Episode 16: Waste time on Reddit and become a millionaire?
Free to Offend Episode 16 | Guest: Paul Dykewicz
When a handful of social media users on Reddit decided to take on Wall Street hedge funds, no one was ready for the chaos that would ensue.
Suddenly, a dying videogame retailer saw its stock price skyrocket over 1,400 percent (you read that right), a hedge fund went insolvent and trading apps like RobinHood showed their true crony-capitalist colors in response.
The “movement” only grew as the days went on, giving it a real revolutionary feel as small-time day traders took on big Wall Street hedge funds—and seemingly won!
Columnist and author Paul Dykewicz (editor of StockInvestor.com and dividendinvestor.com) joined the show to talk about just how bizarre, powerful and consequential the whole saga is for Wall Street. And Nevada Policy’s Michael Schaus argues the “GameStop revolution” is just another turbulent and chaotic example of how we’re living through uniquely transformative and disruptive times.
Free to Offend can also be heard on Amazon and iTunes.
Resources:
- Be Optimistic: The world as we know it is coming to an end
- Nigel Farage talks about the role populism has played in the GameStop saga
- Business Insider takes a stab at explaining the rush from Democrats and Republicans to side with the Reddit investors
Free to Offend:
A podcast that radically defends free speech by regularly practicing it.
Produced by Nevada Policy Research Institute,
featuring Nevada Policy’s Michael Schaus and Robert Fellner.
