The best part about this whole situation is news companies having to translate crude reddit humour and logic in to something old people can understand.
Seeing them trying to explain why billions of dollars move because of people who refer to themselves as retards who want to earn money to buy chicken tenders.
My favorite part is imagining the editorial debate that occurs at more traditional news media as to whether or not to cite a quote from someone with the user name /u/pm-me-videos-of-u-farting or /u/lickmydogsbutt
It’s sad that as a society we still haven’t moved to the point where you can say “fuck” without a bunch of people getting mad. It’s not racist, not bigoted, not sexist etc.
Is there any logical argument to be had for why these words can’t be said? Kids hear these words from peers at school by like the 3rd grade.
Does the Reddit part matter? It seems to be meta humour around completely risky but reasonable behaviour. You can explain pretty much everything about it in standard market terms. Mentioning the memes and crude humour is just getting into drama. (And completely optional)
It is somewhat important to describe how these people are not acting rationally or individually and how these internet groups can group together to have very powerful and unusual effects.
Lots of participants understand what they are doing and are achieving their stated goals (causing chaos). There’s nothing internally inconsistent or irrational about the behaviour to the individuals.
Maybe it’s irrational if you transpose your own form of rationality to others.
I'm sure there's some people who are just successfully aiming to cause chaos. But 3 of my closest friends are in on Gamestop now, and each of them expects they're going to exit at $1000+ and make bank. So in the absence of hard data (which I have no idea how we'd collect) I kinda have to assume that making money is a big motivating factor for people.
"groups can group together to have very powerful and unusual effects."
Yes, like you know start political parties, fight for independance, or whatever. I fail to see why it continues to facinate people that WSB is just as valid an organisation as Greenpeace or IBM.
Not mentioning reddit hides information. News companies should aim to tell us as much as possible what is actually going on. And the reality is the current situation is heavily tied to a specific group on reddit.
People are also directly visiting the subreddit and they will struggle to understand what is going on which is why the news tries to provide translations and explanations.
> News companies should aim to tell us as much as possible what is actually going on.
Key phrase: "what is actually going on". The humor and manner of speech of that subreddit has nothing to do with what is actually going on. It's just superfluous details intended to discredit them without having to explain what is actually going on.
Not just crude humor but bespoke financial vocabulary. Listen to the interview with Lily Francus on Real Vision podcast on Friday. The industry analysts are having to learn some new terminology.
"When we listen to her conversation about this,the words that she uses, between the three of us we have 50+ years of experience watching markets. And she uses phrases that we don't generally use: 'the storybook', 'the epicenter of the god meme', 'the blast radius'. This is a shift in the way the narrative is getting spun"
Seeing them trying to explain why billions of dollars move because of people who refer to themselves as retards who want to earn money to buy chicken tenders.