Should We Really Be Investing In Ozempic?
Image Source: George Frey/Bloomberg via Getty Images
Ah, Ozempic. The weight-loss drug that has somehow infiltrated the world of celebrity and social media, for what seems to be all the wrong reasons. Ozempic has quickly become Hollywood's worst kept secret, as Variety reported on sources claiming that reality stars and actors were "quietly singing the drug's praises and (worryingly) their hair, makeup and styling teams "have come to accept the injections as part of grooming rituals ahead of major events."
With how entwined celebrity culture is with the world of social media, it came as no surprise when Ozempic memes went viral on TikTok, as Gen-Z joked about jumping on the drug should they one day win the lottery. But over on FinTok (finance TikTok), users are considering hopping on the Ozempic bandwagon via another avenue — investing.
Girls That Invest, a financial account on TikTok, boasted about investing in the weight loss drug. They claimed that "investing in trends instead of only using trends" is a good way to build an investment portfolio. But how far can this idea of investing in beauty trends really travel? Is investing in a trend like Ozempic, that preys on the commodification of quick weight loss, an ethical idea?
@girlsthatinvest Look im not one to use trends but i ABSOLUTELY love following them as an investor #money #finance #budgeting #rich #personalfinance #couple #cash #wealth
♬ original sound - Sofia Richie Grainge
The truth behind the headlines is that Ozempic is a type 2 diabetes medication, prescribed to manage blood glucose levels. It's not for people who don't have diabetes or who are at risk of type 2 diabetes. It works by reducing your appetite, meaning you eat less, and slows down the movement of food in your gut, helping you to stay full for longer.
Here in the UK, Ozempic isn't available, but there are alternatives such as 'Wegovy', which Dr. Hana Patel, NHS GP and GP Medico-Legal expert witness confirms contains the same drug (semaglutide) as Ozempic. "Ozempic is approved to treat Type 2 diabetes in the UK and Wegovy is a higher-dose version that's approved for weight loss and licensed by the drug regulatory agency for this. They aren't interchangeable," she tells us.
Elle Mace, master practitioner and therapeutic coach in body image, weight loss and eating disorders shares her ethical viewpoint on the investment idea with PS UK. She tells us that encouraging individuals to invest in weight loss products like Ozempic can perpetuate unrealistic body ideals and contribute to a culture of body shaming and insecurity.
"I have observed firsthand the harmful effects of promoting weight loss products as a means to achieve beauty standards. In terms of body positivity, investing in weight loss products like Ozempic raises concerns about promoting harmful beauty standards. Profiting from people's body insecurities raises ethical questions about the commodification of human wellbeing," she says.
So, while exploring investment options in Ozempic and similar beauty trends may seem tempting, it's really important to think about the bigger picture and to consider how it impacts body positivity and the ethics of the health and wellness industry as a whole. There are also ramifications for your money too, as Danielle Slater, director of Stephen Eve Financial Planning, explains. Slater has concerns about the high risk that comes with investing in Ozempic and beauty trends as a whole.
Encouraging individuals to invest in weight loss products like Ozempic can perpetuate unrealistic body ideals and contribute to a culture of body shaming and insecurity.
"Many new investors are drawn to trendy investments they see on social media, like cryptocurrencies or companies with viral products. This has led to an increase in clients seeking our advice on these types of investments, which are often influenced by tips from self-proclaimed financial gurus on platforms like TikTok. But before committing your money based on social media trends, it's crucial to conduct thorough research. Verify the credentials of anyone offering financial advice online to ensure they are authorised to do so. Check if they're registered with the FCA (Financial Conduct Authority) for peace of mind," she advises.
It could also be argued that pushing women into investing solely in beauty trends is a way to keep us out of the bigger financial conversations, which Slater believes we should be acting against. "These trends often position investing as a quick fix, steering women away from potentially more lucrative and sustainable options. We need to empower women with knowledge about global equities and make these investment avenues more accessible, as building long-term financial security requires a strategic approach."
The financial advisor encourages a calculated approach to investing, especially for first-timers. "We actively advise our clients to avoid chasing trends as these types of investments can be risky. Timing the market perfectly to buy and sell at the right moment is incredibly difficult, even for seasoned professionals. Studies show missing the 20 best performing days can lead to a 70% drop, significantly impacting returns.
"We recommend globally diversified investment portfolios for all clients, including first-timers. This means spreading your investments across a variety of assets in different sectors and countries. This approach helps to mitigate risk because when some markets are down, others may be performing well," Slater explains.
Essentially, if you're a first-time investor and potentially influenced by TikTok trends, perhaps even tempted to invest in Ozempic, take a moment to reflect on whether a trend aligns with your ethical principles and values before diving in. Remember, trends can be fleeting, and the pace of change is something we're all still adapting to, so take your time before making financial commitments.
Lauren Gordon is the editorial coordinator at PS UK, where she creates lifestyle and identity content. Lauren has a degree in journalism from University of the Arts London and previously worked as a showbiz and TV reporter at The Mirror US. Lauren specialises in pop culture, hair and beauty, focusing on trends, sharing in-depth tutorials, and highlighting hidden gems in the beauty industry.
