Aileen Lee: Unicorn Money Word

Aileen Lee Money Neologism – Unicorn: U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors:
 

 

“Unicorn” — Aileen Lee

In this context, “Unicorn” refers to a startup company that is valued at over $1 billion by private investors. The term was coined by venture capitalist Aileen Lee in 2013 to describe such highly valued private tech startups.

The “Unicorn” label emphasizes how rare it is for a private company to reach a $1 billion valuation without going public, since there are only a small number of them globally at any given time, similar to how unicorns are mythical, rare creatures.

Lee’s neologism was an effort to highlight and bring more attention to these enormously successful private startups that had achieved extremely high private market valuations.

Money Words – Finance Neologisms
 

Amory Lovins: Feebate, Money Word

Quoted here: “For example, use “feebates”–a self-financing blend of fees and rebates–to encourage people to buy fuel-efficient automobiles. When you register a car, you pay a fee or get a rebate depending on its fuel efficiency; i.e., purchasers of cars that get more than 42 miles per gallon get the rebate, those who buy the guzzlers pay the fee. The fees pay for the rebates.” — Amory B. Lovins
 

Money Word “Feebate” — Amory Lovins

Peter Knight: Fintech, Money Word

Peter Knight was the editor of a business newsletter in the Sunday times in the 1980’s which was titled “Fintech” and is given credit for coining the name.
 

 

Money Word Fintech — Peter Knight

Money Words – Finance Neologisms

Sylvia Pfeifer: Plutonomy, Money Word

Plutonomy, written online first in 2006 in the Telegraph about Sylvia Pfeifer reports and strangely descriptive of the new administration and cabinet in Washington, D.C. ten years later

Money Word “Plutonomy” — Sylvia Pfeifer

The money word “plutonomy” was coined by Citigroup analysts in 2005 to describe economies “where economic growth is powered by and largely consumed by the wealthy few.” Some key points:

• The term combines the words “plutocracy,” meaning rule or power of the wealthy, and “economy” to refer to systems where the rich hold disproportionate wealth and influence.
• When coined, it was used to characterize and analyze economies such as the United States, Canada and United Kingdom that were seen as dependent on consumption by the wealthy for growth.
• The word was intended to draw attention to how an increasing concentration of wealth in fewer hands could shape macroeconomic conditions and performance.
• It highlighted the rising power of top income groups and their outsized impact on these nations’ economic fortunes, for better or worse.

Overall, “plutonomy” was developed by Sylvia Pfeifer and other analysts to concisely describe market-based economies becoming increasingly reliant on the affluent few rather than mass consumption by middle/lower classes.

Money Words – Finance Neologisms

Nathan Smith: Preimburse, Money Word

Funny alteration of a word that means to pay back for an expense, turned on its head to mean “Pay in advance for an expected future expense” – which would demand that we spend the money on that specific expense. First use attributable to Nathan Smith.
 

 

Money Word “Preimburse” — Nathan Smith

There is no context provided for the money word “preimburse” coined by Nathan Smith, so it’s difficult to interpret with certainty. However, making an educated guess:

• “Preimburse” seems to be a portmanteau of “pre” meaning before, and “reimburse” meaning to repay or compensate someone for money spent or losses incurred.
• It could potentially refer to providing funds to someone anticipatorily or proactively, before they have actually spent any money themselves for which they might request reimbursement later.
• In other words, “preimbursing” might mean financing or covering anticipated future expenses up-front rather than paying someone back afterwards.
• The word was likely coined by Nathan Smith to succinctly describe this notion of reimbursing or compensating for costs prior to them being incurred.

Without more context, this is the best interpretation I can provide of the meaning and intent behind Smith coining the money word “preimburse.” Let me know if you need any clarification or have additional questions!

Money Words – Finance Neologisms
 

Seth Leedy: Cryptofinance, Money Word

Reportedly first used by Seth Leedy in 2010
 

 

Money Word “Cryptofinance” — Seth Leedy

Money Words – Finance Neologisms

The money word “cryptofinance” seems to have been coined by Seth Leedy to refer to the new industry and field of finance that utilizes cryptocurrencies and blockchain technology. Some key points:

• “Crypto” refers to cryptocurrencies like Bitcoin and Ethereum, while “finance” indicates it relates to financial services, products and investments.
• Cryptofinance likely describes the growing sector of financial services that deal specifically with cryptocurrencies, such as exchanges, trading, lending, payments, investments and fundraising (ICOs/IEOs).
• It aims to capture how cryptocurrencies and the blockchain are enabling new forms of financial activities and instruments outside of traditional banking and Wall Street.
• By coining this term, Leedy helped create a label for the emerging niche of finance centered around these digital assets and distributed ledger technologies.

So in summary, “cryptofinance” encompasses the financial industry and services that work with cryptocurrencies as part of the new digital economy enabled by blockchain technology.

Robert Haught: Millionerd, Money Word

This Money Word even inspired a song with the lyrics in part as follows:
1 million … Cash on the bench,
my first app thanks!

Mostly loaded,
by a hundred thousand fans.
App Store number 1
 
It was reportedly used first by Robert Haught, reporting in the Daily Oklahoman on Clinton & Dole in the 1996 election.
 

 

Money Word “Millionerd” — Robert Haught

The money word “millionerd” seems to have been first used by Robert Haught to refer to someone who has become a millionaire, likely through their own efforts and business success rather than inheriting wealth. Some potential insights:

• It combines the words “millionaire” with the suffix “-erd”, possibly to connote the individual earned their wealth through hard work and entrepreneurship.
• Using an unconventional portmanteau word like this helps create an identity or label for self-made millionaires distinguished from those who received wealth from others.
• It may have been coined in part to celebrate and promote the idea of building one’s own financial fortune from the ground up through effort, skills and risk-taking.
• The term suggests becoming a millionaire was an achievement or milestone for the individual, one they “earned” rather than having millionaire status handed to them.

So in summary, “millionerd” appears to have been created by Robert Haught as a lighthearted yet identifying label for millionaires who obtained their wealth through entrepreneurial efforts rather than inheritance.

Money Words – Finance Neologisms
 

Steven Colbert: Truthiness, Money Word

Truthiness is a quality characterizing a “truth” that a person making an argument or assertion claims to know intuitively “from the gut” or because it “feels right” without regard to evidence, logic, intellectual examination, or facts – Wikipedia entry for Truthiness

Money Word “Truthiness”
— Steven Colbert

The money word “truthiness” was coined in 2005 by American political satirist Steven Colbert. Some key points:

• Colbert invented the term to mock the concept of perceiving situations or facts intuitively or based on gut feeling rather than evidence or facts.
• It referred to claims that have an emotional, subjective feeling of truth but are not actually supported by verifiable evidence or facts.
• Colbert used it on his show The Colbert Report as a satirical critique of politicians, pundits and public figures asserting opinions as truth without logical reasoning or facts to back them up.
• The word highlighted how personal biases and emotional/ideological leanings can shape perceptions of truth even when contradicted by objective reality.
• “Truthiness” gained widespread usage in describing political rhetoric and debates that prioritized feelings over facts.

So in summary, Steven Colbert coined this term to satirize how gut feelings can be mistaken for or substituted for factual truth, especially in political discourse. It captured the postmodern notion that truth is subjective rather than objective.

Money Words – Finance Neologisms