Never thought I'd see it, but WSB actually seems to be pulling it off. I'm excited about a far future where stock prices are ruled by memelords
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This will lead to huge financial losses from people who follow the shitposters but don't have the otherwise technical perspective on what makes a good long term investment. Memes aside, it's dangerous and people will get hurt.
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The WSB squeeze of Melvin feels like another milestone in the evolution of social media enabling coordinated groups to become the marginal price setter of assets. For the mob it not only provides the potential for rapid returns, but also a sense of power and tribal affiliation 1/
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ehhhh we just kinda had a shitposter as ruler of the free world and.... i have my reservations about this take
