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Thread on what $GME & $AMC madness signals about the future:
Me in late 2017: Over the next ten years we will witness the largest turnover of generations in our lifetime. There will be friction. Shit will break.
99% of people:
1/
Me in late 2017: Over the next ten years we will witness the largest turnover of generations in our lifetime. There will be friction. Shit will break.
99% of people:
1/
Me in 2018: Over the next ten years we will witness the largest turnover of generations in our lifetime. There will be friction. Shit will break.
99% of people:
2/
99% of people:
2/
Me in 2019: Over the next ten years we will witness the largest turnover of generations in our lifetime. There will be friction. Shit will break.
99% of people:
3/
99% of people:
3/
Me in 2020: Over the next ten years we will witness the largest turnover of generations in our lifetime. There will be friction. Shit will break.
99% of people:
4/
99% of people:
4/
Jan. 2021: Redditors take on hedge funds & briefly break Wall Street.
99% of people: You never could have seen this coming.
Me:
5/
99% of people: You never could have seen this coming.
Me:
5/
Did I know in '17 a message board would juice $GME & $AMC, enabled by a gamified brokerage app called Robinhood, egged on by Twitter?
Of course not.
What I did know is that every 20-25 years, generations turnover & when it does tectonic shifts occur.
6/
Of course not.
What I did know is that every 20-25 years, generations turnover & when it does tectonic shifts occur.
6/
Today's market is redolent of 1999 - the "dot-com" bubble, which crashed around 2001. #GenX was coming of age; companies were pretending not to need revenue to survive. (Haha.)
7/
7/
Fast forward twenty years, #GenZ is rising. #Boomers have held onto power longer than normal (or healthy) b/c their own portfolios were decimated in '08 and, well, because they decided they could.
The resulting stew is headier than ever.
8/
The resulting stew is headier than ever.
8/
Why? Because people have access to information like never before. Younger generations are savvier than ever before (smartphone, anyone?).
And they are understandably exhausted by the incessant infantilization they've suffered by the media.
This is their moment.
9/
And they are understandably exhausted by the incessant infantilization they've suffered by the media.
This is their moment.
9/
I am not a trader or economist. Much of the bickering over the last 48 hours is about whether what #wallstreetbets did is legal or fair.
That is not for me to say; I am not a regulator.
10/
That is not for me to say; I am not a regulator.
10/
So be clear this is not a conversation about market technicals.
It's a thread about human dynamics. Since the beginning of time, old & new have butted heads.
It's part of the eternal human condition.
11/
It's a thread about human dynamics. Since the beginning of time, old & new have butted heads.
It's part of the eternal human condition.
11/
My suggestion (literally for years) has been to embrace change,
ask younglings what they think rather than dismiss their ideas simply because they're not you,
impart your wisdom to make things better,
and attempt to skate where the puck is going.
12/
ask younglings what they think rather than dismiss their ideas simply because they're not you,
impart your wisdom to make things better,
and attempt to skate where the puck is going.
12/
It's not easy but it's a helluva lot better than irrelevance.
(P.S. Everyone over 70 in Congress should retire. #TermLimits)
END.
#GenZDisruption
(P.S. Everyone over 70 in Congress should retire. #TermLimits)
END.
#GenZDisruption
