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Cool Stuff Ride Home

Wed. 1/27 - Putting Your Money In GameStop is Old News

Cool Stuff Ride Home

Reggie Risseeuw and Marques Pfaff

News, Tech News, Science, Society & Culture

4.6732 Ratings

🗓️ 27 January 2021

⏱️ 16 minutes

🧾️ Download transcript

Summary

A brief dip into the GameStop Wall Street mayhem. A new water-is-wet kind of study proving that money indeed can buy you happiness. And the story of some students who just found out their new professor this semester has been dead for two years. Sponsors: Audible, audible.com/kottke or text kottke to 500-500 to start your 30-day free trial The Jordan Harbinger Show, jordanharbinger.com/subscribe Links: How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors (The Guardian) Happy birthday, Guy Fieri (Garbage Day) Send This to Anyone Who Wants to Know WTF Is Up With GameStop Stock (Vice) Brief GameStop explainer and updates (William LeGate, Twitter) The First National Bank of GameStop (Kottke) Can Money Buy You Happiness? Yes, But There's a Catch (Bloomberg) Dead Man Teaching (Chronicle)  Teacher tweets (Aaron Ansuini, Twitter) Kottke.Org Jackson Bird on Twitter See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:22.9

entrepreneurs like you sign up for your one dollar a month trial at shopify dot com slash setup

0:28.7

welcome to the khatky ride home for, January 27th, 2021. I'm Jackson Bird.

0:43.0

A brief dip into the GameStop Wall Street Mayhem. A new Water is Wet kind of study,

0:51.3

proving that money indeed can buy you happiness, and the story of some students

0:57.4

who just found out that their new professor this semester has been dead for two years.

1:03.8

Here are some of the cool things from the news today.

1:09.2

All right, so I guess we need to talk about the GameStop and Wall Street thing.

1:15.2

So there's this subreddit called Wall Street Betts, and they describe themselves as being like if 4chan found a Bloomberg terminal, which is pretty accurate.

1:25.1

Ryan Broderick in his Garbage Day newsletter describes them as, quote,

1:29.1

Gen Z Libertarian Sociopaths, and quote, radicalized post-Gamergate nihilists, end quote.

1:37.3

So yeah, you kind of get the idea. They've done large campaigns to make money and upend the

1:42.2

balance of Wall Street before, but this latest one

1:44.6

is really taking off. Basically, the guys, it's pretty much all guys, the guys at Wall Street

1:51.1

bets noticed Citron research was shorting the video game store GameStop, basically speculating

1:57.0

GameStop's shares would continue to go down. A safe bet, considering GameStop's

2:01.7

shares have been going down for years. I mean, the company sells physical video games at malls.

2:07.5

It's not hard to do the math. And short-selling is basically what Citron Research does.

2:12.5

But Wall Street bets doesn't like these kinds of establishment Wall Street blowhards,

...

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