4 ms·
I am not saying that everyone understands what is happening, but there are a lot of people who took interest and educated themselves on how the stock market wor
by me_me_me 6y ago
I am not saying that everyone understands what is happening, but there are a lot of people who took interest and educated themselves on how the stock market works and what is happening.
Two of my friends got into trading because of this (and not in fuck the system way).
- notahacker 6y agoOh, I don't doubt some people will inform themselves and some people will make some good decisions as a result. Just unconvinced that it'll be a net improvement in the state of public knowledge
- me_me_me 6y agoWhy? Uninformed might have different but still wrong idea, but some people will learn. I don't think you could get net negative in this situation. Or am I missing something?
- notahacker 6y agoIf significant numbers of people become deeply committed to beliefs which are clearly incorrect to rationalise being duped into losing money on a meme, I'd argue that was pretty negative.
- sidibe 6y agoThis happens in ponzi schemes too, people will find a scapegoat rather than feel their ignorance or greed was the problem. Here it's Robinhood and hedge fund conspiracies and Wall street playing by different rules. When MMM ponzi scheme (https://en.wikipedia.org/wiki/MMM_Global https://en.wikipedia.org/wiki/MMM_Global) peaked everyone was furious about people writing negative editorials and government warnings not to jump in.
- notahacker 6y agoI nearly put a reference to MMM true believers actually voting Mavrodi into Parliament to give him immunity from prosecution for defrauding them in my original post. Wonder if any hedge fundies shilling GME on WSB whilst betting big in the opposite direction are bold enough to try that if the SEC comes after them...
- redisman 6y agoHow much can they have really learned in a few days? Certainly not enough to be "trading".