Read on Twitter
One thing I've learned from running @Quillette is that professionals can be very territorial. Being a member of a particular industry comes with status, a shared language, shared customs, an in-group, a tribe 1/
A big part of academia is the shared language, & shared etiquette. Many academics hate @Quillette because we encroach on their territory but don't pay attention to the etiquette. A clear-thinking undergrad can have more influence on our pages than a tenured professor, for example
The Redditors at r/WallStreetBets are now busting open the territory of finance. It doesn't take long for the average person to understand the language of finance if it is explained clearly... and professional investors are going to be pissed about it
Because it's not just about losing money--it's about losing prestige. If everyone can use the shared language, then it's no longer exclusive, & no longer signal of status. It also disrupts the conceit that one has to be a super smart to get it in the first place
So expect professional investors to hold the amateurs in contempt. Not because they are losing money. But because they have constructed an identity out of finance being exclusive & high status. They won't want to be associated with unwashed masses & will resist it
