tl;dr: the next phase of the financial revolution?

I’m writing this on the morning after the GameStop run up and the r/WallStreetBets saga.

By now, the story has played out, or at least the chapter has, so we’ll see how well this post ages.

I didn’t pay close attention to it during the actual day, but in the evening, I got the gist, a little from TV and mostly from Twitter.

My initial reaction was similar to the one that Mark Cuban had. Basically…who cares if some hedge funds get “rekt”?

Then, as I thought about it more, I was thinking about how this is just the next wave of decentralization of information and power, which Russell Okung captured in his tweet:

Then, I started to see that there was a bigger story here than just the technological phenomenon

and then I realized how passionate the movement is.

When the history of this era is written, I suspect they’ll see a trend that began in 2008 and continued through 2020, much like we talk about things like the Missouri Compromise, Dred Scott, etc. culminating in the firing on Fort Sumter.

The next phase?

Don’t just occupy Wall Street. Exit Wall Street.

This is where crypto and DeFi come back into the picture.

I hope there’s no bloodshed (other than the financial kind), but this is really fascinating.