The market doesn't have infinite ability to to absorb risk, right? And the reason that everyone was so upset by robin hood's decision. That day, there actually was a rise during that day because some short sellers still had to cover. The difference now is that at wall street, the people in wall street who care about these things, they're making money off of it. You'll see new meam stocks too that go up a whole bunch because they're talked about on unsocial media. They've got computer programmes that read these posts faster than a human can read it. And they're taking full advantage what's going on, or they don't care. We'll come back
#361: Wall Street Journal columnist Spencer Jakab marks the one-year anniversary of that weird time when the subReddit Wall St Bets pumped shares of meme stocks like GameStop and AMC Theaters, triggering a short squeeze that forced several hedge funds to lose billions.
What did we learn from that experience? And how do we actually take down Wall Street? How do we launch a truly effective financial revolution?
We share those insights in today’s episode.
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