7 ms·

Nobody is gambling money away. The sentiment is that they are knowingly _throwing_ it away to send a message.

by ryandward 6y ago

duxup 6y ago
Are we talking about cutting your own nose off to spite someone else's face?
- dx87 6y ago
  Is that any different to taking a day off work to go to a protest? Both situations have you losing money in order to bring issues to light. Same with union workers going on strike.
  - duxup 6y ago
    Except if I were to protest it is focused on that one employer / hits them. Meanwhile this financial system is hardly just a monolithic monster and plenty of big institutions will make money too. I think the populist ideas / results around this are all weirdly misguided.
    - antoniuschan99 6y ago
      Citron mainly is one focus for sure. I'm sure someone knows why Melvin Capital is targeted.
  - fairity 6y ago
    Yes, it's different insofar as the money you're losing in this protest is going directly into the pockets of the group of people you're protesting against. Very illogical way to protest.
  - xyzzyz 6y ago
    Yes, because here they not only lose money, but also all the money they lose is gained by the exact thing they protest against. It’s as if they went to protest Amazon by working at their warehouse for free.
- recursive 6y ago
  Not sure I understand the metaphor, but I think so. Here's a good intro to the mythology. https://www.youtube.com/watch?app=desktop&v=AsTCB0ud2zM https://www.youtube.com/watch?app=desktop&v=AsTCB0ud2zM
- erikpukinskis 6y ago
  My partner and I were so entertained by reading WSB last night we bought a share at $350. I don’t particularly care if it goes to $10 tomorrow. I don’t expect to make money here. It’ll be fun to watch for a few days, maybe weeks. We just felt a lot of solidarity with the sentiment over there, and are happy to make a small contribution to the squeeze. It feels kind of like contributing to a Kickstarter with low chance of success. But you know, there’s a nonzero chance it goes to $1000 before the shorts can wiggle out. That’s what makes it exciting. In general, since watching what they did to Tesla I have no sympathy for shorts.
ghaff 6y ago
So you're saying they're even dumber than they appear at first glance? Sorry, but pissing money away (or actually likely giving it to some Wall Street institution) to send some ill-defined "message" really can't be called anything but dumb.
- ryandward 6y ago
  Even as an econometrician, I would never call it dumb. It's a virtual incarnation of Occupy Wall Street. These guys are probably spending less than those who protested several years ago did. Heck, you can buy a stock and still go to work. No need to forego weeks of labor.
  - ghaff 6y ago
    I guess I find it really weird and unfocused and so mixed in with people who are greedy/stupid that the whole thing just seems absurd.
    - EForEndeavour 6y ago
      I think the absurdity is why it's grown as big as it has: a bizarre combination of conditions achieved critical mass and has exploded into this unplanned, unprecedented paroxysm of pure absurdity that nobody would have predicted because it's so irrational, so stupid, yet it's happening.
- silverpepsi 6y ago
  You just said anyone who has ever contributed to a presidential campaign in their life is a moron. I don't see how this can be interpreted any other way, no one pisses away $100 to the Libertarian candidate expecting he's really going to save over $100 in income tax or reduced regulations the next year...
  - ghaff 6y ago
    I would say that giving money to a libertarian (or other) candidate is a very clear message that you favor their policies compared to the alternatives. Yes, $100 isn't going to move the needle but neither is your individual vote in the vast majority of cases.

Nobody is gambling money away. The sentiment is that they are knowingly _throwing_ it away to send a message.

duxup 6y ago

Are we talking about cutting your own nose off to spite someone else's face?

dx87 6y ago
Is that any different to taking a day off work to go to a protest? Both situations have you losing money in order to bring issues to light. Same with union workers going on strike.
- duxup 6y ago
  Except if I were to protest it is focused on that one employer / hits them. Meanwhile this financial system is hardly just a monolithic monster and plenty of big institutions will make money too. I think the populist ideas / results around this are all weirdly misguided.
  - antoniuschan99 6y ago
    Citron mainly is one focus for sure. I'm sure someone knows why Melvin Capital is targeted.
- fairity 6y ago
  Yes, it's different insofar as the money you're losing in this protest is going directly into the pockets of the group of people you're protesting against. Very illogical way to protest.
- xyzzyz 6y ago
  Yes, because here they not only lose money, but also all the money they lose is gained by the exact thing they protest against. It’s as if they went to protest Amazon by working at their warehouse for free.
recursive 6y ago
Not sure I understand the metaphor, but I think so. Here's a good intro to the mythology. https://www.youtube.com/watch?app=desktop&v=AsTCB0ud2zM https://www.youtube.com/watch?app=desktop&v=AsTCB0ud2zM
erikpukinskis 6y ago
My partner and I were so entertained by reading WSB last night we bought a share at $350. I don’t particularly care if it goes to $10 tomorrow. I don’t expect to make money here. It’ll be fun to watch for a few days, maybe weeks. We just felt a lot of solidarity with the sentiment over there, and are happy to make a small contribution to the squeeze. It feels kind of like contributing to a Kickstarter with low chance of success. But you know, there’s a nonzero chance it goes to $1000 before the shorts can wiggle out. That’s what makes it exciting. In general, since watching what they did to Tesla I have no sympathy for shorts.

ghaff 6y ago

So you're saying they're even dumber than they appear at first glance? Sorry, but pissing money away (or actually likely giving it to some Wall Street institution) to send some ill-defined "message" really can't be called anything but dumb.

ryandward 6y ago
Even as an econometrician, I would never call it dumb. It's a virtual incarnation of Occupy Wall Street. These guys are probably spending less than those who protested several years ago did. Heck, you can buy a stock and still go to work. No need to forego weeks of labor.
- ghaff 6y ago
  I guess I find it really weird and unfocused and so mixed in with people who are greedy/stupid that the whole thing just seems absurd.
  - EForEndeavour 6y ago
    I think the absurdity is why it's grown as big as it has: a bizarre combination of conditions achieved critical mass and has exploded into this unplanned, unprecedented paroxysm of pure absurdity that nobody would have predicted because it's so irrational, so stupid, yet it's happening.
silverpepsi 6y ago
You just said anyone who has ever contributed to a presidential campaign in their life is a moron. I don't see how this can be interpreted any other way, no one pisses away $100 to the Libertarian candidate expecting he's really going to save over $100 in income tax or reduced regulations the next year...
- ghaff 6y ago
  I would say that giving money to a libertarian (or other) candidate is a very clear message that you favor their policies compared to the alternatives. Yes, $100 isn't going to move the needle but neither is your individual vote in the vast majority of cases.