Hey, Allan! Your site is awesome! We expect great things of you.
What are your thoughts at the latest intersection of technology and humanity where Reddit Users “hijacked” Wallsteeet with the GameStop stock? Do you think this activity is a form of “social justice” against the “fat cats” who would be glad to make money off of a company losing value/going out of business??
Apologies that it has taken me some time to respond. Your post is quite timely and truly thought provoking! I will never claim to be an authority on investing, but as it relates to society I will tell you that for me this issue as many others is a double edged sword. There is always a risk with any reward, and certainly not everyone that went in on this opportunity made money. What I found super interesting is hearing about how some of these brokerage providers stopped the little guys to some extent. Certainly they had to make sure they could cover their margins, but to me it seems there is more to the story. There is something to be said about the power of people working together in mass. For me it poses a very interesting concept… could this continue in a way that everyone (the little guys) can have a chance at changing their fortune? Can we all band together to help each other make money in the stock market? Is it wrong to artificially inflate the value of a stock so that hedge funds shorting stocks end up losing billions and go bankrupt? Do the means ever justify the ends?? What about utilizing public organizations in such a way? What are the long lasting effects on such a run to the organization itself? Honestly I have more questions than answers! Let’s continue the conversation… what do you think about it all?
2 Comments
Mindy
Hey, Allan! Your site is awesome! We expect great things of you.
What are your thoughts at the latest intersection of technology and humanity where Reddit Users “hijacked” Wallsteeet with the GameStop stock? Do you think this activity is a form of “social justice” against the “fat cats” who would be glad to make money off of a company losing value/going out of business??
Can’t wait to see more content!
Mindy
allanharari
Mindy,
Apologies that it has taken me some time to respond. Your post is quite timely and truly thought provoking! I will never claim to be an authority on investing, but as it relates to society I will tell you that for me this issue as many others is a double edged sword. There is always a risk with any reward, and certainly not everyone that went in on this opportunity made money. What I found super interesting is hearing about how some of these brokerage providers stopped the little guys to some extent. Certainly they had to make sure they could cover their margins, but to me it seems there is more to the story. There is something to be said about the power of people working together in mass. For me it poses a very interesting concept… could this continue in a way that everyone (the little guys) can have a chance at changing their fortune? Can we all band together to help each other make money in the stock market? Is it wrong to artificially inflate the value of a stock so that hedge funds shorting stocks end up losing billions and go bankrupt? Do the means ever justify the ends?? What about utilizing public organizations in such a way? What are the long lasting effects on such a run to the organization itself? Honestly I have more questions than answers! Let’s continue the conversation… what do you think about it all?