People have had enough, it's not just WSB anymore. The community of retail investors in GME is far beyond WSB. It's people that are frustrated with the 1% getting bailed out time and time again and them not seeing a dime at their tax dollar expense.
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.
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.
I hope thinking this way about retail investing reduces the risk of YOLOing one's life savings on individual stocks.
Not anymore, they're not. Such are equities when the price becomes detached from reality. Any moorings one wishes to try and tie the price to, those are gone now.
As they say, past performance is not an indicator of future gains.
Many of societies big issues are intertwined so hopefully addressing one partially addresses many. The golden rule is particularly nasty: those with the gold make the rules.
Most of the time, WSB is a community to commiserate about losses and lie about gains.
That's something I'd say to be funny, especially on reddit.
Those are the ones who would be left holding the bag when the music stops.
We worry about that (people's retirement savings and so on) anytime we see market corrections, a given company go under, and etc... it's not an unusual concern.
When I see 'concern trolling' I usually think of it as just a term slapped on something to hand wave and ignore it.
And there are a number of countries that have that philosophy in legal form. I'm glad to have a choice NOT to live in those countries and I suspect most on HN are similar.
Enough is enough. The only thing keeping the guillotines from coming out is a thriving middle class. Oh wait, that’s been stolen. It badly needs fixing and fast.
Ideally yes, the rest of us are a missed paycheck or major health problem away from becoming homeless and there's no mathematical reason it has to be this way, it's just how we've structured our society.
2. It was stupid.
3. It violated the principles of our society.
That is the point I’m trying to demonstrate. Solutions come from within, not without.
Well... yes? For less than what this guys did Louis XVI lost his head.
They can do what they want and suffer no consequences, of any sort. Neither economic (they get bailed out by us) nor personal (virtually nobody gets personally prosecuted and sent to jail). Why should they stop what they're doing? In their position, I wouldn't.
nothing changed because camping out in a park for a few months without making any actionable, specific demands as a group is not a good tactic for effecting change. BLM was a bit more specific with their demands and have already received a few (if token) concessions.
Voting out the incumbent breaks all these decades long (multi-generational?) relationships with the elites. They will probably reform the relationships to a degree the first time, but if congressional membership dramatically changes every 2 years, those relationships will weaken over time.
To whomever disagrees, please help me understand your reasoning.