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The James Altucher Show

Three Traders Walk into a Chat Room... | WallStreetBets Founder Jaime Rogozinski

The James Altucher Show

James Altucher

Education, Business

4.62.7K Ratings

🗓️ 3 November 2022

⏱️ 75 minutes

🧾️ Download transcript

Summary

Jaime Rogozinski founded the WallStreetBets sub-Reddit in 2012 during the height of the #OccupyWallStreet movement as a response to how banks use the stock market like a casino. The community provides low-capital investors opportunities and information on how to leverage huge returns in opposition to 'traditional' investing which takes years to generate wealth via compound interest. During the pandemic, the forum exploded in notoriety when the group invested heavily in GameStop, AMC, and other 'meme stocks'. Today, Jaime dives into the history of the group he founded and divulges information on the new 'gamified investing' platform he's looking to launch in 2023!Additional topics include:The difference between WallStreetBets members and "traditional" Investors (00:04:13)The history and ethos of WallStreetBets (00:19:49)"Three traders walk into a chat room..." (00:22:17)The 2021 Gamestop and AMC stock explosion (00:33:28)What WallStreetBets experiments has Jaime run? (00:49:33)Jaime's concepts for the gamification of trading (00:52:21)------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book Skip the Line is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe  to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsStitcheriHeart RadioSpotifyFollow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

Does the little guy have a chance in the stock market?

0:10.7

Most of the time, I think no.

0:12.2

I think Wall Street is just one big scam trying to rip everybody off.

0:16.7

Silicon Valley is kind of not much better, but my next guest will describe how he took

0:23.5

Wall Street bets from this little Reddit subgroup into this.

0:29.0

I mean, there's stories of little kids going from $500 to $55,000, people making millions

0:36.8

because of this one Reddit Wall Street bets.

0:39.5

Like, you might remember when they promoted GameStop and AMC and these stocks went up hundreds

0:44.0

of percent.

0:45.1

This is the guy that started it all.

0:46.9

Let's hear what he has to say.

0:51.0

This isn't your average business podcast and he's not your average host.

0:55.9

This is the James Altiger show.

1:07.6

James, you said you've been a bag of bond mostly since you were 18.

1:11.1

What does that mean?

1:12.1

Did you go to college?

1:13.9

Did you, the word did you just leave home or what did you do?

1:17.1

Yeah.

1:18.1

So I turned 18.

1:19.1

I went to go study.

1:20.4

So DC was where I lived prior to college and then I went to study at University of Illinois.

1:26.8

And I decided to start a company in Boston.

...

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