Features
“Antisemitism from the Crusades to the Holocaust”
Presented by LIONEL STEIMAN at the Lanny Remis Speakers Forum, May 8, 2025.

One of the questions I wanted to answer in my course on the history of antisemitism was why culturally assimilated European Jews seemed blind to the rising tide of antisemitism during the years in which they had grown up? Of course they didn’t have the benefit of hindsight. They knew of the pogroms, of course, but they were in Russia, not in such sophisticated centres like Vienna, Prague, and Berlin, cities to which Jews from the east had flocked by the thousands, taking advantage of the opportunities offered during the rapid industrialization of the later nineteenth century. In Vienna they would eventually become the propertied and educated elites of the upper middle class. What they underestimated was the danger they faced from masses prone to the appeals of antisemitic demagogues.
The reason was that these Jews were the beneficiaries of what was called “Jewish emancipation,” the removal of age-old restrictions on Jews that had limited what they could do, where they could live, and much more. Emancipation facilitated the admission of Jews to society on terms of equality with other citizens. They were granted the right to vote, freedom of movement, access to education, and other areas from which they had been barred. France was the first country in Europe to emancipate its Jewish population, which it did during the French Revolution. Subsequently, the process of ‘Emancipation’ was launched everywhere in Europe except the Russian Empire, and by the later 19th century was relatively complete.
Emancipation had been the product of the so-called Enlightenment, when philosophers and rulers got the bright idea that Jews, whom they had regarded as scarcely human, would stop being Jews if only they were given an opportunity to be like everyone else. If they were given freedom, the right to vote, and access to other occupations than peddling and money-lending they would lose the negative characteristics associated with Jews. This Jewish ‘character’ was not considered a matter of ‘race’ or ‘blood’, but was seen as a product of the environment in which Jews were forced to live. But behind these novel ideas lay centuries of popular hatred and prejudice rooted in religion and superstition.

So it was almost inevitable that there would be a popular reaction against the emancipation of Jews, and attempts made to roll it back. Jewish entry into areas in which they’d never before been seen made people uneasy, to say the least. And because Jews in western Europe were abandoning their distinctive dress and manner, thus assimilating and becoming indistinguishable from non-Jews, their presence came to be feared all the more. Opponents of emancipation demanded the re-imposition of restraints and restrictions on Jews, many of which dated back centuries. They organized and gave themselves a name intended to distinguish themselves from the religious bigots they scorned. Their “The League of Antisemites”, was founded in 1878 by a journalist by the name of Wilhelm Marr.
The word ‘Antisemite’ was a totally new, totally invented word. But it had a scientific ring to it, as did so much else in this age of scientific progress. Antisemitism dissociated itself from the age-old anti-Jewish prejudices rooted in religion and legend, claiming instead to have a basis in science. The word ‘Semite’ was taken from the field of philology and referred to a grouping of languages, though soon it was referring to a category of people as well. And since Jews were the only “Semites” in Europe, it was they whom anti-Semites opposed. Soon, inflammatory antisemitic publicists and their products proliferated in various countries, most especially in France and Germany, the countries where ‘Emancipation’ had proceeded furthest, and needed to be rolled back. Meanwhile, beneficiaries of Emancipation dismissed antisemitism as a matter for the gutter, or for cynical politicians

The most prominent politician to exploit antisemitism before Hitler was Karl Lueger, the famous mayor of Vienna, who used it to woo the masses. During his tenure from 1897 to 1910, Vienna became the most advanced city in the world: public facilities such as gasworks, public transit, and housing were unmatched anywhere else. And nowhere else in Europe did Jews feel more secure. Lueger was a charming man; with Jewish friends, he was often seen attending Jewish marriages and bar mitzvahs. When the contradiction was pointed out, he replied, “I decide who’s a Jew.” Antisemitism was socially acceptable and taken for granted everywhere. After all, compared to Jews in Russia, with regular pogroms claiming hundreds of lives, Jews in Vienna, Prague, Paris, or Berlin were safe and could relax. They would never have dreamed of joining the hundreds of thousands of Jews fleeing Russia for America every year. In fact, they scorned them, and their Yiddish, which they regarded as a “jargon and not a language at all.

Nothing remotely like the Russian pogroms had occurred in the West since the First Crusade of 1095. Prior to that, the Jews of Europe had enjoyed relative peace and security. And because their value as physicians, merchants, and scholars were prized by rulers, Jews often enjoyed privileges later denied them. So why had everything changed in 1095, with the launch of the first Crusade, the armed campaign to secure recapture the Holy Land from Islam? When Pope Urban II proclaimed the Crusade he made clear there was no act more deserving of heavenly reward than to die on Crusade: to do so was assurance of immediate salvation. But when the first crusaders set out for the Holy Land, they asked themselves: “Why are we going all the way to the Jerusalem to defeat Christ’s Muslim enemies when the Jews who murdered him are right here among us?” So as the armies of French Knights set out for the East, they plundered and massacred age-old Jewish communities en route, and even made significant detours to do so. Some of the Jewish victims believed their suffering heralded the coming of the Messiah. Others thought the Pope had promised a blanket pardon to anyone who killed a Jew. Jews could save themselves by becoming Christian, and some were offered baptism. Such conversions were rare. Far more common was mass ritual suicide, or “Kiddush ha-Shem”, sanctification of the divine name.
Within a century, popular pressures moved the Pope to decide to legislate that Jews everywhere be required to wear some distinguishing mark. Specifics were left to individual countries. France required Jews to wear a yellow patch on their cloaks; Germany required a yellow, cone-shaped hat. To this day, ‘yellow’ has negative connotations, notably that of cowardice. The year of this legislation was 1215: from that point on, Jews are seldom depicted without such insignia, whether in art, sculpture, or other illustrations. This began a process that continued for centuries: the separation of the ‘image’ of the Jew from their human reality. The very word ‘Jew’ became a synonym for various undesirable qualities, triggering repugnance by its very mention.
This separation of the ‘image’ from the individual allowed Jew-hatred to flourish in the absence of Jewish people. In the mid-1970s a student of mine from Sioux Lookout told me that before he came to Winnipeg he thought that “Jew” was simply a word for crooked bargaining. The boy was himself no anti-Semite; he seemed totally open-minded, and eager to learn. I found that people with Jewish friends or a Jewish doctor or other professional could still hold antisemitic views simply because their prejudices were independent of their lived experience. A colleague from a town in the north of England told me that folks there seemed to have three categories of Jews: there were “powerful international Jewish financiers”; there were the Jews in the Bible- the “Israelites”; and there were Jewish shopkeepers, who were well liked but who didn’t affect their prejudices about “the Jews.”
Where did all this begin, this separation of “Jews” from the individual human beings they really were? We have to go back to the very beginning of Christianity, which began as a radical messianic sect of Jews, whose leader, a young rabbi called Jesus, was tried and executed by a Roman court under the authority of the Roman Governor. His followers believed he was the “Messiah” who would transform Israel. Their foremost missionary was Saul of Tarsus, much later known as St. Paul. Although Saul’s original mission was to persecute the followers of Jesus, he underwent a conversion “on the road to Damascus” and joined them. Paul’s sermons and letters became central books in what eventually became the New Testament. Because Greek was the common language of the eastern Mediterranean world, Saul became Paul, and “Messiah” became ‘Christos’. Soon Christians and Jews became ever deeper entrenched in an antagonistic relationship. Christians couldn’t understand why Jews refused to recognize the truth and accept Christ. Either they must be blind, or stupid. Since obviously they were neither, they must be evil. And so in the New Testament’s book of John they are “sons of the devil” and bound to do his work. (John 8:14) During the Holocaust, some people cited the passage from Matthew in which the Jews implicitly confess their guilt for the death of Christ: “His blood be upon us and our children” (Matthew 27:25).
Throughout the centuries that followed, Jews were depicted in various art forms as devil-like creatures, with horns and tails and cloven feet. Sculptures on churches and public places showed Jews with blindfolds signifying they were blind to truth. A particularly popular motif was the so-called “Judensau”, which depicted a rabbi lifting the tail of a huge pig to look for his Talmud, while other Jews gathered beneath the pig to suckle. Variations of the “Judensau” can still be found sculpted in public places in Europe. Then there was the so-called “foetor judaicus.”, the innate stench of the Jewish body. And it only got worse.

The Church Fathers who laid the theological and pastoral foundations of Christianity defined Jews as a threat to the moral and political foundations of Christendom, just as they were a threat to the soul of every individual Christian. Some Church Fathers accused Jews of killing Christ, thus making all Jews thereafter guilty of the crime of “Deicide”, killing God! Scores of other accusations against Jews proliferated. The logic was simple: for if you would kill the Savior, what else wouldn’t you do? Soon Jews were being accused of all manner of outlandish crimes: spreading plague by poisoning wells; killing Jewish children to use their blood in baking matzoh; and even drinking Jewish blood in their rituals. If you would believe what was patently impossible- since drinking blood was taboo for Jews, what wouldn’t you believe? And thus, reasoned one prominent historian of antisemitism, the road to Auschwitz was begun over a thousand years ago.

Incidentally, the last “blood libel” trial was held in Kiev (then in the Russian Empire) Russia in 1913. The verdict was ambiguous: yes, the crime had indeed been committed, but the accused, Mendel Beilis, was not the murderer. Although both sides could claim victory, the trial helped perpetuate the myth of ritual murder: the killing of a Jewish child to use its blood to bake matzoh.
But if the “road to Auschwitz” was begun a thousand years ago, why wasn’t the attempt to exterminate Jewry also begun a thousand years ago? After all, in the 4th century C.E. Christianity became the official religion of the Roman Empire; the Romans made life difficult for Jews but made no attempt to kill them all. Why not? The answer lies with the greatest of the Church Fathers, St. Augustine (354-430). It is true, he wrote, that the Jews are guilty of the crime of Deicide, of killing the Savior. So they should be persecuted, but not too much; and they must be made to suffer, but not too much. And they should not live near Christians. Their suffering and eternal “wandering” would be proof of their guilt; and they would be living (if unwilling) witnesses to the truth of the Christian faith. This idea was repeated in variations by subsequent Popes, who in any case held out the possibility that Jews could avoid all this by converting. The Jewish communities of Europe, despite some ups and downs, were able to live relatively peaceful lives. Theirs was not an unbroken tale of suffering. But the myths, legends, and lies about them remained.
The attack on this hateful tradition began in the 18th century, the age of Enlightenment. The absurd notions of Jews having horns or drinking Christian blood now seemed out of place. Philosophers and intellectuals attacked all manner of superstitions including those that appeared to support Christianity. In attacking the Church these thinkers also attacked its beliefs that justified Jew-hatred. The further decline of religion in subsequent centuries occasioned by the rising prestige of science might have resulted in a decline of anti-Jewish prejudice, but instead the whole cluster of prejudice and superstition only found a more secure foundation in science.
Of course the word ‘science’ here must be qualified, for in the 19th and even part of the 20th centuries “science” included craniology, physiognomy, and eugenics. Today they are regarded as pseudo-sciences and historical curiosities, but prior to World War II they enjoyed a respect like that accorded to physics or any other exact science. Everywhere, “race” was accepted as a valid category for defining human groups, though its analytical usefulness was increasingly questioned until the term itself was discarded. By the 1880s Europe had completed its ranking of the world’s so-called “races” along a sliding scale. White, northern Europeans topped the list, which ranked other inhabitants according to skin colour, head-shape, physiognomy, and other physical characteristics, all of which were believed to denote the intellectual and moral qualities indicating a group’s level of ‘civilization. So where did Jews fit in? At first they were ranked simply as a sub-group of Europeans; one theory even had them at the apex of the white race; but antisemites attempted to find a scientific basis for excluding them. Since the Middle Ages, as was pointed out, Jews were believed to have a distinctly unpleasant odor, so there must be a scientific basis for it; but none was found. Researchers fanned out over Europe measuring skulls, noses, and other physical features thought to distinguish Jews from other white people. Was there a typical ‘Jewish nose’? One survey found the so-called Jewish nose was most prevalent in the Polish nobility. Research found no support for the popular belief that Jews were dark while gentiles were fair. Regional variations were such that many different ‘races existed within any given country. Wider research showed that Jews tended to resemble the populations in whose midst they resided.
In today’s “post-Truth” era we know too well that dangerous beliefs can persist despite overwhelming evidence against them. This is what happened with the cluster of beliefs encompassed in the term ‘antisemitism.’. The failure of science to support antisemitism or the notion of “race” did not stop people from believing that it did. Others recognized that science could provide little support to prejudice, so antisemites shifted their ground again: the essence of race, they argued, was in the blood—not in its physical elements but in elements which could not be measured, and whose power was therefore all the greater. By thus elevating ‘race’ to the level of ‘mystery’ late 19th century racists were merging prejudices based on religion with the emerging force of nationalism based on “race.” To the ancient belief that Jews were the enemies of Christ was added the modern belief that they posed a threat to the nation. Thus religious and racial antisemitism were strengthened by the most powerful political force ever to emerge, modern nationalism. And because Jews were a threat to race, which was the biological foundation of the nation, they were enemies of the state.

The political force of this antisemitism showed itself in 1897 with the election of Karl Lueger as mayor of Vienna, who was mentioned earlier. The antisemitism that was such a powerful force in central Europe also ignited the worst political crisis in France since the French Revolution, the Dreyfus Affair. Raging at the very time Lueger was making Vienna the most advanced city in Europe, the Dreyfus Affair threatened to destroy the French Republic. Spreading far beyond the issue of the guilt or innocence of Alfred Dreyfus, the Jewish officer charged with treason, it polarized the nation between supporters of the Republic, and those who would restore the pillars of the old order: Monarchy, Church, and Aristocracy.
With the spread of industrialism and its threat to agrarian and village life, there was a heightened urgency to demands that the influence of Jews be curbed. The prominent role of Jews in finance capital and speculation earned them blame for the scandals and crashes that dogged the era. Jewish prominence in the free professions of medicine, law, journalism and publishing all increased Jewish vulnerability to various charges of malfeasance. Add to this the persistence of the blood libel, and public depiction of Jews as pigs, goats, and devils; the stereotypes of greedy, conniving Jews proliferating in literature and fairy tales everywhere—the list goes on and on. The reality is that antisemitism had come to permeate the intellectual and cultural life of Europe. Its assumptions were widely shared across the political spectrum; general distaste for Jews was fashionable in high society; blatant antisemitism was articulated at all levels of culture, and freely expressed from church pulpits and in parliaments- including those of Canada.
But what was it about antisemitism in Germany that made the country ripe for a rabidly obsessive anti-Semite like Adolf Hitler? Israel’s most respected Holocaust historian once commented: “If people had been told in 1914 that within one generation most of the Jews of Europe would be murdered, their answer would most certainly have been: The French are capable of any crime.” The reason for this comment was that France was by far the most prolific producer and disseminator of antisemitic literature, purveyed by some of its most respected writers and intellectuals across the political spectrum; it was the home of repeated outbursts of vicious Jew-hatred, most notorious of which was the Dreyfus Affair, the likes of which had never been seen in Germany. The name Edouard-Adolphe Drumont (1844-1917) is synonymous with French antisemitism. In 1886 he published La France Juive. Its Index listed not only prominent Jews but all prominent figures having anything to do with Jews, implicating thousands in what many already believed was an inevitable national degeneration. Drumont provided a list of “hidden Jews” who had been masquerading as Frenchmen. Since antisemitism permeated every element of French culture and politics, there was no need for a specifically anti-Semitic party or movement. Antisemitism was simply a constant in culture and society.

Germany was considered the safest country in Europe for Jews, and although antisemitism was certainly widespread, it hadn’t occasioned significant violence there since the revolutionary upheavals of 1848. So what happened? Why was the Holocaust “Made in Germany”? The answer is Adolf Hitler. There is a consensus amongst many historians: “No Hitler, No Holocaust.” Antisemitism was a necessary cause of the Holocaust, but it was not a sufficient cause. The Nazis were an insignificant bubble in the froth of discontent, for which people commonly blamed the Jews. In the years following World War I, Antisemitism was common currency in political discourse all over Europe. For Hitler, communism and capitalism were both Jewish conspiracies, and the major figures in both were all of them Jews, whether in Moscow or New York. During the 1920s, support for the Communists and Nazis grew, especially during the Great Depression. In 1932, 30% of the German labour force were unemployed, compared to 22.5% in the US and 24% in Canada. Even so, the Nazi victory was not inevitable. In late 1932 the party’s electoral support was declining. There were several other options available, and yet President Hindenburg chose to appoint Hitler Chancellor.
Hitler’s subsequent dismantling of German democracy is part of a complex political story involving far more than the antisemitism which was common everywhere. In any case, Hitler’s genocidal hatred of Jews was not wholly representative. Antisemites may have desired the exclusion of Jews, but not the annihilation of the Jewish people. While Hitler’s murderous fantasies were exceptional, he was able to gain control over the entire state apparatus necessary to realize them. And however extreme his views, their individual elements were available and accessible throughout the Christian West. Everywhere in Europe, the Nazis found accomplices in murder because their victims were Jews, everywhere the historical ‘other’. The Holocaust was the product of a pervasive antisemitism that, in the Nazi mind, placed the Jewish people outside the bounds of humanity, and marked them for extinction.
Features
Israel Has Always Been Treated Differently
By HENRY SREBRNIK We think of the period between 1948 and 1967 as one where Israel was largely accepted by the international community and world opinion, in large part due to revulsion over the Nazi Holocaust. Whereas the Arabs in the former British Mandate of Palestine were, we are told, largely forgotten.
But that’s actually not true. Israel declared its independence on May 14,1948 and fought for its survival in a war lasting almost a year into 1949. A consequence was the expulsion and/or flight of most of the Arab population. In the immediate aftermath of the Second World War, millions of other people across the world were also driven from their homes, and boundaries were redrawn in Europe and Asia that benefited the victorious states, to the detriment of the defeated countries. That is indeed forgotten.
Israel was not admitted to the United Nations until May 11, 1949. Admission was contingent on Israel accepting and fulfilling the obligations of the UN Charter, including elements from previous resolutions like the November 29, 1947 General Assembly Resolution 181, the Partition Plan to create Arab and Jewish states in Palestine. This became a dead letter after Israel’s War of Independence. The victorious Jewish state gained more territory, while an Arab state never emerged. Those parts of Palestine that remained outside Israel ended up with Egypt (Gaza) and Jordan (the Old City of Jerusalem and the West Bank). They were occupied by Israel in 1967, after another defensive war against Arab states.
And even at that, we should recall, UN support for the 1947 partition plan came from a body at that time dominated by Western Europe and Latin American states, along with a Communist bloc temporarily in favour of a Jewish entity, at a time when colonial powers were in charge of much of Asia and Africa. Today, such a plan would have had zero chance of adoption.
After all, on November 10, 1975, the General Assembly, by a vote of 72 in favour, 35 against, with 32 abstentions, passed Resolution 3379, which declared Zionism “a form of racism.” Resolution 3379 officially condemned the national ideology of the Jewish state. Though it was rescinded on December 16, 1991, most of the governments and populations in these countries continue to support that view.
As for the Palestinian Arabs, were they forgotten before 1967? Not at all. The United Nations General Assembly adopted resolution 194 on December 11, 1948, stating that “refugees wishing to return to their homes and live at peace with their neighbours should be permitted to do so at the earliest practicable date, and that compensation should be paid for the property of those choosing not to return and for loss of or damage to property which, under principles of international law or equity, should be made good by the Governments or authorities responsible.” This is the so-called right of return demanded by Israel’s enemies.
As well, the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) was established Dec. 8, 1949. UNRWA’s mandate encompasses Palestinians who fled or were expelled during the 1948 war and subsequent conflicts, as well as their descendants, including legally adopted children. More than 5.6 million Palestinians are registered with UNRWA as refugees. It is the only UN agency dealing with a specific group of refugees. The millions of all other displaced peoples from all other wars come under the auspices of the UN High Commissioner for Refugees (UNHCR). Yet UNRWA has more staff than the UNHRC.
But the difference goes beyond the anomaly of two structures and two bureaucracies. In fact, they have two strikingly different mandates. UNHCR seeks to resettle refugees; UNRWA does not. When, in 1951, John Blanford, UNRWA’s then-director, proposed resettling up to 250,000 refugees in nearby Arab countries, those countries reacted with rage and refused, leading to his departure. The message got through. No UN official since has pushed for resettlement.
Moreover, the UNRWA and UNHCR definitions of a refugee differ markedly. Whereas the UNHCR services only those who’ve actually fled their homelands, the UNRWA definition covers “the descendants of persons who became refugees in 1948,” without any generational limitations.
Israel is the only country that’s the continuous target of three standing UN bodies established and staffed solely for the purpose of advancing the Palestinian cause and bashing Israel — the Committee on the Exercise of the Inalienable Rights of the Palestinian People; the Special Committee to Investigate Israeli Practices Affecting the Human Rights of the Palestinian People; and the Division for Palestinian Rights in the UN’s Department of Political Affairs.
Israel is also the only state whose capital city, Jerusalem, with which the Jewish people have been umbilically linked for more than 3,000 years, is not recognized by almost all other countries.
So from its very inception until today, Israel has been treated differently than all other states, even those, such as the Democratic Republic of Congo, Somalia, and Sudan, immersed in brutal civil wars from their very inception. Newscasts, when reporting about the West Bank, use the term Occupied Palestinian Territories, though there are countless such areas elsewhere on the globe.
Even though Israel left Gaza in September 2005 and is no longer in occupation of the strip (leading to its takeover by Hamas, as we know), this has been contested by the UN, which though not declaring Gaza “occupied” under the legal definition, has referred to Gaza under the nomenclature of “Occupied Palestinian Territories.” It seems Israel, no matter what it does, can’t win. For much of the world, it is seen as an “outlaw” state.
Henry Srebrnik is a professor of political science at the University of Prince Edward Island.
Features
Why New Market Launches Can Influence Investment Strategies
New market launches play a critical role in shaping how investors plan, diversify, and execute their financial strategies. When a company transitions from private ownership to public trading, it creates fresh opportunities for capital participation, valuation discovery, and long-term growth assessment. An upcoming IPO often attracts retail and institutional investors alike, as it offers an opportunity to invest at an early public stage. These launches influence market sentiment, sector momentum, and portfolio allocation decisions, making them an important consideration for anyone seeking to align investment strategies with evolving market dynamics. Understanding how new listings affect pricing, risk, and long-term potential helps investors make more informed, disciplined choices.
Understanding the Role of New Market Launches
New market launches introduce fresh capital, innovation, and competition into public markets. They often signal broader economic trends and provide insights into emerging sectors. For investors, these launches are more than just new tickers—they shape market behavior and strategic planning.
● Expanding Market Opportunities
New listings expand the investable universe by introducing companies that were previously inaccessible. This allows investors to explore new industries, technologies, or business models, helping diversify portfolios and reduce reliance on mature or saturated sectors.
● Price Discovery and Valuation Dynamics
Initial listings go through a price-discovery phase in which demand and supply determine valuation. This process can create short-term volatility but also offers strategic entry points for investors who understand fundamentals and market sentiment.
● Capital Flow Redistribution
When new companies enter the market, capital often shifts from existing stocks to new offerings. This redistribution can influence sector performance and temporarily affect broader indices, thereby altering portfolio allocation strategies.
● Reflection of Economic Confidence
A steady flow of new listings often reflects positive economic sentiment and business confidence. Investors monitor these signals to gauge market health and adjust their equity exposure accordingly.
● Increased Market Liquidity
New launches contribute to overall market liquidity by increasing the number of tradable shares. Increased liquidity improves price efficiency and offers investors more flexibility in executing trades.
How New Listings Shape Investor Decision-Making
Investment strategies are not static; they evolve based on market conditions and available opportunities. New market launches influence how investors assess risk, timing, and portfolio balance.
● Risk Assessment and Appetite
Newly listed companies may carry higher uncertainty due to limited public financial history. Investors must evaluate their risk tolerance and decide whether early exposure aligns with their overall strategy.
● Portfolio Diversification
Including new listings can enhance diversification by adding exposure to different revenue models or growth stages. This helps balance portfolios that may be overly concentrated in established companies.
● Short-Term vs Long-Term Strategies
Some investors seek short-term gains driven by listing momentum, while others focus on long-term value creation. Understanding this distinction helps align new investments with broader financial goals.
● Sector Rotation Strategies
New listings often emerge from high-growth sectors. Investors may rotate capital into these sectors early, anticipating future expansion and innovation-led growth.
● Behavioral Influence on Markets
Public interest and media coverage surrounding new listings can influence investor behavior. Awareness of sentiment-driven movements helps investors avoid emotional decision-making.
Evaluating New Market Launches Effectively
Not all new listings present equal opportunities. A structured evaluation framework helps investors separate strong prospects from speculative risks.
● Business Model Strength
Understanding how a company generates revenue and maintains profitability is a fundamental part of evaluating new market entrants. A well-defined business model shows how products or services create value for customers and how that value is monetized. Scalable models, diversified revenue streams, and predictable income sources often indicate stronger resilience and long-term investment potential, especially in competitive or evolving industries.
● Financial Transparency
Clear and detailed financial disclosures help investors assess a company’s overall health and risk profile. Reviewing revenue growth, operating margins, debt obligations, and cash flow stability provides insight into financial discipline and sustainability. Transparent reporting practices reflect management accountability and reduce uncertainty, enabling investors to make informed decisions based on reliable data rather than speculation.
● Competitive Positioning
A company’s ability to compete effectively within its industry is a key determinant of future performance. Investors analyze market share, differentiation strategies, pricing power, and barriers to entry to understand competitive advantages. Strong positioning suggests the company can defend its market position, withstand competitive pressures, and capitalize on emerging opportunities over time.
● Management and Governance
Leadership quality plays a crucial role in long-term value creation. Experienced executives with a track record of execution, combined with robust corporate governance structures, signal operational credibility. Transparent decision-making, independent oversight, and ethical practices help reduce risk and align management actions with shareholder interests, particularly for newly listed companies.
● Growth Sustainability
While rapid expansion can attract attention, sustainable growth is what supports lasting returns. Investors assess whether realistic assumptions, operational capacity, and consistent market demand support growth projections. Balanced expansion strategies that prioritize profitability, efficiency, and long-term planning are often viewed as more reliable than aggressive growth that strains resources or increases financial risk.
Strategic Timing and Market Conditions
The success of an upcoming IPO is closely linked to strategic timing and prevailing market conditions, which significantly influence investor response and post-listing performance. Market sentiment plays a decisive role, as optimistic, growth-driven environments often generate strong demand for new listings, supporting positive price momentum after debut. In contrast, cautious or volatile markets can suppress enthusiasm, limiting upside potential even for fundamentally strong companies. Alongside sentiment, macroeconomic factors such as interest rate trends, monetary policy direction, and fiscal measures shape capital allocation decisions. Lower interest rates generally encourage investors to seek growth opportunities through IPOs, while tighter policy conditions may dampen risk appetite. Together, timing, sentiment, and policy context form a critical framework for investors to evaluate entry strategies for upcoming IPOs.
Conclusion
New market launches have a meaningful influence on investment strategies by introducing fresh opportunities, shifting capital flows, and shaping market sentiment. From diversification and growth exposure to timing and risk management, these listings require thoughtful evaluation and disciplined execution. By understanding their broader impact and aligning participation with financial goals, investors can integrate new opportunities into well-structured portfolios while maintaining balance and long-term focus.
Features
Are Niche and Unconventional Relationships Monopolizing the Dating World?
The question assumes a battle being waged and lost. It assumes that something fringe has crept into the center and pushed everything else aside. But the dating world has never operated as a single system with uniform rules. People have always sorted themselves according to preference, circumstance, and opportunity. What has changed is the visibility of that sorting and the tools available to execute it.
Online dating generated $10.28 billion globally in 2024. By 2033, projections put that figure at $19.33 billion. A market of that size does not serve one type of person or one type of relationship. It serves demand, and demand has always been fragmented. The apps and platforms we see now simply make that fragmentation visible in ways that provoke commentary.
Relationship Preferences
Niche dating platforms now account for nearly 30 percent of the online dating market, and projections suggest they could hold 42 percent of market share by 2028. This growth reflects how people are sorting themselves into categories that fit their actual lives.

Some want a sugar relationship, others seek partners within specific religious or cultural groups, and still others look for connections based on hobbies or lifestyle choices. The old model of casting a wide net has given way to something more targeted.
A YouGov poll found 55 percent of Americans prefer complete monogamy, while 34 percent describe their ideal relationship as something other than monogamous. About 21 percent of unmarried Americans have tried consensual non-monogamy at some point. These numbers do not suggest a takeover. They suggest a population with varied preferences now has platforms that accommodate those preferences openly rather than forcing everyone into the same structure.
The Numbers Tell a Different Story
Polyamory and consensual non-monogamy receive substantial attention in media coverage and on social platforms. The actual practice rate sits between 4% and 5% of the American population. That figure has remained relatively stable even as public awareness has increased. Being aware of something and participating in it are separate behaviors.
A 2020 YouGov poll reported that 43% of millennials describe their ideal relationship as non-monogamous. Ideals and actions do not always align. People answer surveys about what sounds appealing in theory. They then make decisions based on their specific circumstances, available partners, and emotional capacity. The gap between stated preference and lived reality is substantial.
Where Young People Are Looking
Gen Z accounts for more than 50% of Hinge users. According to a 2025 survey by The Knot, over 50% of engaged couples met through dating apps. These platforms have become primary infrastructure for forming relationships. They are not replacing traditional dating; they are the context in which traditional dating now occurs.
Younger users encounter more relationship styles on these platforms because the platforms allow for it. Someone seeking a conventional monogamous partnership will still find that option readily available. The presence of other options does not eliminate this possibility. It adds to the menu.
Monopoly Implies Exclusion
The framing of the original question suggests that niche relationships might be crowding out mainstream ones. Monopoly means one entity controls a market to the exclusion of competitors. Nothing in the current data supports that characterization.
Mainstream dating apps serve millions of users seeking conventional relationships. These apps have added features to accommodate other preferences, but their core user base remains people looking for monogamous partnerships. The addition of new categories does not subtract from existing ones. Someone filtering for a specific religion or hobby does not prevent another person from using the same platform without those filters.
What Actually Changed
Two things happened. First, apps built segmentation into their business models because segmentation increases user satisfaction. People find what they want faster when they can specify their preferences. Second, social acceptance expanded for certain relationship types that previously operated in private or faced stigma.
Neither of these developments amounts to a monopoly. They amount to market differentiation and cultural acknowledgment. A person seeking a sugar arrangement and a person seeking marriage can both use apps built for their respective purposes. They are not competing for the same resources.
The Perception Problem
Media coverage tends toward novelty. A story about millions of people using apps to find conventional relationships does not generate engagement. A story about unconventional relationship types generates clicks, comments, and shares. This creates a perception gap between how often something is discussed and how often it actually occurs.
The 4% to 5% practicing polyamory receive disproportionate coverage relative to the 55% who prefer complete monogamy. The coverage is not wrong, but it creates an impression of prevalence that exceeds reality.
Where This Leaves Us
Niche relationships are not monopolizing dating. They are becoming more visible and more accommodated by platforms that benefit from serving specific needs. The majority of people seeking relationships still want conventional arrangements, and they still find them through the same channels.
The dating world is larger than it was before. It contains more explicit options. It allows people to state preferences that once required inference or luck. None of this constitutes a takeover. It constitutes an expansion. The space for one type of relationship did not shrink to make room for another. The total space grew.
