I'm glad we printed this. He makes some really key points in here that people would be well served to understand. 1/x https://twitter.com/lilahrap/status/1357390345366097922
first off, gamers don't love gamestop. at least not any gamers i know. this was never a story about an aggrieved subculture coming to the coming to the defense of some beloved company 2/x
Also it's really important to understand the point he's making here. There has been a lot of vitriol pointed at short sellers. And I would argue much of that is misguided. But for the average person, the distinction doesn't matter. They think the whole damn system is rigged 3/x
I think shorts have gotten the bulk of the attention because a lot of these wsb guys are el*n m*sk stans. Most of the criticism I've heard about short selling would be much more relevant for PE. But shorts were an easy target to make a quick buck. 4/x
And I can't stress this enough... to the average kid looking toward a future of climate change, mountains of debt and shitty job prospects. IT DOESN'T MATTER. They see shorts, long-only, private equity, etc as part of the same cynical, corrupt system. 5/x
they see a bunch of guys making billions by moving some numbers around on a spreadsheet. would they like to get in on that action? of course. but if that doesn't work, then why not crash the whole thing? 6/6
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