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Lvl 132: Bringing Down the Lazy Billionaires!
We did it, procrastin8rs!
We played the rich in their own game.
You've probably heard by now about the whole GameStop fiasco.
The thumbnail version, in case you're out of the loop, is that a big multi-billion dollar hedge fund company bet GameStop shares were gonna go down.
Well, some reddit user picked up on this and encouraged the people of the Interwebs to buy and "HODL" GameStop shares in order to surge the price up.
And it worked! Within a few days, the price multiplied. Ten fold, causing the hedge fund company to lose BILLIONS in assets.
Amazing how that happens. Ya know, we've been asking for a livable wage for years. Only to be told "pull up your boot straps. Git a gud job! Work hard!"
Thing is, people are working hard. People are frankly working their goddamn ass off and for what? Wages that barely cover rent? Yet alone any sort of luxury.
We basically told 'em, well if you ain't gonna redistribute that wealth, we gun' come n' take it!
We gave them a taste of their own medicine. And now wall street is calling for some form of regulation.
Regulation. Hmm...interesting....ya know, what about this "free market" stuff we were talking about earlier?
Turns out, wall street ain't about that free market life.
Nah.
What they're about is being able to control the market to suit their agenda (their agenda being stuffing their fat wallets).
They're just mad they lost at their own damn game.
It's like the bully who gets a black eye after teasing the nerd kid for years. Karma baby!
There are two takeaways from this whole event:
1. The notion that you must "work hard" to become a billionaire is bullshit.
What did it take to put money in a certain place (eg. GameStop stock)? Nothing. Maybe a few clicks? But that's about it. That's what these people are doing on a daily basis to earn and maintain their wealth.
It doesn't take hard work to become wealthy. It takes propaganda to convince the majority of people that it does.
2. The rich aren't as powerful as they want you to believe.
It took a like-minded group of casual investors to completely throw these elitists off guard and make them lose Billions with a B. Imagine what we can do collectively against the wealthy class in the future.
Sure, the handful of billionaires own "nearly half" the wealth in the country, but guess who owns the majority of it? We do.
They say money is power and thus, we have the power.
Enough is enough. These billionaires are lazy bastards. Not only are they lazy. But they're greedy.
We could all live a life of luxury and leisure. It's just a matter of being able to share resources.
The GameStop frenzy sends a message loud and clear: If they ain't gonna share, we're going to take it."
Outplayed in their own game, guys. That's awesome.
But this is just the beginning of something grander. I don't think this is the last time you'll see "the people" do something collaborative like that in some sort of Robin Hood (the dude, not the app) heist of "Take from the rich, give to the poor."
We're no longer asking for "hand outs". We're just taking it.
Read the full blog:
http://www.procrastin8r.com/blog/billionaires
Subscribe to the Newsletter:
http://www.procrastin8r.com/subscribe
View all episodes
By Nate ZeramboWe did it, procrastin8rs!
We played the rich in their own game.
You've probably heard by now about the whole GameStop fiasco.
The thumbnail version, in case you're out of the loop, is that a big multi-billion dollar hedge fund company bet GameStop shares were gonna go down.
Well, some reddit user picked up on this and encouraged the people of the Interwebs to buy and "HODL" GameStop shares in order to surge the price up.
And it worked! Within a few days, the price multiplied. Ten fold, causing the hedge fund company to lose BILLIONS in assets.
Amazing how that happens. Ya know, we've been asking for a livable wage for years. Only to be told "pull up your boot straps. Git a gud job! Work hard!"
Thing is, people are working hard. People are frankly working their goddamn ass off and for what? Wages that barely cover rent? Yet alone any sort of luxury.
We basically told 'em, well if you ain't gonna redistribute that wealth, we gun' come n' take it!
We gave them a taste of their own medicine. And now wall street is calling for some form of regulation.
Regulation. Hmm...interesting....ya know, what about this "free market" stuff we were talking about earlier?
Turns out, wall street ain't about that free market life.
Nah.
What they're about is being able to control the market to suit their agenda (their agenda being stuffing their fat wallets).
They're just mad they lost at their own damn game.
It's like the bully who gets a black eye after teasing the nerd kid for years. Karma baby!
There are two takeaways from this whole event:
1. The notion that you must "work hard" to become a billionaire is bullshit.
What did it take to put money in a certain place (eg. GameStop stock)? Nothing. Maybe a few clicks? But that's about it. That's what these people are doing on a daily basis to earn and maintain their wealth.
It doesn't take hard work to become wealthy. It takes propaganda to convince the majority of people that it does.
2. The rich aren't as powerful as they want you to believe.
It took a like-minded group of casual investors to completely throw these elitists off guard and make them lose Billions with a B. Imagine what we can do collectively against the wealthy class in the future.
Sure, the handful of billionaires own "nearly half" the wealth in the country, but guess who owns the majority of it? We do.
They say money is power and thus, we have the power.
Enough is enough. These billionaires are lazy bastards. Not only are they lazy. But they're greedy.
We could all live a life of luxury and leisure. It's just a matter of being able to share resources.
The GameStop frenzy sends a message loud and clear: If they ain't gonna share, we're going to take it."
Outplayed in their own game, guys. That's awesome.
But this is just the beginning of something grander. I don't think this is the last time you'll see "the people" do something collaborative like that in some sort of Robin Hood (the dude, not the app) heist of "Take from the rich, give to the poor."
We're no longer asking for "hand outs". We're just taking it.
Read the full blog:
http://www.procrastin8r.com/blog/billionaires
Subscribe to the Newsletter:
http://www.procrastin8r.com/subscribe