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The Breakdown with Shaun King

Ep. 398 - GameStop, Robinhood, and how big money just tried to clobber everyday investors

The Breakdown with Shaun King

The North Star

News, Society & Culture

4.812.6K Ratings

🗓️ 29 January 2021

⏱️ 20 minutes

🧾️ Download transcript

Summary

Let me try to explain the madness of what's going on right now with GameStop, the investing app Robinhood, and so much more. Even if you aren't an investor, let me unpack why this matters to all of us.

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Transcript

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0:00.0

In New York you can gaze up at the towering skyscrapers or...

0:05.0

You can sunbathe on top of one.

0:08.0

In LA you can catch a neon lit rollercoaster ride on Landon-Mona-Capear.

0:14.0

Before catching a California catfish off Santa Monica Pier.

0:19.0

Oh!

0:20.0

Virgin Atlantic fly to the world's most iconic destinations

0:24.0

but how you see them is up to you.

0:26.0

Book now with Virgin Atlantic. See the world differently.

0:30.0

I don't know if you've been following what's been going on with the stock market.

0:35.0

With cryptocurrency, with companies like GameStop and AMC movie theaters in the stock market.

0:44.0

And a whole lot more including investing apps like Robin Hood and Coinbase and others.

0:51.0

It's actually a really, really big deal.

0:55.0

And as much as many of us want to think that it's not an issue of justice,

1:01.0

not an issue of equality, equity, fairness.

1:06.0

I want to unpack and explain why I think it absolutely is.

1:10.0

And I want to try to unpack in just a few minutes what's going on.

1:15.0

It's one of the biggest moments I think in my lifetime in the intersection of financial systems

1:27.0

and everyday people trying to invest and use their money.

1:31.0

And of course, things really have taken the side of the financial systems.

1:38.0

Let me unpack and explain what I mean.

1:40.0

Let me tell you why I think it matters to you even if you're not caught up in it.

1:44.0

It's a huge deal with a lot of repercussions and ramifications.

...

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