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E19: Breaking down Robinhood's GameStop decision: Why did it happen and how can it be prevented in the future?
All-In with Chamath, Jason, Sacks & Friedberg
Investing in a Company That Was Insolvent
The company was insolvent. They did not have the capital requirements to post the margin that was being asked of them by their partners. And so this was a platform level decision to ban and block people from trading securities. It cost individuals hundreds of millions, probably billions, maybe even tens of billions. These mother fuckers should go to jail. By the way, shamot, we should just hihlight that there are forums where individuals that are trading stocks talk to each other and share tips and promote things to one another. That's where this was taking place.
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