We are grateful to Xintong Zhan (discussant), Joseph Engelberg, Valeria Fedyk, Runjing Lu, William Mullins, Lin Peng, Andrei Shleifer, Stefan Siegel, Daisy Wang, Ivo Welch, and participants of the Chicago Booth Banking Workshop, the Facebook Computational Social Science Seminar Series, the Conference on Social and Behavioral Finance, the Network Science in Economics Conference, and the China International Conference in Finance for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.