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Squawk Pod

Games, Stops, Rebellions & Retweets: Reddit Co-Founder & Mark Cuban

Squawk Pod

CNBC

Business News, Investing, Business, News

4494 Ratings

🗓️ 28 January 2021

⏱️ 45 minutes

🧾️ Download transcript

Summary

Reddit co-founder Alexis Ohanian reflects on social media’s role in the GameStop short squeeze drama. He considers the evolution of the Internet and the advent of a new normal where equity investing and communication are democratized. Plus, Mavericks owner, entrepreneur, and investor Mark Cuban weighs in on the Wall Street heat, the role of regulators, and the importance of an investing education--wherever we can find it.

Transcript

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0:00.0

This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our podcast,

0:07.0

GameStop won't stop.

0:09.0

Now it's up 100. Again, over $440.

0:13.4

The Redditor Rebellion's still sending the mall retailer's stock up and making money for a new breed of investors.

0:19.4

I paid my mortgage and I bought a new car, boomer. How's your 3% IRA doing?

0:25.0

Boomer doesn't mean baby boomer. Boomer means Wall Street establishment.

0:29.0

Alexis O'Hanian, the co-founder of Reddit says community matters.

0:33.6

I do think this is a seminal moment.

0:35.2

I don't think we go back to a world before this.

0:38.0

Whether it's one platform or another, this is the mean normal.

0:41.6

And billionaire Mark Cuban.

0:43.0

Do you look at the numbers on GameStop and say, this is realistic?

0:47.0

I think Gamestock has a good chance of going out of business.

0:50.0

The Dallas Maverick's owner and investor on the rate of change.

0:53.1

The only thing that's really changed is the speed and the density and the reduction in friction

0:58.9

for smaller traders to trade.

1:01.4

That's the only thing that's changed. It's Thursday January 28th, 2021.

1:07.0

Squawk Pod begins right now.

1:10.0

Good morning everybody. Welcome to Squackbox here on

1:12.6

see MBC. I'm Becky Quick along with Joe

1:14.8

Kernan and Andrew Ross Sorkin. Let's take a look at the US

1:17.6

equity futures. The game continues with GameStop. The stock dipped overnight, but it's back. It's up nearly 2,000% this month.

...

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