
The Acquirers Podcast
Value After Hours S05 E38: WSJ's Spencer Jakab on The Revolution That Wasn't: GameStop and Reddit
Oct 23, 2023
Spencer Jakab of WSJ debunks the GameStop and Reddit saga as a revolution, discussing varying outcomes for investors and legality of the situation. The podcast explores the swarm of day traders impacting Melvin Capital, Batesian mimicry in harmless species, and the importance of consistency in capital structure.
01:00:33
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Quick takeaways
- The GameStop phenomenon was not a revolution and did not permanently change the dynamics of Wall Street.
- Wall Street as a whole still profited from the GameStop frenzy, despite individual investor gains and losses.
Deep dives
The Revolution That Wasn't: A Misnomer
Spencer Jacob discusses his book titled 'The Revolution That Wasn't' and highlights the misconception surrounding the GameStop phenomenon. Contrary to popular belief, the event did not mark a revolution or a permanent change in the dynamics of Wall Street. Media coverage often portrayed it as a victory for the masses against Wall Street, but in reality, Wall Street still made significant profits. Jacob emphasizes that the episode was a fascinating and unique event in history, but it did not disrupt the traditional workings of the financial industry as many had believed.
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