GameStop: A One-Min Stop
1- at a macro level, the world sucks and the future is very uncertain
2- at a micro / individual level, frustration and lack of desire
3- (1) and (2) exacerbate the mimetic phenomenon
“Man is the creature who does not know what to desire, and he turns to others in order to make up his mind. We desire what others desire because we imitate their desires.” - René Girard
Mimetic theory: https://en.wikipedia.org/wiki/Mimetic_theory
4- Mimetic desire leads to scapegoating. Societies unify their imitative desires around the destruction of a collectively agreed-upon scapegoat (here Wall Street)
5- The scapegoat theory of intergroup conflict provides an explanation for the correlation between times of relative economic despair and increases in prejudice and violence toward outgroups
Scapegoating: https://en.wikipedia.org/wiki/Scapegoating
6- Intensification of the phenomenon fuelled by hyper connected individuals (fostered by lockdowns) and increased use of social media
7- Anger is channelling towards the establishment and the symbol of all-time winners = money = Wall Street
8- Easy access to market combined with network effect give more substance to the conflict. “Financialisation” of the Occupy Wall Street movement? Quite ironic
Network effect: https://en.wikipedia.org/wiki/Network_effect
9- As a result, today’s representation of value (of certain assets) goes beyond economic fundamentals, and is a collision of rational and irrational behaviours
Fundamentals: https://www.investopedia.com/terms/f/fundamentals.asp
10- Short human beings
11- All in you crazy ***