Vlad Tenev had to sell off a chunk of his company at a fire-sale price in order to raise a billion dollars in emergency cash, and Dave Portnoy is still insisting that Robinhood was at the center of some sinister scheme. https://twitter.com/stoolpresidente/status/1355215959091519489

The GameStop story began as a cool, interesting tale: ragtag bunch of underdog outsiders use social media to orchestrate a clever campaign to make money and take on the man.

Now it's just becoming a financial version of "Stop the Steal," a stupid conspiracy theory peddled by people who don't understand how things like collateral requirements actually work, and who therefore see sinister behavior wherever they look.

"Robinhood stopped people from buying GME because Citadel told them to" is the new "Wisconsin just dumped 169,000 votes into Biden's tally in the middle of the night." It's just as dumb and ill-informed, and just as frustrating to argue with.

Just personally, one of the reasons the GameStop story was so refreshing to write about and engage with was because it wasn't heavy. The Redditors obviously wanted to stick it to Wall Street, but most of them didn't seem angry: they were doing this partly as a lark.

Now we're once again the morass of anger and paranoia that drove the "this election was stolen" crowd. It's wearisome to contemplate.