Read on Twitter
I hate to use “unprecedented times” in a tweet but here we are. Reddit, who regularly hosts vile, hateful content, and for years has been a breeding ground for white militant extremism amongst other security threat groups, now bans stonk pumpers. https://twitter.com/stevesimitzis/status/1354645263516717057
At the same time that Bernie stans are a powerful, digitally native army who believe that their leader was robbed of the nomination in large part because of special interest donors part of the “ruling class” /2
At the same time that tech elites now posing as “activists” (
) are decrying tech monopolies for their policies in censoring speech, in reaction to a terrorist attack on America that even mainstream media call a “riot” which BTW Reddit helped incite / 3
) are decrying tech monopolies for their policies in censoring speech, in reaction to a terrorist attack on America that even mainstream media call a “riot” which BTW Reddit helped incite / 3
And that no matter what you think about COVID, the big narrative that everyone understands is that the rich got richer, and everyone else just sucked a stinky rotten egg. /4
So now, we have the power of public networks being used to form trades against a class of capitalists who have done everything they can to create asymmetric advantages over retail investors and who, for the first time, are beating them on the rules of the game / 5
These rules have been “enforced” by the SEC, an agency that is known to be one of the most inconsistent regulators of any regulatory agency on the planet and who have increasingly weakened their enforcement of market manipulators. market manipulation has become normalized. /6
And now, with the billionaire class facing not just losses of capital but losses of market advantage, they are applying enormous pressure on private corporations to try to restrict individuals in using public networks to trade on their own advantages /7
Which are only asymmetric because the billionaire class refuses to believe, no, would have their brand and professional reputation tarnished, if it turns out that they are not the masters of the universe but just actually, like everyone else that has an opinion /8
The next decade is going to be wild. It’s going to radically relocate capital away from the billionaires and redistribute it way more efficiently than socialism could ever do, and it’s all because of networks. Networks move faster than billionaires can change the rules.
Everything is up for grabs. The incumbents will all be replaced. Competitors will create market balance in ways that most of us can’t even imagine and attempts at using power to fight networks will only spread network power. What a decade ahead! /end
