Episode 16: Waste time on Reddit and become a millionaire?

Michael Schaus

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: 

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.

Click here for more episodes:

 


 

Michael Schaus

Michael Schaus

Communications Director

Michael Schaus is communications director at the Nevada Policy Research Institute and is responsible for managing the organization’s messaging with the public, the media and NPRI’s membership. He is also currently a policy advisor for the Heartland Institute.

Prior to joining NPRI, Michael worked in media as a national columnist, a political humorist and a radio talk show host in Denver, Colorado. Active in both print and radio, he shared his insights and free-market economics perspective with large local and national audiences.

Michael became interested in economic theory earlier in life while employed in the financial sector. As the liaison between a local community bank and the Federal Reserve, he acquired an in-depth understanding of just how manipulative big government can be toward industry and enterprise. It was that experience with big-government intervention that initially led him into public-affairs commentary.