4 ms·

The best part about this whole situation is news companies having to translate crude reddit humour and logic in to something old people can understand. Seeing

The best part about this whole situation is news companies having to translate crude reddit humour and logic in to something old people can understand. Seeing them trying to explain why billions of dollars move because of people who refer to themselves as retards who want to earn money to buy chicken tenders.

viraptor 6y ago
Does the Reddit part matter? It seems to be meta humour around completely risky but reasonable behaviour. You can explain pretty much everything about it in standard market terms. Mentioning the memes and crude humour is just getting into drama. (And completely optional)
- deleted 6y ago
  [deleted]
- PurpleFoxy 6y ago
  It is somewhat important to describe how these people are not acting rationally or individually and how these internet groups can group together to have very powerful and unusual effects.
  - viraptor 6y ago
    And you did just that without referencing either Reddit or memes.
    - PurpleFoxy 6y ago
      Not mentioning reddit hides information. News companies should aim to tell us as much as possible what is actually going on. And the reality is the current situation is heavily tied to a specific group on reddit. People are also directly visiting the subreddit and they will struggle to understand what is going on which is why the news tries to provide translations and explanations.
      - CivBase 6y ago
        > News companies should aim to tell us as much as possible what is actually going on. Key phrase: "what is actually going on". The humor and manner of speech of that subreddit has nothing to do with what is actually going on. It's just superfluous details intended to discredit them without having to explain what is actually going on.
  - have_faith 6y ago
    >not acting rationally Lots of participants understand what they are doing and are achieving their stated goals (causing chaos). There’s nothing internally inconsistent or irrational about the behaviour to the individuals. Maybe it’s irrational if you transpose your own form of rationality to others.
    - SpicyLemonZest 6y ago
      I'm sure there's some people who are just successfully aiming to cause chaos. But 3 of my closest friends are in on Gamestop now, and each of them expects they're going to exit at $1000+ and make bank. So in the absence of hard data (which I have no idea how we'd collect) I kinda have to assume that making money is a big motivating factor for people.
  - throwaway2245 6y ago
    "Rational", in the strict sense, is really only a useful concept if you are wealthy. If I have a spare $50, then deciding how to optimally invest it to end up with $51 is not worth the thought or effort put into that. I'm gonna spend my $50 on entertainment or chicken tenders - here, I have a chance of getting both. It's rational.
  - ClumsyPilot 6y ago
    "groups can group together to have very powerful and unusual effects." Yes, like you know start political parties, fight for independance, or whatever. I fail to see why it continues to facinate people that WSB is just as valid an organisation as Greenpeace or IBM.
sharkweek 6y ago
My favorite part is imagining the editorial debate that occurs at more traditional news media as to whether or not to cite a quote from someone with the user name /u/pm-me-videos-of-u-farting or /u/lickmydogsbutt
- fma 6y ago
  WSJ with their exclusive interviews cites Keith Gill as DeepF---ingValue instead of the whole username
  - kortilla 6y ago
    It’s sad that as a society we still haven’t moved to the point where you can say “fuck” without a bunch of people getting mad. It’s not racist, not bigoted, not sexist etc. Is there any logical argument to be had for why these words can’t be said? Kids hear these words from peers at school by like the 3rd grade.
cblconfederate 6y ago
For a day, wsb had replaced their header image with a giant penis cartoon. No wonder they couldn't show screenshots that day
rantwasp 6y ago
DeepF***Value lol
cccc4all 6y ago
I laughed when CNN had to explain $Becky symbol and meaning of the term "wife's boyfriend". https://www.cnn.com/2021/01/29/investing/wallstreetbets-reddit-culture/index.html https://www.cnn.com/2021/01/29/investing/wallstreetbets-redd...
fortran77 6y ago
Us old people understand--and laugh at--reddit humor just fine.
intrasight 6y ago
Not just crude humor but bespoke financial vocabulary. Listen to the interview with Lily Francus on Real Vision podcast on Friday. The industry analysts are having to learn some new terminology. "When we listen to her conversation about this,the words that she uses, between the three of us we have 50+ years of experience watching markets. And she uses phrases that we don't generally use: 'the storybook', 'the epicenter of the god meme', 'the blast radius'. This is a shift in the way the narrative is getting spun"

viraptor 6y ago

Does the Reddit part matter? It seems to be meta humour around completely risky but reasonable behaviour. You can explain pretty much everything about it in standard market terms. Mentioning the memes and crude humour is just getting into drama. (And completely optional)

deleted 6y ago
[deleted]
PurpleFoxy 6y ago
It is somewhat important to describe how these people are not acting rationally or individually and how these internet groups can group together to have very powerful and unusual effects.
- viraptor 6y ago
  And you did just that without referencing either Reddit or memes.
  - PurpleFoxy 6y ago
    Not mentioning reddit hides information. News companies should aim to tell us as much as possible what is actually going on. And the reality is the current situation is heavily tied to a specific group on reddit. People are also directly visiting the subreddit and they will struggle to understand what is going on which is why the news tries to provide translations and explanations.
    - CivBase 6y ago
      > News companies should aim to tell us as much as possible what is actually going on. Key phrase: "what is actually going on". The humor and manner of speech of that subreddit has nothing to do with what is actually going on. It's just superfluous details intended to discredit them without having to explain what is actually going on.
- have_faith 6y ago
  >not acting rationally Lots of participants understand what they are doing and are achieving their stated goals (causing chaos). There’s nothing internally inconsistent or irrational about the behaviour to the individuals. Maybe it’s irrational if you transpose your own form of rationality to others.
  - SpicyLemonZest 6y ago
    I'm sure there's some people who are just successfully aiming to cause chaos. But 3 of my closest friends are in on Gamestop now, and each of them expects they're going to exit at $1000+ and make bank. So in the absence of hard data (which I have no idea how we'd collect) I kinda have to assume that making money is a big motivating factor for people.
- throwaway2245 6y ago
  "Rational", in the strict sense, is really only a useful concept if you are wealthy. If I have a spare $50, then deciding how to optimally invest it to end up with $51 is not worth the thought or effort put into that. I'm gonna spend my $50 on entertainment or chicken tenders - here, I have a chance of getting both. It's rational.
- ClumsyPilot 6y ago
  "groups can group together to have very powerful and unusual effects." Yes, like you know start political parties, fight for independance, or whatever. I fail to see why it continues to facinate people that WSB is just as valid an organisation as Greenpeace or IBM.

sharkweek 6y ago

My favorite part is imagining the editorial debate that occurs at more traditional news media as to whether or not to cite a quote from someone with the user name /u/pm-me-videos-of-u-farting or /u/lickmydogsbutt

fma 6y ago
WSJ with their exclusive interviews cites Keith Gill as DeepF---ingValue instead of the whole username
- kortilla 6y ago
  It’s sad that as a society we still haven’t moved to the point where you can say “fuck” without a bunch of people getting mad. It’s not racist, not bigoted, not sexist etc. Is there any logical argument to be had for why these words can’t be said? Kids hear these words from peers at school by like the 3rd grade.

cblconfederate 6y ago

For a day, wsb had replaced their header image with a giant penis cartoon. No wonder they couldn't show screenshots that day

rantwasp 6y ago

DeepF***Value lol

cccc4all 6y ago

I laughed when CNN had to explain $Becky symbol and meaning of the term "wife's boyfriend". https://www.cnn.com/2021/01/29/investing/wallstreetbets-reddit-culture/index.html https://www.cnn.com/2021/01/29/investing/wallstreetbets-redd...

fortran77 6y ago

Us old people understand--and laugh at--reddit humor just fine.

intrasight 6y ago

Not just crude humor but bespoke financial vocabulary. Listen to the interview with Lily Francus on Real Vision podcast on Friday. The industry analysts are having to learn some new terminology. "When we listen to her conversation about this,the words that she uses, between the three of us we have 50+ years of experience watching markets. And she uses phrases that we don't generally use: 'the storybook', 'the epicenter of the god meme', 'the blast radius'. This is a shift in the way the narrative is getting spun"