When used literally, lodestone refers to the mineral magnetite, a magnetic iron ore. Lodestone is also used figuratively to refer to something that, like a magnet, strongly attracts things.

// The city is a lodestone for aspiring musicians of all genres.

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“Her [Britney Spears’] quest to please a growing constituency was a savvy balancing act; she understood what was expected of a teen star at the time: family-friendly entertainment that didn’t rock anyone’s boat. … Spears handled this feat impressively well in those years. She became a vessel for our intense emotions, but in the process, she would also become a lodestone for criticism of an entire generation’s tastes and habits.” — Craig Jenkins, Vulture, 17 Feb. 2021

The word lodestone is sometimes confused, understandably, with the similar-sounding lodestar. Both combine lode, which comes from the Old English noun lād, meaning “course,” with another word with ancient Old English roots: stone (from stān) and star (from steorra), respectively. Both lodestone and lodestar also refer to things—both literal and figurative—with the power to inspire or compel movement. But while a lodestar is something that leads the way (e.g., a moral principle that guides a person through life), a lodestone draws things toward itself. Sometimes lodestone refers to an actual magnet; indeed, its original use in the early 16th century was as a synonym for magnetite. But it didn’t take long for lodestone to attract a metaphorical sense. Today a business district might be a lodestone for entrepreneurs, or a lottery-playing friend (with the promise of riches as their lodestar) a lodestone—they hope—for good luck.