The 'First Time?' meme originates from the 2018 Coen Brothers film, The Ballad of Buster Scruggs. In the segment 'Near Algodones,' James Franco's character is standing at the gallows for a second execution attempt. While waiting, he looks over at a fellow prisoner who is sobbing and asks, 'First time?' with a dry, knowing smirk. The scene quickly went viral as a reaction image to mock people experiencing a common misfortune or stressful situation for the first time. It is widely used in communities like crypto trading, gaming, and professional services to highlight the cynical 'initiation' into a difficult reality.