Thread by @tiffanycli

I'm seeing a lot of ambivalence about $GME from internet researchers and advocates. It's fun to watch a bunch of Redditors take on predatory hedge funds by manipulating stock prices. But these are the same tactics used for harassment campaigns, disinfo influence ops, etc.

Personally, I find it hilarious. In a battle between Big Finance vs. The Internet, I know who I'm rooting for, always. Money is imaginary, the stock market is a simulation, the system is a simulacrum, etc.

https://twitter.com/tiffanycli/status/1353856323331362817?s=20

But I'm also mindful that @wphillips49 and others have repeatedly found that internet users "doing it for the lulz" and ironic trolling can often lead to terrible real-world harms. That's the crux of the uncertainty you'll see from many internet researchers when asked about $GME.

The $GME debacle is so deeply funny bc Wall Street is now complaining about a system they have always treated like a game or, as Warren puts it, “their own personal casino.”

Now, all of a sudden, it’s bad to falsely manipulate stock prices unrelated to value of the company?? 🧐

https://twitter.com/senwarren/status/1354520785822605322

The internet can democratize access, upsetting power dynamics between the people and traditional institutions.

R/wallstreetbets can take on actual Wall Street.

@piratebay can take on big media conglomerates.

#BlackLivesMatter and #MeToo can take on systemic racism and sexism.

But the same tools that can empower the people and positive social movements can also empower harassers, abusers, extremists, and more.

So I can’t say if what we’re seeing with $GME is net good or bad, but it is fun to watch!

Wait, I just remembered this is the bad timeline. Which means I’m going to have to screenshot this thread for a “That aged well” meme in a few years when it turns out stonks caused the Second Great Depression 😔