The writers of 'Dumb Money' aimed to challenge the financial system by highlighting the diverse range of people involved in the GameStop saga and their motives and emotions behind the movement.
The movie 'Dumb Money' showcases the role of social media platforms like TikTok and Reddit in connecting retail traders, teaching financial concepts, and fostering a passionate and supportive community.
Deep dives
The GameStop Saga
The podcast explores the GameStop stock surge, which captivated millions of retail investors. The stock price soared, causing the collapse of hedge funds and drawing in high-frequency trading firms and even the US Congress. The writers of the movie 'Dumb Money' discuss their fascination with the movement and how it represented an opportunity to challenge the financial system.
The People Behind the Movement
The writers of 'Dumb Money' emphasize the diverse range of people involved in the GameStop saga, challenging the stereotype of retail traders. They conducted interviews and studied the Reddit threads to understand the motives and emotions behind the movement. The film aims to tell an emotional and financial story, highlighting the personal experiences and impact on individuals' lives.
Social Media and Technology
The movie 'Dumb Money' delves into the role of social media in the GameStop saga. It showcases how social media platforms like TikTok and Reddit served as a platform for retail traders to connect, teach each other about financial concepts, and build relationships. The film aims to capture the passion and community spirit that emerged online, reflecting the influence of social media in shaping the movement.
It has been more than two years since GameStop’s stock caught fire on social media, at one point rising 135% in one day. The new film Dumb Money chronicles how the GameStop saga played out. The FT’s Ethan Wu sits down with the movie’s writers, Rebecca Angelo and Lauren Schuker Blum, to get a behind-the-scenes look at everything that went into the film.