The country is acutely aware this month how messageboard culture and conspiracies drive people to hurt themselves. Now there's a board culture premised on overnight riches while also pushing true believers to lose money to stop a shadowy enemy. Your alarm bells should be blaring.
The whole point of cons is convincing the marks they're in on it. Imagine Qanon, but you can profit off the rubes' stock positions instead of just selling them YouTube ads while telling them they're part of a revolutionary movement exploiting other rubes.
"But what about [name Wall Street practice?]"
Sure, make whatever point you want about it! I'm not arguing with any of it.
But the default response to the conspiracies right now tearing up the country is: "So you think POLITICIANS and the MEDIA are honest?" It's an easy trick.
Sure, make whatever point you want about it! I'm not arguing with any of it.
But the default response to the conspiracies right now tearing up the country is: "So you think POLITICIANS and the MEDIA are honest?" It's an easy trick.
People have learned to recognize politicians using this kind of generic populist sentiment to encourage harmful behavior among supporters. If people take from politicians that they're Freedom Fighters by joining a manic speculation orgy on an app, that's on them as well.
"Qanon but for stocks" overstates it a bit because there IS an actual financial event. But there's obvious parallels right down to a charismatic anonymous leader on a board prompting followers to act on their behalf (and enriching the leader by doing it). Infinite moral hazard.
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