collective spheres,” he added, “and it’s time for social media companies to take greater action to address these challenges — and quickly.”