This is Financial Advice
Вставка
- Опубліковано 4 тра 2024
- Clickbait Title: if the price is zero then you can buy all the shares
I tell you what, when you try and tell this story you either sum it up in ten minutes with the broadest strokes or you settle in for a rabbit hole made entirely out of onions and ogres. Conspiracy theorists flock together and constantly try and rope each other into the orbit of their personal hobby horse conspiracy, so once you break the surface suddenly you're digging through endless side stories, each with their own cast of characters, trying to figure out if some tertiary claim is true, was maybe true in the past but is no longer true, or was never true, and discover that the only sources on the matter are the same three people quoting each other in an endless circle of false legitimacy.
Written by Dan Olson and Nathan Landel
Performed by Dan Olson
Camera by Dan Olson and Kara Artym
Edited by Dan Olson
Production Assistant Laura Schultz
Featuring music by Young Neighbours - linktr.ee/youngneighbours
Special thanks to Eric Pauls, a friend of mine from film school, for digging up 15 year old hard drives just to re-master some songs he wrote back in college when I was like "those old tracks you and Cam did, they've got the perfect vibe I'm looking for!"
Crowdfunding: / foldablehuman
Twitter: / foldablehuman
BlueSky:
00:00:00 - Diamond Hands
00:02:14 - Heat Lamp
00:13:26 - GME Fallout
00:23:31 - MOASS
00:58:10 - The Vote
01:04:36 - Deep F*ing Value
01:12:39 - Measure of a Meme Stock
01:16:38 - Due Diligence
01:50:27 - The Book King
01:55:38 - Teddy Day
02:07:32 - BBBY Endgame
02:18:03 - BBBankruptcy - Розваги
if someone asked me to imagine the worst, least functional government possible, I think "plutocracy, but it's run by runescape players" would probably be in the top 5
Oh, so you've seen his Decentraland Video?
@@XanthinZardahow could you say the "We held a vote on whether or not politics are allowed in our governance system and decided that politics will not be allowed unless a future democratic vote decrees that they will be." Guys wouldn't be competent at running the entire world!!!?
anything to make Flute Salad the national anthem
@@luxill0si want you to write me a detailed essay on the impacts of american interventionism in other countries, then get back to me on whatever it is you think venezuela did wrong.
Amusingly, this already exists, and it's called Runescape. Old School Runescape has a polling system where a supermajority of members have to vote to approve of any change prior to it being implemented, ostensibly to keep the trust of the playerbase and prevent another exodus like the one that happened after the extremely unpopular free trade removal, Evolution of Combat, and Squeal of Fortune updates.
In practice, it mostly gets used as a way for people who have spent hundreds or thousands of hours on the game to prevent anyone from ever getting a level or item without having to go through just as bad of a grind as they did, or a way for the PvE and PvP communities to work out their beef via downvoting each others' updates.
Shout out to the Game Stop employee who was like "umm, I don't think it makes sense to merge a video game store with a company that sells candles."
Honestly I really like playing games by candlelight but I've learned to never bet on my tastes being shared by others.
imagine: mountain dew and doritos scented candles
@drewbabe you know PepsiCo buying GameStop somehow makes more sense...
@@drewbabeI think those might exist, there is at least mountain dew soap
@notapplicable6985 So of course I had to check. Result? They don't officially exist however there are secondary markets that make both of them. Normally I wouldn't post that since it's kinda non-news, but when looking into it I found something neat. You don't need Doritos candles because Dorito chips burn like candles already. Just stick em into a fire proof base like sand and thanks to the oils in them apparently uou can just light them up. Gonna test it tonight.
Sold all of my remaining GME shares today. Thanks for waking me up
I’ll make the money back eventually.
Sorry that happened, I'm glad you made it out
Glad you got out! That stuff isn't easy. Hope you didn't lose too much.
Side-note: you’ve sold during a solid price spike, so that was good thinking. But now, if the price does rise more, don’t be convinced that you’ve made a mistake. Don’t concern yourself with theoretical losses that never were.
@@Arrakiz666 Yeah, I couldn’t care less about the price action. I went into GME thinking it would be a million-dollar squeeze and it was stupid of me to even fathom something like that happening in the first place 😂 I was just waiting for the next spike to occur so I could pull out; many people are still incredibly in the red regardless but apparently to them you don’t incur a loss until you sell…
I’ve recently started investing solely into index funds and will continue to do so. I’m only 21 so I’m not too concerned financially. I’m more worried for the “apes” taking out loans and dumping their life savings
I'm happy you made it out!
The absolute gall to use the phrase “wife changing money” for the third or fourth time at around the hour 35 mark without explaining what it means and then beginning the next sentence with “sharp eared listeners may have heard me say ‘dividends’ in there”
And hiding the actual reveal of it to the last ten minutes of the video
Do you have a goldfish attention span/intelligence? Also that's your grievance with the video? The 'absolute gall' to say something that you just didn't understand? Are one of the said 'apes'?
Also the actual quote he said dividends and why it's hilarious that these idiots think those magic dividends will somehow fund their lives and family's lives for ages to come. Are you genuinely stupid? I'm surprised you made it an hour and a half in, my guess is you just clicked on that section of the video and just watched 2min then called it a day
@@SxTxferlife buddy, I have no grievance with this video, I’ve watched it like 4 times - Dan has gone on record saying he deliberately used before explaining a bunch of ape vocabulary with the express purpose of making you think you maybe just misheard. Following up another use of that technique with “sharp eared listeners might have heard me say ‘dividends’” is so brazen that I’m sure Dan was chuckling to himself when he wrote it, and I wanted to draw attention to it because I think it’s really clever and I haven’t heard anyone mention it
@@SxTxferlife dude the only person here who's mad is you. they're pointing out that it's a funny joke.
Structuring the entire essay just to make a "Chapter 11: Bankcuptcy" joke is an absolutely incredible flex
He stole that from jawsh's video about kais maleej
@@DEVOTIO33doubt he knows who that is. Who is that?
@@diskgrinderA guy talking about crypto games.
@@AlexaRobin21 Critically, to be clear before anyone loses thsir mind
JFC.
"I will be rich _after_ global financial collapse" is just such a patently absurd thing to believe in
I think the Qanon conspiracy still takes the cake for most absurd but honestly, the fact that I'm not overly confident in that statement says enough.
Right? It makes me think maybe these people don't even really know what money IS.
Jokes on you, I have a metric ton of bottle caps and I'm ready to become obscenely wealthy once the nukes drop... I'm doing it right.. aren't I?
@@BlindErephon It's a fancy cotton / linen mix with dead dudes on it, just like my sock.
It feels like a lot of this comes from the 2008 crisis. It felt apocalyptic especially to younger people at the time and the ones fucked in the end weren't the banks or the investors, but ordinary people. So the mentally now is "when the next crisis happens, I want to be in and not out".
I've rewatched this video several times now, and I'm still struck by the casual cruelty of "wife-changing money"
i think about that phrase a lot too
@@BARMN89 I've come to this video back a lot and there are a few sentences and situations I'm just completely baffled could manifest itself in the real world I'm inhabiting
@@vau_st its wild too when you consider incel culture is convinced women do this exact same thing for the same reasons? That women only use men for their money. To think they would be self selecting "yes, i want to validate this negative view of women" is wild
@@BARMN89 Remember the cross-section of eugenics and biological essentialism in incel cultures. They don't consider that not validating that stereotype is even an option, it's a fact of the universe: women bad.
I'm still wondering if the meaning is "I will get a different wife" or "my wife's attitude will change" because I can't tell which is worse.
Attitude sounds better at first until you realize it's about a gambling addiction / sunk cost fallacy cult.
"Apes are shadow boxing the random noise of the stock market -- and losing" is the best summary of the past 3 years that I have ever heard.
I think that's my favorite Folding Ideas line ever, and I've been around awhile.
Damn, the random noise of the stock market got hands.
@@mac4974my favorite is "alien goth furry oc" from the wall review review
@@Russian_engineer_bmstu From the same video is probably the line that I quote the most with my friends: "Cringe. There's no other word for it. this makes me cringe. It's embarrassing."
@@Russian_engineer_bmstu that's "steam punk edgelord furry ocs" and "alien big titty goth girlfriend" - two different quotes from that video smashed together
"The US government still has an obligation to compensate the redditors for their losses," is such an absolutely hilarious sentence out-of-context.
It's equally ridiculous in context too
It's also hilarious in context
Pelosi: "My entire portfolio is in shambles. I'm broke!"
McConnell: "Well that may be but we have a duty to make these Apes whole!"
And that's how Republicans and Democrats came together to beknight the Apes as lords of our new benevolent economy, children.
Haha, I was gonna say, pretty hilarious in context, too.@@igormaka
The US government WILL submit to the demands of redditors
Lmao
The phrase "wife changing money" is costing me years off of my life. Everything is monetizable and transactional to these people. Nothing is real.
It seems like they're talking about the money they'd need to divorce their current wife, then attract and marry a trophy wife. These are two acts that are individually normal in our current society, which either makes the MOASS folks less bad or society's relationship to traditional marriage worse, depending on your perspective.
And here I thought I misheard, holy crap.
@@JJ-qo7th Same. It took me until it was in text on the screen for me to realise "No, they really are saying that."
Wait I thought they meant wife changing as in "my wife will change their mind about my investments being stupid once I get rich". Are they referring to actually divorcing their wives and finding someone else?
Urban dictionary seems to agree with me.
I can't believe Dan made a 2.5 hour documentary just so his Vegas trip could be tax deductible.
He's gaming the system.
@@rabidfirefox8914truly, the IRS lost its fight with gamers
Just as wild as that time he made a nearly 2 hour documentary to advertise his modern mario houses.
Based Dan. Extremely based. He's gonna make it.
@@edgarallenhoe3518 dont forget he also made a 75 minute "documentary" that turns out to just be an ad for his hit book Stoicism for Pussies
I really like the "aiming for 31 in blackjack" comparison at the end. Knowing that to get that number, youd already have to be at or over 21, and still asking the dealer for more. And when the other players at the table see your hand, they all realize, "this person doesn't know the rules of this game."
Theoretically you could get to 31 by being at 20 and then getting an ace
@@idontcare6736 Nope, because if you're at 20 and you get an ace, it'd count as 1 point. Which would still land you at blackjack.
@@librenarraty1964 when people say blackjack I always think of Uno Blackjack.
My understanding of BlackJack is that you get 21 or the closest number to it that's below at the table -- any if you go OVER, that's a bust and the dealer takes your cards.
@@phastinemoon You'd be correct, that's why you almost never hit on anything over 15 because your odds of busting increases exponentially (depending on previous draws and how many decks are in play of course, but I digress). The metaphor works great because if you're trying to get a 31 in Blackjack, it means that you're an idiot who tossed away a perfectly good win for a vague 'more' that ends in you losing due to not understanding how the game actually works.
"I don't believe those government snakes, they are corrupt and don't play by the rules" and "The US government will play by these exact rules and give us billions of dollars" are fascinating beliefs to coexist in someone's head.
Massive sovereign citizen similarities in those beliefs
Video game exploit “well they gotta just hand me the keys to the castle now, no way around it” style thinking
@@pobbityboppity1110 I remember reading a story about "GM Island" in World of Warcraft(?), where the story was that if you managed to find a way over there you'd be crowned an honorary GM. Instead of, you know, suspending or banning you on the spot for hacking or otherwise exploiting to get to where you aren't supposed to be.
Like imagine sneaking backstage at a concert and the band just goes "Well, I guess you're a new member now."
@@Shadewaltz Wasn't the "sneak into the backstage at a concert; gets to play with the rest of the band" a common plot point in 80's and 90's cartoons and sitcoms? Heck! That's pretty much the climax in A Goofy Movie.
In other words; they engage with the world using cartoon logic.
Our former friend who we lost because he went HARD in the paint for conspiracy thinking would often say "I can hold two ideas in my head at once" with an imperious air that implied that our brains were somehow weaker for being "incapable" of ignoring cognitive dissonance. Not only are those two ideas contradictory, but many of them seem oddly proud of that.
That gamer section was so sad. I cannot stress this enough: Video games are DESIGNED to let you win (regardless of how difficult that win was). Real life? Not at all.
Even worse - there’s a specific goal in games that definitely MEANS winning.
Life doesn’t really have an END, much less a WINNING END (in the sense of how life as a collective experience, doesn’t have an end - even as individuals die, more individuals are born, etc)
@@phastinemoon I mean, yes, but it could be argued that Jeff Bezos has won capitalism in a very real sense. He has managed to set up a system where he can essentially levy taxes on other party's transactions. A huge part of the retail industry is basically paying rent to him which is absolutely insane.
THIS! So much this.
@@CC3GROUNDZERO yes, he 'won' a single arbitrary system which grants him a cheat code to many other systems (money), but in the end, he still has a good several decades to figure out if that was enough. Just knowing the fact he's a billionare is going to tell me that it's probably not enough.
It's a bit semantic but rather than designed to "let" you win, I'd say that they're designed to be winnable. Or even if there's no "win" there's a goal that can be completed by at least someone, given enough skill. And ofc as you said, this does not exist in real life
Y’know, I think the saddest thing about this whole mess is that these people don’t understand that even if they were 100% right (which they’re not), even if every single element fell into place just like they want, that the monied interests wouldn’t just play along. If something like the MOASS were to happen, they would freeze the markets, legislation would occur, the courts would go to work, and the status quo would be maintained. Capital doesn’t fight fair.
That is the most hilarious part to me, that these people think the US government would write them a check for 50 trillion dollars, and that somehow that money would be worth something afterwards
@@kxv210 Keep telling yourself that.
@@kxv210dude you've been in the comments for five MONTHS. take some time off, even if you are a troll.
@@kxv210capitalism is the problem, the solution isn't funneling more money into the hands of capital.
@@kxv210even if youre right, which you arent, they would not give you the money. at best they would legislate to prevent any wealth transfer and at worst you and anyone else trying to recruit more shmucks would be imprisoned for market manipulation
The superstonks subreddit tried to "debunk" this video and it was just a list of really unconvincing character assassination attempts against Dan and pedantry about specific word definitions, there was no attempt to address the core of any points or arguements that were raised in this video.
@@kxv210The loudest echo in the chamber, get a life man
@@KrankuSama It's either a bot, or TRUE BELIEVER. Same level of thinking however.
@@KrankuSama I think he really, desperately needs the attention he gets from these replies. My guess is that the people in his life largely stopped talking to him when he fell down the ape rabbit hole.
@@kxv210 WW2 is one of the top wars of all time, doesn't mean it was a good thing
@@kxv210 I am once again asking if you have anyone in your life, anyone at all, who you can talk to? Like I'm actually scared you've gotten so sucked into the cult you've isolated yourself and you don't have any positive real world influences to keep you grounded.
I hope there's someone out there who is worried about you and will eventually try and get you in touch with like, a cult victim support group, because I genuinely think you might need it.
Dan seems to run on a pretty much exactly 3 way split between, "hey look at this interesting sociological trend", "I really genuinely want to help financially venerable people avoid scams" and "Bullying grifters is enormously fun".
and i love the ride that balance creates ^^
I'm cheerfully enjoying this mixture
While I enjoy his recent stuffs, I do wish he make movie analysis again. It's been a while. Last one was 2 years ago.
The finance-bro comedy skits are hilarious!
@@bota6575same honestly. Part of me kinda hopes that he'll make a video on AI art or something that way he can talk about media stuff and tech hype stuff at the same time.
Honestly, the funniest thing about these financial conspiracies is that they assume that once their apocalyptic vision starts coming true that governments wouldn’t just pass some emergency resolution saying “no, fuck you the companies win”
Like, they looked at 2008 and think “oh yeah, we’ll get ‘em next time”
To the extent that the entire global economy would be devastated and millions would suffer and die. That's what they expect to happen. That the entirely of worldwide finance is going to crash and burn, and only they will come out on top. They believe that's what'll happen and no one will step in and stop it. Why? Because that's what they consider to be "fair." They get to rule the world for investing in a company that sells video games.
Imagine having that view of the world.
@@brettpgh3312 And imagine, that not only that, not only do they get their crash, but more to the point that they expect people to call them new kings of The White Rome (because come on, it isn't a reach), and kiss their stock certificate...
...In spite of the fact that the very backing institutions that would have given that stock any value would have vanished in the ensuing chaos.
Yes, they think because we saw what they did the first time (buy button) they can't do it again.
@@brettpgh3312 they sound like severely narcissistic monsters who don’t value lives...
"you win this round, Wall Street! But we will win the war!!"
I once had a student who insisted he had a better system to do math than algebra, calculus and trig. His “system” completely misunderstood how numbers fundamentally worked. He made up his own terms for concepts that didn’t exist and missed how numbers connected to reality. His entire “system” became a justification for why he was actually right when he just didn’t get math, and any attempt to explain to him why he was wrong was instantly met with a shutdown of the conversation.
This is that but stonks.
I don’t know if this would be more wild if you’re talking about a high schooler or a college student
That friend? Terrence Howard.
@@auzpayeur8229 i assumed college due to calculus
@@kakroom3407 yeah but that means this guy got into a *college level math class* and was *still* like this
@@kakroom3407eh, my high school had calculus as an option. Mostly seniors who intended to go into computer science in college
"I work for the company and I can tell you" bro being an Amazon delivery driver doesn't make you an expert on their stock 😂😂
That one infuriated me: 1. Because what he's saying is pure nonsense to such a degree that I don't think he understands even super basic finance stuff, and 2. I work security for Amazon and I can tell you that every single person who works there is in the running for dumbest motherfucker on the planet.
Im a data scientist at publicly traded companies and the stock is a total mystery to me. The number of people with actual inside information that can affect the stock beyond a 48 hour period can literally be counted on one hand.
@@fredsmith3117 Yup. No additional comment, just... yup.
I'm kinda stealing this from a Mitch Hedberg joke but it's like saying "I know everything there is to know about cow farming, I cooked hamburgers for years"
@@emptiester
This is it. If you did have insider information, you would be legally banned from discussing it.
"WE will have infinite money" and "you can't save everyone from a 9-5 job" are really perplexing thoughts to have in the same sentence as "we will collapse the world economy."
"We" in this case doesn't mean the proletariat.
It means "we the speculators." (Of Crypto, NFTs or third thing)
They expect the masses to suffer while they will ascend into Yacht Heaven.
It makes sense when you remember that neoliberal, corporate capitalism is just a _given_ to these people. The core assumptions of the system are not questioned at all. That’s what makes this so sad.
It's strangely befitting of a cult mentality
@@Arrakiz666 I mean that's the distinction between them and actual revolutionaries, they don't want to fix the rigged system, they just want to win.
Turns out they'd just as greedy as the corporations and governments they hate, given the chance.
The whole "the hedgies picked a fight with gamers but we know what it's like to grind for a boss fight so we're gonna come out on top actually" thing makes me think of the sort of "ummmmm I watch Sherlock, I know how to hide a dead body, say your frickin prayers" posts that you used to see on Tumblr circa 2012, which is very funny to me because guaranteed apes would call those kinds of posts cringe (at best)
"We have been trained for years by an industry that perfected the art of making us feel special and capable! Fear us!"
literally made the exact same connection to the sherlock/supernatural tumblr fandom when i hit that part of the video. insular conspiratorial online communities will always converge on the same apotheosis of cringe.
At least the Sherlock fans didn't gamble their life savings away on smoke.
At least I hope they didn't .
There's an echo of GamerGate which runs through all the delusional Ape rhetoric about the establishment "picking fights with gamers." The rabbit hole goes deep on this.
They targeted gamers.
*_Gamers._*
Something that Dan is understating here is just how fucking out of hand these people got over this. The guy asking the gamestop employee about the bed bath merger, Kais Maalej, aggressively trespassed, doxxed, and stalked his way into tons of extremely disturbing situations, including impersonating Ryan Cohen in a call to his family's OBGYN to sus out the due date of his unborn child.
@@kxv210my brother in Christ can you at least admit that Kais' behavior on a personal level is fucking inexcusable. Forget the stocks for a second. He tried to impersonate someone to get information about his wife's pregnancy.
Edit: lol, dude deleted his reply here to spread his nonsense in other comment chains. Coward.
@@aethertag1530 No behavior is truly inexcusable when salvation is on the line. Kxv is frankly the truest believer I’d seen in all of my life.
I mean, he _is_ insane. But he definitely is a true believer.
Wtf did I just read
For context, he did this because Ryan Cohen tweeted a "The last time people were excited to see me" meme with a photo of an ultrasound. Kais interpreted this as a hint that the GME-BBBY merger would happen on the DOB of Cohen's kid, hence the call.
@@TerminatorHIX wtf did I just read x2
The cybertruck line has aged like the finest wine
funny how many cybertruck owners don't realize you need to use alchol or gasoline to clean it and have rusted the cybertruck. car washes can also brick it
At first I assumed that wife-changing money was me mishearing something, then Dan having a funny pronounciation. When I finally saw that "wife-changing money" was a term they actually used I just felt an emptiness inside me and deep secondhand embarassment.
Why would they say this? I just don't get it
@@BlancheNeigefandan explains it a bit. They lie and financially endanger their partners so reasonably their partners probably ask reasonable questions like how are you gonna pay for all of theese shares or the real life stuff you cant afford cause all your money is in gme. So they are resentful that their partners "dont believe in them." So they fantasize about being rich enough to attract a gold digger that doesnt ask questions.
@@BlancheNeigefan because when they become gorillianaires they can afford to get rid of the average wife they hate and get a model trophy wife. Completely delusional and narcissistic
Fwiw I didn't even realize he was saying it before the reveal until my second watch
@BlancheNeigefan because there is at least some overlap/intersection with incel culture. The idea here is that whatever kind of partner you currently have, you could have had a better one had you had more money. Ergo, when you get that more money you can, and will, "upgrade".
I like how Keith Gill's videos just show this soft-spoken, educated, respectful guy, who just agreed that a single stock was undervalued. Just the most agreeable, sensible person in the entire video, and yet these absolute lunatics think he's their cult leader.
Failing upward i guess 😅
@@SammaS423I don’t think being worshipped by lunatics disconnected from reality counts as “upwards”. And I think Keith would agree given how he handled that.
Real-life Life of Brian shit
The guy gave a pretty convincing and respectable speech in front of Congress, those damn dirty apes didn’t deserve him and frankly are slandering him by association lol
I must be so *strange* to find yourself in that position; where a load of unstable people are picking apart everything you say for clues.
As Dan said in his NFT vid. Despite what they claim, they don't care about "the little guy" under the boot, they're just upset they aren't wearing it
Day one of 'owning the economy' they would buy slaves and pay them nothing
I mean, let's be honest... you guys wanted everyone fired and forced to stay home for years. Until whenever Fauci said it was okay to work and earn a living again to feed your family. The left has 0 principles they stand by when the chips are down
Everyone is just upset they aren't wearing it. Some just hide it better than others...
@@esmeecampbell7396Speak for yourself. Plenty of us dream of a world with no boots at all
@@esmeecampbell7396plenty of people do not want to be the ones wearing the boot, but would rather the boot didn't exist. If you think everyone wants to wear the boot, that says more about you.
As someone with autism myself, the post from the autistic person is particularly painful for me. It's like, 'No, we do not have super powers. We can be fooled just as easily as allistic people if we let our egos cloud our common sense. You are being foolish.'
They literally described the opposite of autism.
As someone who is also on the spectrum, part of me really doubts the person who made that post is actually autistic; they have clearly shown themselves to have a very poor understanding of what ASD even is and the effects it has on people. Anyone with any familiarity with the autistic experience would know that's not how it works. It's either they are intentionally lying about ASD, or they're pretending to have a mental disorder they don't even understand (or deluded themselves into thinking they have it when they don't).
@@Pickle_Candy exactly. the idea that people who have a communication disability would love speaking in codes is absolutely wild to me.
This 100%. I like to watch Dan Olson’s stuff in the background but that quote is so unsettling and cringy that I have to skip through it. I’m on the spectrum too; we don’t get a +50 to our stenography skill. Instead we get a -50 to our social skills and view the basic social comprehension we manage to occasionally do like it’s DaVinci Code levels of complex subtleties.
@@BestBetterBestest Right? Like, if you are not 100% direct with me about the message you are trying to get across, chances are I will miss it. I've had to train myself to catch a lot of the subtleties and nuisances of social interactions, and even then there's so much I still don't understand and what little I do understand I'm constantly doubting myself on.
To see someone take my disability and to essentially say that it actually gives them an heightened ability to read between the lines is frankly rather insulting. Nothing in this video pissed me off more than that one comment.
dude listening to quotes from these ape guys and learning about their weird nonsense feels like getting exposited to by a metal gear solid villain that has no idea what the grand scheme actually is. like i'm on my knees handcuffed, i've been captured after infiltrating their base trying to figure out what the hell MOASS is and then the boss gives me a thirty minute cutscene telling me the history of bed bath and beyond complete with live acted fmvs and slideshows of arrows going up and down, only to then be told that all stocks in the world are being controlled by semi-sentient AIs and that war must be declared on the concept of money by buying the worst shares imaginable.
Yeah, then years later you figure out the DARPA chief was a guy in disguise, and not that black guy cause they accidently killed him earlier.
Don't show this to Hideo Kojima... because he'll be SO mad he doesn't have the rights to Metal Gear and can't have Snake go through an adventure just like this
@@goranisacson2502 "You shouldve done your Due Diligence, Snake. Now... BEHOLD! THE STOCKS OF THE PATRIOTS! YOUR SHARES ARE NO LONGER YOUR OWN!" -Liquid Apesalot, Metal Gear Solid 7 The Shares of Liberty
I will mail this directly to kojima's house, he will be so cheesed that he missed this opportunity.
Perhaps on Shadow MOASS Island?
@DizzyIM -- You summed this bizarre experience up pretty well.
I love how their plan is literally:
Step 1: Buy GME
Step 2: Wait
Step 3: Become a god-king in the new, enlightened United States that emerges from the ashes of a total economic collapse
Yeah, and if that doesnt work, buy bitcoin. Different story, same idea.
Poor stock managment can result in total collapse of economy
Step 1: Cover yourself in poor stock
Step 2: Wait for it to total collapse of economy
It's the American dream.. becoming rich without putting any work or effort into it.
It is 2023 and the "Step 3: ??? , Step 4: PROFIT" meme has been thoroughly driven to the ground, but it somehow explains perfectly what these people expect to happen.
Reminds you of something?
I like to think the APES got bored at some point and moved to a different scheme.
....wait a minute...
They.... they do know that infinite risk = guaranteed loss right? Like, mathematically?
They really do not seem to understand that.
I don't think applied calculus was part of their education.
my understanding is they're using an abbreviated version, the full one being ''*their* infinite risk is *our* infinite reward''
oooh I didn't think of that. either way I'd say we've both put far more critical thought into this than any of them lol @@ThatGirlOrSomething
@@Philitron128 the irony 😂😂😂
I still think my favorite part about this MOASS conspiracy is that, even if they managed to get the share price to hundreds of millions of dollars, and even if they were able to get all of the money they were then theoretically owed without legal consequences, the value of the money they'd receive would be functionally worthless due to the apocalyptic amount of inflation necessary to produce that amount of money. So not only is the likelihood of the outcome they look for basically impossible, but if it did somehow work they'd still be screwed.
They'd still collapse the economy though. They just wouldn't be the philosopher kings of the new world order
I think some of them were, indeed, short-sighted, but a good deal of the reasoning was less about gain, but the opposite, about sacrifice. Like people who believe the only way to revolution is to kill and die your way out of the status quo, these shills probably DEEPLY believe their literal economial death is worth destroying the capital status.
Still short-sighted, though. I can't say I don't get it, because I do (I am more or less punkish and maybe anarchist in SOME aspects), but the status quo is hard to break even in the event of wars because it requires a lot of forethought and planning to effectively patch the holes. And we DO NOT have anything better than monarchies, communism, capitalism or anarchism. We only have human systems with human flaws that will always fail.
“The value of the money is functionally worthless” it’s almost as if the concept of an amount of stuff doesn’t have an objective worth outside of “our wet little meat brains know what 1 and 10 and 0 are intuitively, and unlike other animals who just know how to use math tangibly to do animal stuff, we’re sapient and can abstract math into theory and experiment.
The human experience is a species that can compose formulas that express the ways reality builds itself got so absolutely fucked up over “one” “one what” “yes”
@@LucifersfursonaHave you ever even taken an economics class?
@@Hypogean7 I mean that's basically just a very crude version of the subjective theory of value
"I'm smarter than everyone else and therefore can game the system" and "Everyone already agrees with me on this because this stuff is just common sense" is a WILD pair of things to believe simultaneously.
The cultic milieu is fully submerged in cognitive dissonance 💀
This comment has just singlehandedly changed the way I think about conspiracy theories, so congrats for that
somehow "I'm actually dumb as rocks and need someone to explain to me what i should be doing with my money next" seems to be mixed in there as well ...
It falls perfectly in line with the conspiratorial mindset of "if you can't find any proof to support the theory, that's proof that it's actually true."
Tbf, usually it's more along the lines of "Everyone *reasonable* already agrees with me on this because it's common sense", which lets them readily discard anyone who doesn't agree as unimportant.
For anyone having trouble understanding a short sale, here is an example:
You borrow 100 shares of a stock from somebody. You must give 100 shares back to them in one month. You immediately sell their stock at the current market price of $10 per share. Now you have $1,000.
For the next month, the price of the stock goes down. At the end of the month, the stock is only worth $3. You owe that guy the 100 shares you borrowed, so you buy 100 shares at the current market value of $3 each. You spend $300 and you give that guy his 100 shares back. You profited $700 due to the stock price decreasing.
I've gone my whole life not understanding what short selling is and just resigned to thinking of it as "shady thing stock people do". This is the explanation I needed.
Thank you. Im- as the apes say- incredibly fucking smooth brained
Good explanation. What would make it complete is to explain why the owner of the stock would lend it out. In your example, the lender lost $700 in stock value. Because the lender did not possess the shares, they could not sell while the shares were losing value. Because of this risk of loss, the lender will demand to be paid fees to compensate. In the movie "The Big Short," these fees are why Burry and all the other short sellers are panicking at the climax of the movie. The fees are eating away at their portfolios, and there is no sign that any of the securities they are shorting will drop in price in time before they go broke.
also explains why those companies collapsed during the GME short. if they borrowed millions of shares at 5 bucks a pop, but then had to pay back 500 bucks per share, they'd immediately collapse. shorts seem like the surest thing if you know of the impending doom of a company, but if something like GME happens, you can lose infinite money. it's insane.
@@JohnnyAdroitAs an addition to this, one of the main reasons why they lend their stock is that the holder has a longer timeframe.
If you're holding an investment for 5 years, how do you make money in the short term? You could wait and just receive dividends (though many companies do not give dividends and instead spend that money growing).
But what if someone comes by and offers you money to borrow your stock for a month? You were holding for 5 years, so you aren't affected by a small monthly dip. Though there is an issue if the stock plummets, that is pretty unlikely.
I'm so grateful for this. I've been questioning my own sanity for the past 3 years witnessing my husband fall down this rabbit hole. I appreciate that the documentary mentions the gambling aspects and how it affects the ape's family and spouses. 😔
I'm sorry you have to go through something like that. I hope he is or has gotten help for his addiction or at least gotten out of the conspiracy, and if not that you leave him for your safety.
Im so sorry, I hope you and or your husband find some help.
I hope he can find a way out. This is just a selfmade señffulfilling tragedy based on primal fears
@@maskingtables wtf are you talking about? 😂 This is an INVESTMENT based on data found in the balance sheet.
I am so sorry. If he believes the 'wife changing money' part you should at least consider what could happen in your relationship. Please take care of yourself. Even if he's a nice man, nothing is worth your mental health and self esteem
No matter how many times I watch, that clip of "we tried to tell them over dinner... WHATEVER" still feels right out of a movie. It's such an exposed psyche moment 😭
The little chuckle afterwards when he realizes all the face paint in the world can't hide that level of mask slip
Timestamp?
1:48:35 is the timestamp
Even if the apes were right about literally everything and the MOASS arrived, their only reward would be a knife in the back as the rules magically changed in front of them, and there would be nothing they could do to stop it. For all of their baking and theorycrafting, they've already agreed to play someone else's game on someone else's field.
Even if they truly have figured out how to hack the system, they're still forgetting the most important truth: the house always wins.
For me, the amazing thing is the conclusion that if a hypothetical collapse of the economy were to happen, old economy value would have any kind of value in the new economy, and they would get any kind of "compensation" for it
@@wydx120some apes realize this and have crafted different theories around how the new economy would be structured around GME ownership. Which is hilarious to think about
(Drums and trumpet fanfare)
How lucky can one guy be (trumpets)
I kissed her and she kissed me (trumpets)
Like the fella once said
"Ain't that a kick in the head?"
(Trumpets)
@@kxv210Bro you guys are just funny. Its as simple as that
They fail to realize that at the end of the day, systems are controlled by people and the banker is not an NPC that will let you use an infinite money exploit in front of him. Like if they are right and don't get disappeared by some mercenaries and they also don't get told "oh, you found a hedge fund was doing something illegal, guess we shut them down and then gamestop goes bankrupt because their value was all smoke" by a judge then their infinite money will end up being rejected by basically all of society, as the wealthy don't want to be beaten at their own game and everyone else won't suddenly bow down to a bunch of self-obsessed redditors who think they should rule the world. Like even if they managed to take control of the world economy, they don't have the social control to make everyone play along.
The congressional hearing bit at 1:10:11 is chilling. My first thought was 'Huh, Keith is referencing ape terminology and memes, even under oath before congress. Maybe he really was part of this movement.'
Then I realized I had it backwards. He wasn't referencing ape stuff, every word of this testimony was picked apart and adopted by the apes afterwards. This one brief clip spawned multiple in-jokes/shibboleths/signifiers that still persist today, this testimony is something of a holy scripture.
I think he made the right choice to disappear from the internet. Being a cult leader comes with severe occupational hazards.
You said "being a cult leader comes with severe occupational hazards" and now I kind of want to see OSHA guidelines for being a cult leader.
"What YOU need to know to run your cult safely!"
This isn't entirely the case. I was an onlooker to these communities at the time (luckily I had no spare money to invest or I would probably have lost it) and I can say phrases like "I like the stock" were already existing memes in the community. He was aware of the audience he had and played to them quite well.
Being a _reluctant_ cult leader gets you thrown into the volcano.
@@tevanchinsangaram6467 "I like the stock" is also an extremely generic phrase and taking it as "ape terminology" is talking about conspiracies a little bit too ironically.
I almost never hear that phrase outside of ape circles, where it has become a mantra.
This whole affair is basically that moment from Glass Onion
Apes: "So dumb, it's brilliant!"
Dan: "NO! It's just dumb!"
@@kxv210Cohen has decreased losses by slashing employee benefits and closing stores. That can't carry on forever. Their total sales are lower now than at their peak fifteen years ago when the share price was lower than what it is today. Most people buy games online, either digitally or through online retailers, and the vast majority of people purchase gaming peripherals from places like Amazon. Cohen dumped millions into revitalization efforts, but those plans failed. He brought in a team of experts to right the ship, all of whom are gone now. The trend over the last three years has been down, and it's clear to everyone who isn't drenched in Ape nonsense that, while GameStop may manage to carry on, it is drastically overvalued. MOASS is a fantasy. Anyone who bought in at triple digits is just fucked, and frankly so is anyone who bought in over $20. You aren't who this documentary is for, you're in much too deep for that, but you are absolutely who it's about.
@@kxv210 :>
~Hush~
@@kxv210hope you manage to travel to the parallel dimension where moass will happen
@@kxv210 the validity of DRS as a way of registering shares is probably the least contentious thing about what APES advocate.
@@kevinstephenson3531 hey look another bot deflecting with nothing of substance yet again 😂 75+ million DRSed shares buddy cope and seethe
My personal favorite part of their fundamental thesis is: "the big bad system that is apparently ignoring every rule in the book (to a cartoonish degree) to screw over 'the little guy' will just give up and give us every single dollar in the entire global economy". And why? Because "thats just how it works"
Well, yeah, those people are in fact fae creatures and must comply when bested at their game! They also must give you their gold if you answer their riddles and/or find it at the end of the rainbow.
This is sarcasm.
@@Veelofarthis is a good comment
I should go look up if Apes have an answer to this, actually I probably shouldn't. But I am curious, it's been years, surely someone has asked 'so what stops the government from just killing us if it gets that far?' That person was probably banned 12 seconds later for FUD, but I'm devilishly curious to know what the answer would be.
Brain dead take. Surprising from a bear. The buy button was turned off because the retail investor found an exploit to their corrupt scheme of illegal naked short selling. If you DRS GME and refuse to sell, then those short sellers no longer can use those shares to close out their positions. And according to the quarterly report, we’re already 75+ million shares on the way there.
@@kxv210two companies paused buying due to liquidity issues, but people could absolutely still buy GME from literally anywhere else. The 'turned off the buy button' narrative only works if you pretend that they paused buying of GME across the entire stock market, which is just ludicrous. Apes were simply inexperienced and/or incompetent enough to be stopped by one single hurdle.
And Apes have only managed to DRS maybe a quarter of all shares, so.....
I worked at GameStop and had guys coming in asking about a merger with bed bath and beyond. Crazy to finally have context for that conversation
lowkey scary to have to deal with these cult members in person lmao
@@JM_-ix7yh haha yeah I hear that. What you have to understand is that conspiracy theorists are just people who believe a crackpot scheme. They wanted it to be true so they came into the store to get evidence. I doubt I convinced them, but who knows?
@@Blakbox92 you know? That's a great question lmfao
Honestly, that was one of the worse jobs I've ever had, not in small part because of people like that. It's not hard to imagine that they had an argument with someone about their 'investment' and came to the store to get some reassurance. When I said "lol nope" to them I doubt it helped them feel better about their spending habits.
I just hope that I don't hear about Ape holdouts in 10 years talking about FUD and how there used to be a GameStop in this town.
@@Blakbox92obviously the ceo personally told the employees about the merger and to only tell the real info to the shareholders. The apes have cracked the code again!!
@@Blakbox92They’re not exactly in touch with reality
It's not a coincidence that Dan describes this movement in terms usually reserved for religious movements: e.g. "orthodoxy," "apocalyptic belief placed under cognitive strain." This reminds me of so many new religious movements yearning for a judgment day/apocalypse/armageddon.
Yeap, i see a reflection of the cult craze of the 1950-80's that stemmed from WWII and the various other wars that stressed out and caused mass underlying panic in America that caused people to flock to insane cults and accept their openly criminal and disgusting practices. Now in 2020-23, following the financial crash in 2008, the accelerating inflation of money at a pace never seen before, the entirely stagnant wages compared to pricing of healthcare, rent and food, free internet inundating people with inflammatory articles and exposing people to charismatic grifters with amoral ideologies; a new wave of panic and stress has swept over America, compounded further by the suprise attack of Covid, which has lead to 'finance cults' like NFT bros, Crypto Enthusiasts and Meme Stock Apes, which although are not physically violent like old style cults, still exploits followers and lead them to harm, now by financial and social isolation and loss.
Dan has a background in theology which shows up in a lot of his work which I think is really cool (he confirms this in his interview with Adam Connover if you need a source on that)
its because its an actual almost one to one example of a doomsday cult, longing for the day shorts are squeezed and they can be the emperors of earth, not too dissimilar really to heavens gate or jonestown
Damn, I didn't expect to find you here. Love your videos
I mean, it literally has become a financial apocalypse cult.
This deprogrammed me. You are my savior Dan
Good on you for getting out.
Happy for you dude
watch the savior talk, you just got out
Be grateful for Dan, I'm certainly happy for you, but no more heroes for a while
You also did the work of listening, looking at yourself, and making the conscious decision to change.
Don’t sell yourself short (pun intended)
The part where he asks the gamestop employee if he knows who Ryan Cohen only for the employee to say no and he becomes incredulous that he doesn't know who he is just because he is working at gamestop is terminally online syndrome.
Somehow in this ocean of nonsense and cringe, that guy stands tall as the absolute most pathetic part of it.
also proof he's never worked a retail job
@@trouty606I was genuinely scared he might try to hurt that poor employee.
Because 15 year old minimum wage employees are privy to all their employer's secrets and will be happy to tell you about any global financial conspiracies they are involved in.
@@lauriepenner350 ngl, if I was a 15 year old min wage employee and I actually did know about a global conspiracy, I 100% would off hand mention it to customers as if everyone knew it and refuse to elaborate. I think that'd be funny.
Watching three adults hear "more than majority voting" and talk themselves into "more than issued voting" is one of the most distressing things I've ever seen, just sheer mental desperation to not have wasted their time and money to such a degree that they'll convince themselves that something they heard literally seconds ago was actually something else.
I want to make sure I'm understanding, they basically heard "more than 50% voting shares present for this vote" and thought/dreamed it meant "there's more than all possible voting shares present"?
@@SashaMinkh Not only that, but a few seconds later they had convinced themselves that they had LITERALLY heard the words "more than issued voting".
That one hurt. "Sweet summer children, WHERE DID YOU THINK THE WORD MAJORITY CAME FROM IN THIS CONVERSATION IF YOU DON'T BELIEVE IT WAS THE WORD USED!!!"
Imagine, being so mentally NPC that even your magical thinking is about mundane and boring things, which can lead to contrived and boring "end of the world as we know it" result. World of Bobby only he dreams about stonks.
Not as bad as some of the other stuff, like the recent BBBY shares being cancelled post-bankruptcy has apes like "It says share CANCELLATION, not DELETION, that's different somehow!"
I feel so bad for that poor employee working at the GameStop and being questioned by the guy who's trying to convince him that they're going to merge with Bed, Bath & Beyond. He has such a voice of "I do not get paid enough to deal with this crap."
can confirm that as a current retail employee that that tone of voice is the one i give to customers who cant just get the fucking hint and keep trying to give advice to improve the store like my minimum wage paid ass has anything to do with how the place is run
If you think that’s bad, Kais Maalej (the guy in the video) has a whole channel full of videos of him standing outside random Bed Bath stores spouting nonsense, harassing employees. He even once tried to break into a Bed Bath warehouse to see if they still had stock coming in. He is genuinely mentally ill
The second hand embarrassment is too much, I can’t rewatch shit like that. Once was more than enough
For public facing positions like that, that's probably what he's been specifically told to do. I'm a volunteer at a Zoology Museum and if a creationist starts talking their talk we are supposed to just smile and nod.
I enjoy his half hearted attempt to speak reason to him. “How will that work because we sell video games and they sell bath stuff” 😂😂
I still feel really bad for the neuro typicals who have no idea what's going on because words don't mean anything.
Huh?
I don't get it.
@@stuflames4769 I'm pretty sure that's a hilarious joke, but I physically cannot stop myself from explaining it's because of the person saying "to an autist all words have meaning, every single one"
@@jamesnurgle6368 😜
When I got diagnosed with autism I instantly understood this video in it’s entirety
@@fart63you forgot to add that you understood this video in its entirety WITHOUT EVEN WATCHING IT! That's super important, because we all know that autism gives you superpowers. You become forspoken, clairvoyant, far seeing even. Although your autism can't make you fly because that would just be ridiculous... 😅
(/s for those who have trouble parsing these kinds of comments. I'm being very silly and unserious, outright stupid some people might say.)
The guys near the start bragging about their MMORPG grinding capabilities absolutely break my heart. These people have invested so much of their identity in video games, they honestly think that's how real life works, too: just keep plugging away at the same pointless task until you're inevitably rewarded. Nobody told them - or they refused to hear - that at its best, capitalism rewards *useful* work, and at its worst, it screws over the little guy. It's desperately sad.
Another commenter I read said something like "They forgot that games are designed to be winnable" that's really the point missed by these people. The stock market is a gamble, but it's not a game in the sense that there will be a designated winner, or that you can simply brute force your way to it. You can beat an MMO if given enough time, but even if you sink your entire net worth into stocks there's zero guarantee you'll make any profit on it.
Also, something I don't see pointed out often enough: do they think other people don't also grind away at things? Do they not think of football players spending hours in the gym and practice field, artists practicing character studies, writers churning out chapter after chapter... at all? And the interesting thing is all the other people are grinding away to *improve* - they do it to practice, to explore new things, and train their real-life skills. But grinding a game is by nature repetitive and not improving anything but a number on a screen.
If anything, video game players should be the *worst* group for grinding away at a real-life goal.
The grind concept goes back before video games. It was used most commonly in the ghetto.
@@trouty606That's literally not how MMOs work though. Beating an MMO is already a dubious concept as is but even given infinite time you're not going to beat the endgame using time alone. If you're simply worse than your opponents you lose whilst they win.
the sadder thing is, they keep bragging about how they keep grinding no matter what just for trivial gains. which is, you know, a behavior that a lot of games exploit for profit.
like you just admitted to have the mentality that Genshin Impact uses as their main source of revenue. don't brag about it too hard.
I grew up in the Rocky Mountain West, and there were these slightly off kilter people who would come to old gold rush towns from the 1800s with panning equipment, convinced they were going to find untold riches in places that had been mined dry 150 years ago. My own uncle borrowed heavily from family to support buying mining equipment, because he believed God had told him that he was going to find incredible wealth in the mountains. I thought of this a lot while watching these people justify buying massive amounts of meme stock long after the writing was on the wall.
I can understand them spinning elaborate conspiracy theories to save face for having spent stupid money on worthless stock. It’s when they keep buying more stock that flummoxes me
Right? Like, it would actually make more sense to grab your panning gear and go try the creek in your neighbor's back yard or something. If there was a working gold mine there and then there stopped being one, you KNOW they looked for more gold, and they had a literal gold mine to finance those efforts. At least if you throw a dart at a map and pan there, you're probably checking somewhere that hasn't been checked dozens of times before.
Now, if you're just kinda LARPing, if it's just a fun thing you like to do when you go hiking in the hills, great! That sounds like a lot of fun! You get to feel a connection to old-timey prospector dudes! I hope you grow a cool beard and wear suspenders too (if you want)! But if you're spending money you can't afford, yeah, that's sad.
Indeed, the "mother" in MOASS made me think of "motherlode", so I definitely had that thought, even if I have less of a direct connection to it.
Like the late, great Samuel "Mark Twain" Clemens said, "History doesn't repeat itself, but it sure does rhyme."
“Bro I play runescape.”
As a long time runescape player, that’s about all I needed to hear to know the kind of cringey, delusional, gluttons for punishment we’re dealing with here.
Truer words are seldom spoken.
I'm imagining a scenario where Citadel finds out that theyre up against RuneScape players and everybody in the office freaks out and starts sweating, frantically making calls
Tbh I read that as self depreciation rather than a brag.
@@breadguy325 Citadel is just the zezima bro
At least it was not a Eve Online player. (speaking as one who won Eve years ago, we be a crazy messed up bunch)
fun easter egg: at the start of Line Goes Up dan uses an analogy comparing the banks of the '08 crash to rotten trees so big that when they fell they'd take all their neighbors with them
at the start of this video, he is filming standing in front of a dead tree fallen over in an empty field lol
Ooh, good catch! Ive watched these like once a month since they came out and never noticed that, very clever!
My god…
Give Dan Olson an Oscar
2:27:06 "No one deserves to be exploited like this. No one deserves to get shaken down by grifters to the point that they have no other choice but to become grifters themselves and shake down everyone else around them. No one deserves to have their ego and security ground down to the point that there's no escape, no reason to step back and admit defeat, no reason to reflect."
Just leaving this out so it doesn't get lost in the noise. I would pay money to put this quote on a billboard.
Bit large for a billboard, maybe good for writing down and making a phone wallpaper. Reminding you each time you open it
Honestly, one of the things I really appreciate about this video is that he’s still empathetic to these extraordinarily frustrating people.
It would go down in history as the second most important billboard ever made.
@@wildfire9280 whats the first
It's the same logic as abusers being often people who suffered abuse themselves. It's important to remember to humanize these people not because they are innocent but because we shouldn't ignore the reality that they are also victims.
I was listening to this while doing chores and initially thought Dan was just saying “life changing money” in a weird way. No, turns out those folks were literally saying “wife changing money”
What do they even mean by wife changing money?
@@lighthouse6543Because their relationships with their wives become so strained after being caught spending all their money in this weird cult, they are basically saying that when MOASS finally 'hits' and they get rich, they will divorce them and 'change wives'.
@@lighthouse6543Enough money for the wife to forgive and admire them or enough to find a new wife
@@lighthouse6543I assume they'll marry someone better looking if they get really rich
@@lighthouse6543 I suppose they think that once they get their big bucks, they'll be able to trade in the old wife for a hot new gold digger wife
It's amazing how often these "movements" seem to always devolve from "I want to punish the fat cats that destroyed -my- *our* future" into "I can't wait to be the fat cat!". Whether it's crypto, NFTs or AI, it's the most common thread in all this.
This particular one was actually the other way around - it was started off by people well aware that it was about making money, then when Melvin Capital imploded it got dressed up as righteous vengeance against Wall Street with a side order of unimaginable wealth, both of which naturally got exaggerated further and further as the group think set in.
"Meet the new boss, same as the old boss." The overwhelming majority of revolutionary movements turn into little more than a changing of the guard, often with a significant accompanying downturn. It's the same shit that happened in russia in 1918, 1990, and 1999.
It's also funny to accuse the establishment of terrorism while (ineffectually) relishing the role of...being a terrorist.
All animals are equal but some are more equal
@@asteroidrules just posted a laughably gross but all too common oversimplification of history. It's not insightful; it's just vapid.
I feel like DFV is the most likeable in this story: has a sound theory that seems to go south in the worst way possible, sticks to his guns until the price goes sky-high for completely unrelated reasons, cashes out, leaves the community to raise his children. You have to respect that.
He comes off as a perfectly fine fellow throughout.
I also like the thicc one with glasses.
He left the community because he ran a pump and dump and if he kept running his mouth he'd come under scrutiny from law enforcement, nothing more.
@@dr.professor5229 you sound exactly like the cult members in the video; understanding one thing about markets and pigeon holing everything into it. what YOURE saying is libelous. YOURE the reason DFV cant be in the public sphere. YOU. not fucking law enforcement.
I respect the fact that he recongised that the community was getting out of control and decided to duck out early. He could have easily embraced it and become a grifter like Ryan Cohen did, like so many community members have.
Right around 1:02:00 just kills me every time. The dude says, emphatically, that the number of voting shareholders present at the meeting is "more than a majority [of actual shares]" *AND THEN REPEATS HIMSELF* yet everyone else on the call starts whipping themselves into a frenzy because they somehow interpret this as meaning the number of votes is greater than the outstanding share count.
Like??? what the fuck????? how is it even possible to come to that conclusion? it's not as if this is some retconning, you heard the guy telling you "more than majority" less than 6 seconds earlier and somehow it's already gone through 8 different iterations like a game of Telephone to end up with this garbled mess.
They clearly were waiting to hear that the number of votes was more than the number of outstanding shares and collectively none of them stopped to consider that the information they just received was anything other than that result. Truly astounding.
Doesn't the guy reading it out loud have the wrong intonation for "present"? It highlights the incompetence on display and adds to the confusion.
Yep it's called confirmation bias. A very nasty bias.
I thought I was losing my mind when he played that clip and they started freaking out about how it proved something. They were so cock-sure about how it proved there were more shares than there should be, that I actually doubted what I heard for a second.
Religion in motion.
"I'm not the messiah."
"Only the messiah would be so humble!"
One of them even asked if he said what he actually said because it wouldn't mean what they want, and the others reassured him that the speaker didn't say what he actually said so their conspiracy won.
You wanna know the biggest mistake the hedgies made? They messed with knitters. KNITTERS. The same people who will sit in a rocking chair for HOURS ON END looping FABRIC with NEEDLES just to watch a SCARF FOR A FRIEND get SLIGHTLY LONGER, only stopping to SIP TEA or occasionally GENTLY PET A CAT. WE WILL NEVER BACK DOWN!!!!!
😂
Hang this on my wall, I love it
Blue hair army MF3rs. FAFO !
You joke but the International Olympic Committee did mess with the knitters and it did go extremely badly for them. Don't mess with people with time on their hands and infinite patience!
My personal observation about knitting is that apparently involves a lot of math and all the people who do it suck at math and hate it and will always complain about it. That's probably not true in general but just in my personal experience and I find it funny because I'm really good at math and love it so those people are always like "you should try knitting!".
The cognitive dissonance required to think the system is rigged beyond repair against you but these companies are going to buy worthless stock from you for 420M is staggering.
Sheldon Wolin is being proven right lol
Cognitive dissonance is the discomfort that arises in someone as they become aware of holding conflicting beliefs. I'd be more accurate to say that they'd experience a lot of it if confronted, since cognitive dissonance is a step towards changing beliefs. Or maybe the sheer lack of awareness required not to experience it.
@@metarmaskI think the best term would be "dissonant spite."
As Dan points out, Wall Street is juuuuuust evil and selfish enough such that conspiracy theories and demonization toward them feels justified. The fantasy is only the extent to which Wall Street is being greedy and reckless, not being greedy in the first place. So the spite is real
Apes want to enforce the system as it was sold to them in the first place, the idealistic version of the stock market where an average Joe is investing, rather than having their investments gambled on by the rich and powerful. The dissonance comes in here: they want to spite Wall Street AFTER destroying the system. They believe in a fantasy system that's so rotten and corrupt it no longer functions like the promised or real versions, but at the same time they believe it will just default back to the promised version to pay the Apes back
That is the thing, the entire concept makes 0 sense to anyone who thought about it at all. Yet people are just so deep that they can't get out. Stocks are ownership in a company. If GME goes bankrupt, the shares disappear. Even if this was at all true, why wouldn't the Hedge Funds just, you know, try and kill the business until they need to declare bankruptcy?
To be fair, it's a pretty idealistic cognitive dissonance, to be able to take a fraction of the wealth of the elite for yourself. I can't blame them for wanting that, not when the inflation of salaries over the last 50 years for the average worker is barely scratching 15% and CEO's up to, like, 900% or something. I get it. It's how they want to get the wealth is absolutely bonkers.
"It feels like we're driving backwards really fast at a wall and just before we hit it, the secret level in ready player one is going to open up and let us pass by the entire race and win" oh god no, that is incredibly sad. I can't even make a joke. I just blurted "oh no" as soon as I heard it
These guys seriously need to touch grass
When was this?
@@simonoliver4751 damn it I always put timestamps, I don't know why I didn't this time... lemme try to find it
when dan was reading it out i remember thinking "this has to be parody, no way someone would really say this, its his investor character and this is a silly sentence" and then he put the comment on screen (2:30:47 btw) and i think i said "oh my god" out loud and covered my face from the second-hand embarrassment.
Blah blah blah 75+ million DRSed shares on GameStops balance sheet 😂😂😂😂
It's fascinating to me that Gill's theory ended up being completely wrong, through no fault of his own, but that his investment plan ended up being incredibly right, through no merit of his own either. His plans were disrupted twice by once-in-a-lifetime events and it ended up panning out well in the end. Incredible.
How exactly was his theory about GameStop being undervalued wrong? There's a difference between that being true, and GameStop now being overvalued. (I do get what you mean by the plan being right without his work, because the apes basically did the work, especially in pushing it to insane levels.)
@@luv4hutch His theory was basically GS is undervalued because GS always gets a revenue bump on console generations, and people are too pessimistic about physical media.
The pandemic put that theory to an end. Without the pandemic, it may have proven to be right or wrong. But in our reality, the pandemic ensured that there was no GS bump because of next-gen consoles. His theory about the future was wrong.
GS did in fact go up in price, but for *none* of the reasons he said it would. He got the right answer, but used the wrong reasoning.
Saying "he was wrong because COVID" is a mere technicality. His theory was actually pretty sound, especially because I personally prefer physical media, for example. And there was great reason to think there would be a bump, even WITH COVID, because the trend was very strong and reasonable. (How were we to know that corporate America didn't upgrade the supply chain for decades and just let it rot?) Especially because things that year were only as bad as they were because of Trump. A Hillary presidency would've been very different.
Let's also not forget that he only predicted a very modest bump, which did fit the true value, not the absurd runup, which he, like you said, had nothing to do with. Or how it's overvalued despite being roughly that same price due to a split-adjustment. So, I would basically say he was right overall, but that he of course got distorted to bejeezus and back by the apes. None of that is his fault.
Dan certainly has it right in saying that "fundamentals" and "market value" don't matter as much, as invariably correct, as people like to pretend. After all, you can have a very valid analysis saying Disney is overvalued, and an analysis just as valid saying it's undervalued. "Figures lie, liars figure," after all. @@GeneralBolas
@@luv4hutchI think you should reread the OP
supply chain issues were very, very, very well known before the pandemic, this wasn't some sort of open secret. It wasn't on the front page of reddit, but if you worked for a company that made anything, or were INVESTING in a company that made or sold anything, then it was something you knew. That's the basis of due-diligence, and he was missing a good chunk @@luv4hutch
“Despite its reputation, finance, as a subject, is in fact something that you, a layperson, can learn. It is a lot less impenetrable than it seems; Wall Street is awash with B-minus students who wrapped their heads around it. You can too.”
One of the most unexpectedly reassuring things I’ve heard in quite some time, and I felt pretty comfortable with my understanding of the subject already. 😂
Thanks, Dan!
It's reassuring, since it means even idiots like me can influence and control the global market. It's also horrifying, since it means that many idiots are indeed currently influencing and controlling the global market. And some of them are billionaires.
It is very important to note that, yes, while most systems you interact with on a daily basis are going to be byzantine nightmare constructs of historical laziness, absolute lack of care about people who might find it hard to use them, and pure laziness, they _can_ be navigated. Dan will be accused of trying to muddy the waters by pretending the subject matter is more complex than it is anyway.
A grating contradiction about the conspiratorially minded folks, is that the theories must simultaneously be overly complex, because only then can they pretend to be experts and dazzle those even less intelligent than them, but they also must be as simplistic as possible in order to sound realistic to the same people.
He’s got such a strong dad energy you never want the disappointed-dad vibe to be pointed at you but anytime he says anything like “you can do it” it makes you feel like your dad really believes in you
@@Arrakiz666Byzantine, Russel brand is here.
It's less about dazzling the supposedly less intelligent and more about dazzling themselves. It's how they convince themselves that they're super-experts who've cracked codes that have baffled even the actual experts. It's a delusional savior complex mixed with a hefty dose of the Dunning-Kruger effect. @@Arrakiz666
I gotta say, centering the critical text (IE-price is fake) while swapping through posts at rapid speed is a nifty visual effect. Hats off to whoever thought to use that.
Completely agree, never seen anything like that but it's the perfect illustrator of the prevalence of THAT exact idea
Agree as well, was a super cool effect. Like Dan mentions, it's just bizarre to me how these "do your own research" conspiracy types love to repeat specific phrases verbatim, like some kind of mantra. Flat earthers, covid deniers, etc
@@TheMisternyancryptodingbats, QAnon followers...
I feel like this is the perfect summation of Dan’s clear long-term involvement in Internet culture. It reminded me first and foremost of the old YTMND trend of “Lindsay Lohan never changes facial expressions”, where they made a rapid-fire GIF of publicity photos of LL aligned so her face was always in the same space and at the same scale. Here the same idea was implemented with text instead of a celebrity’s face.
Timestamp?
I never knew the "this is not financial advice" meme was an attempt to cover one's ass in the event of being accused of market manipulation, I thought it was in case someone took your shitty advice, lost all their money, then tried to sue you for influencing them lol
It's probably for that too.
@@raven_g6667 lil column A, lil column B
Is influencing someone to be a dumbass that does not benefit me instantly even illegal?
Or both.
@@ashutoshsethi6150 Well, they own a position in what they are trying to convince you to buy and are absolutely willing to lie and hide crucial information so I could definitely see them being stuck with legal liability regardless of their "This is not financial advice" cliche.
Seeing so many people be deprogrammed from the MOASS conspiracy theory in this chat is awesome
Wow. We rode the dan train from being a cardboard box talking about evangelion to being THE journalistic voice on internet finance.
And we got to watch the Dan Train cause total carnage as it plowed through NFTs, a bad crypto video game cosplaying as the Matrix, and ghost-written audiobook grifts along the way!
I'm pleased Mr Olson has set himself up in such a socially responsible yet entertainingly informative niche. :)
dont forget the flat earth video@@sixstringedthing
And I'm absolutely here for it. Pipe dream is a partnership with either the Green brothers, Kyle Hill, or both.
I'm hungry, what should I eat?
No. He pretty chalked the whole thing up to chance & pretends that wallstreet bets didnt know exactly what they were doing.
The sincere belief that Rick and Morty held coded messages about their insane conspiracy was the exact moment I realized these people can’t be saved.
To be fair, you have to have a very high IQ to understand Rick and Morty. The humour is extremely subtle, and without a solid grasp of theoretical physics most of the jokes will go over a typical viewer's head. There's also Rick's nihilistic outlook, which is deftly woven into his characterisation- his personal philosophy draws heavily from Narodnaya Volya literature, for instance. The fans understand this stuff; they have the intellectual capacity to truly appreciate the depths of these jokes, to realise that they're not just funny- they say something deep about LIFE. As a consequence people who dislike Rick & Morty truly ARE idiots- of course they wouldn't appreciate, for instance, the humour in Rick's existential catchphrase "Wubba Lubba Dub Dub," which itself is a cryptic reference to Turgenev's Russian epic Fathers and Sons. I'm smirking right now just imagining one of those addlepated simpletons scratching their heads in confusion as Dan Harmon's genius wit unfolds itself on their television screens. What fools.. how I pity them. 😂
And yes, by the way, i DO have a Rick & Morty tattoo. And no, you cannot see it. It's for the ladies' eyes only- and even then they have to demonstrate that they're within 5 IQ points of my own (preferably lower) beforehand. Nothin personnel kid 😎
@@Whitecroc uh huh
@@JaydonTobler (It's a copypasta meme! Don't worry.)
@@Whitecroc fhew, I had a feeling because I wondered how someone with these opinions would have even found this video lol
Rick and Morty had an episode where they resolved the plot by making money worthless, but I don't think that was even in the meme displayed in this vid!
I don't get most of the financial things BUT THE APES ANALYSING THE BELT BUCKLE FOR SECRET MESSAGES IS THE MOST UNHINGED THING IVE EVER HEARF
Considering these are people who are into Alternative Reality Games and deep diving into game lore, see Five Nights at Freddy's, this is pretty normal.
@@ronnickels5193 there a difference between analysing fiction for figure out lore and whatnot and analysing belt buckles for financial advice
@@ronnickels5193 yeah, but FNAF is MEANT to be pried open and scraped for clues. These are _kid's books _
@@ronnickels5193 yeah, but diving into FNAF is the point. It is designed to have lore to be examined. Not so here.
As someone who actually worked at GameStop for 2 years, I cannot describe how physically painful it is to rewatch the guy going into the store at 1:53:45... the amount of people who came in like that during that period in early 2021 was just the worst. Vivid memories of someone spending about 30 minutes in the store giving me investment advice, just the worst kinds of people you've met.
@@kxv210it's not dehumanization it's saying these schizophrenic weirdos are annoying
@@kxv210 Spoken like someone who's never been held hostage by a customer who has decided to bombard you with their insanity. I say held hostage because they will be fired for asking these people to like... stop bothering them while they're working.
Your pearl clutching is pretty pathetic.
@@kxv210 cope harder
@@kxv210 you have the charm of chronic arrested development
@@kxv210did you not watch this video? The guy in this video is 1000% bombarding a GameStop employee with their insanity
"Apes aren't anti-Wall Street, they're tsundere for Wall Street" is one of the most incredible and insightful sentences I have ever heard.
It's an Anime thing, right? What exactly does it mean?
@@baguettegott3409A tsundere is a character whose inner sweetness (usually romantic feelings) is masked behind a rude, unfriendly facade. This archetype usually shows up specifically in romance anime, or at least romance plots.
@@baguettegott3409 As noesun said. It's basically boys pulling girls' pigtails because they're too imature to say they like them.
he mispronounced it though. which invalidates his whole argument
@@mycophobia I did consider mentioning that I've never once heard it pronounced like that.
Finding out that "wife-changing money" wasn't just a funny pronounciation Dan was doing for the past 2 hours was genuinely the most devastating plot twist I've experienced in years. How are these people real
Nowadays I'm not surprised by anything, young people are in depressing positions at an era where everything's rapidly changing. Lots of people are gonna do crazy things...
It's not? Damn
@@zaidlacksalastname4905 spoilers for two hours in, the phrase "wife changing money" is real and refers to how much they resent their spouses, often lying or obfuscating what their investment actually is worth and how much of the shared account they threw away. it's hard to tell, but either the phrase implies that the money will change their spouse's mind, or it will allow them to divorce their current spouse and marry a trophy wife
I held on to my faith in humanity for 2h and told myself I must be mishearing him. G u e s s n o t.
+
The Teddy Day segment blew my mind because like,
I’ve gotten pretty deep into the Undertale/Deltarune community, and those games are THICK with hidden symbolism and secret narratives, so when you start digging into the minutia of every tiny little thing it can look a lot like what these people were doing.
The difference is that, first of all, Deltarune people often know that they’re delving into insane conspiratorial territory and revel in that fact, it’s fun to get crazy and throw around wild ideas, and second that it’s a fictional story crafted by a real person to have a deep literal and meta narrative that is intended to be unraveled. Unraveling the story is the secondary form of engagement with the media, just after playing the game itself.
To see people delve into that kind of thinking, picking apart names and designs, but trying to apply it to real world events with massive financial consequences… it’s fascinating, to say the least.
Yes theses kind of theories scratch an itch ! There are multiple work of arts that play with this notion and invite the user to engage with theory crafting. Like the Bloodborne or Dark Souls game, it feels so good to understand something vaguely hinted in the game. But these are works of fictions ! Made by real people who left holes in there stories for interpretation !
Legit kind of what I was thinking. I was present in the fandom for the tail-end of the Gravity Falls run, just before the final episodes were getting released, and I had a lot of fun with the theorizing. It was all the same, picking the tiny clips of the show apart for the most miniscule of clues, symbols, turns of phrase. I was watching these segments and I really thought, "wow, maybe these people just really need to get intensely into online fandom". It scratches the same itch, without the disastrous stakes
Literal kids books...
@@agnieszkasalach4395 honestly yeah. The current version of that is definitely Deltarune, it’s gotten to the point where someone can mention how “Spamton’s a cat” and everyone just nods in agreement like “well yeah we know but what about it?”
Plus instead of waiting for a mythical MOAS, you’re just waiting for yknow
The next part of a game to come out.
1:39:00 His desktop has the folders, "NFTS," "Nudes," "Antarctica Research," and "Aliens and the Moon." You can't make this shit up.
Yah know you've fucked up when someone looks at your desktop and "Nudes" is the most normal thing there.
it's like he's trying to play into every possible stereotype, but you get the sense that he's serious about it
Food $200
Data $150
Rent $800
Stocks In Dead Candle Company $69420
Utility $150
someone who is good at the economy please help me budget this. my family is dying
remove food, you don't need it 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Don't need rent when you've been kicked out of the family home for -stealing- -gambling away- investing your wife's savings!
just hold until the rapture, it'll come eventually!
stop buying stocks
@samumohacsi no
Thank you for explaining why someone who used to be one of my best friends in the world went literally insane and stole my car to drive it to a shareholder meeting in Texas in June of 2021.
Did you get your car back?
What the fuck man
How *dare* you just drop that into the comments and peace out without elaboration? :P
Holy shit
Years later, you finally get an answer as to the utter insanity of that day
wtf??? wow.. tell us more.
Damn dude y'all produced the hell out of this! Let me go get some popcorn.
Edit: Oh no. I thought "wife changing money" was just a flub the first time it was said, but...it's something they actually say, isn't it? Please tell me it's not. It's not, is it?
Edit 2: Oh no.
I like to think that this was Dan's internal monologue the whole time he was researching this vid.
This is the darkest timeline.
They’re right, once their wives see how much they’ve lost they’ll dip
I would just like to credit you on the comedy of how you paced your response in the edits.
(I apparently did the same in my running commentary when watching Good Omens, Season 2, Episode 6)
How can someone be self-aware enough to realize their trading strategy is "driving backwards really fast at a wall", but delusional enough to think the secret level in Ready Player One will open up and save them from financially ruining themselves?????
Because they're already in the car and are headed towards a wall. There's a saying. If you're falling, you may as well try to fly; you've got nothing to lose.
The problem is that the delusion they've picked is one where, in order for the ground to open up, they *must* drive *faster* towards that wall. And that they must convince others to start doing the same.
@iuffcgpuu I don't think you can make sense of a non-nonsensical comment by breaking it down. Whatever sense you do find by doing so is coincidental. In actuality, it's 100% delusion.
I think another aspect is that Apes think they are the protagonists of reality, and our society has brought them up largely fostering that. Everyone's the hero of their own story, they just take it to an uncommon but not unprecedented extreme.
See also "Every other generation of human beings that has ever lived has died, but we will not; Jesus is coming back to get us before we die, because we are the most special people that have ever lived."
If they love a shitty book...
I’m grateful that Dan decided to fill the niche of dissecting and explaining the cultural and psychological aspects of the financial and social anxiety of the online generation and the actual nonsense that’s coming out of it.
Just when you thought the worst thing FOMO could be responsible for was people continuing to pre-order shitty live service video games...
Oh and the salty comments from the temporarily embarrassed millionaires in the comments is the cherry on top.
Talk about finding a needed niche to settle into and then immediately dominating all relevant discussion
I knew for long that those in this absurdist game were quite insane. I did not realize the insanity ran so deep as to belive that shiny pieces of paper registered to themselves would mean a hill of beans in the event of an unforeseen forced financial collapse.
If the economy as we know it were to collapse, they'd be the ones against the wall first, having a complete lack of valued skills and having assets that others will want. Shiny pieces of paper? Great, I can line my {purely hypothetical} falcon's cage with it before she scratches your face off, and then I'll take your bullets.
Exactly. There are good, important and relevant reasons behind the people who buy into Stonks cultic thinking, even as the actual beliefs they lead to are absolute nonsense.
"Other capitalists care about me" is a truly incredible assumption that's only rivaled by "we can all be rich under capitalism" in terms of mythology.
Reminds me of the Cryptobros' mantra "We're all gonna make it" despite the fact that their entire system is a whole Pump & Dump hot potato, where most people won't make it even in the most optimistic scenario.
At one point I went to the sub just to see what they were up to after a long time and all I saw was "this capitalist wants us all to be rich" and "it's not left vs right but the top vs the rest of us". NFTs were also really going to make everything big too. The first 2 comments are just delusional, the capitalist is being a capitalist, and top vs the rest while begging the rich for something and ignoring that phrase generally describing the left. The last one was just a little sad seeing that the thing people thought would turn everything around was... NFTs. That was the big hope.
And the worst part is, it's hard for me to be disappointed with them. The system IS extremely confusing and messy. Mechanisms in which capitalism works IS deliberately obfuscated. The pandemic was incredibly boring and this was the perfect storm to frantically read into and get lost in a story, and a financial collapse frankly was a very reasonable assumption given the conditions all around, supply lines, etc. It is normal for people to feel alienated under late capitalism but especially under a pandemic social distancing order. It's all a little sad. Things went back to "normal" and this whole "movement" turned out to just be a small fading group of hopefuls
It reminds me of the "my FBI agent" meme. No one who used it fully believed they had a personally assigned federal agent watching them constantly (to my knowledge), but the core kernel is this fantasy that a human piece of a crushing institution loves you enough to pay attention.
@@mirandameyer237 I mean, comedians like Patton Oswalt and Marc Maron had early versions of that meme in their standup. It is really about narcissism more than anything else.
Yeah, who is making that assumption besides dan?
I like how these conspiracy mfers use the phrase "follow the white rabbit" to encourage each other when in Alice and Wonderland, following the white rabbit meant going deeper into a dream LMAOO
I think they associate that more with the Matrix, where I guess it makes more sense
@@haceofspades7682 But in the Matrix it's a reference to Alice in Wonderland. It's even an actual Alice tat, IIRC
@@clsisman also consider that follow the white rabbit got heavily coopted into the Qanon discourse
Arguably the concept of a rabbit hole has lost that particular meaning in modern society. If you say "Last night I fell into a rabbit hole on the situation in China" you are very clearly saying you were obsessively learning about something and getting into more and more niche explorations of the topic. Not a defence of these guys just a... uh pedantic defence of the evolution of language
@@skeetsmcgrew3282 Yes, that's when a phrase becomes a cliché, when it no longer evokes an image in the reader's mind. But this is specifically about following a white rabbit rather than falling down a rabbit hole, and while I agree with you that the latter has gone through that process and become a cliché, the white rabbit image hasn't.
The term "Gaming Industry" used unironically to refer to people who play games is so buckwild, like I know it just gets worse from there, but every time I watch, it just sticks out like a sore thumb.
The industry wouldn’t exist if there was no money in it. Also, literally 99% of millennials and 99.999999% of gen Z play video games or at the very least own some kind of gaming system. It’s like owning a tv. Every household has one. The market for gaming is gigantic and is still in its infancy.
Also, why on earth would a company like NETFLIX introduce a gaming feature to their platform? 😂😂😂 Because gaming holds people’s attention. Don’t you think all of these games that parents are hooking their children onto from an early age will have an effect into adulthood? Look what happened with Ninja and Fortnite. Gaming is an industry that will be here to stay. Gaming is addictive hello??? Addiction = money.
@@kxv210this doesn't mean GameStop would be the one to capture the gaming market. They're still losing money, and now Cohen is running out of employee benefits to slash and stores to close with no viable market to pivot into. They don't out compete online retailers in sales of video games or peripherals, their nft and web3 plans failed and were discontinued, Gameshire Stopaway is just unverified smoke cooked up by weirdos online but even if it wasn't, it's I gigantic ask for people to pivot from established companies like Berkshire Hathaway to an overvalued brick and mortar video game retailer. With all that in mind, how does the company's future look? Since the bubble burst, the stock price has dropped hundreds of percent, tho is still higher than any historic peak pre 01/21, back when their company actually provided a service to consumers.
Here's real, legitimate concerns and criticism of your position. Do you ignore it, scamper off to another comment and pretend no one said or saw this, or will you actually meaningfully address this with something other than canned responses like "you're a bot," "I love my fans," "the hate is so forced," "75 million DRS" or some other equally meaningless catchphrase?
@@kxv210 And how many of those gamers are buying their games online through Steam, EGS, GoG, the Playstation store, the Xbox store, the Nintendo eShop? Gamestop is trying to sell box copies of games in a digital market, and most of those box copies won't even contain a disk- or cartridge with a game on it any more; they'll contain a link to one of those digital stores, assuming that the developers even bother releasing a box version - Gamestop is an unnecessary middleman whose relevance is rapidly dwindling.
@@Tzilandi Worse than a middleman, they're a _meddling_ middleman; a literal middle manager within the marketspace. Just about everyone from game developers to high level conglomerates wants em gone, so they can get their share of the plum pudding without Gamestop stealing the plums.
And without the PLAYR market, indies and smaller developers can't exactly go to them (though I imagine it was a front for terrible NFT games given why it was so quickly canned.) so Gamestop is SoL.
"[Apes are] sitting around a blackjack table, convincing each other that there's a secret rule: That if you hit 31, then the dealer has to give you their entire tray. So hit me. Hit me. Hit me. Hit me."
This so perfectly encapsulates how depressing this whole mess is. These are people desperately pressing themselves against a grindstone in the firm belief that *eventually* they'll be rewarded beyond all reason or measure
Squeezing blood from the stones that aren't even stone.
@@XanthinZarda If they had a stone it might have iron in it that could at least be used as the building blocks for blood.
sigma grindset, baby! work will set you free!
@@Pseudo-Fraxineus Except they're not even doing work. I hate that part of their rhetoric, constantly talking about the 'battles they're fighting' and the great 'efforts' they're putting in, and how 'tireless' their campaign has been. All when they're not doing shit except wasting time online. And then have the NERVE to reply, "Why are you even here? Must be sad to waste your life on Reddit!" whenever they run out of ways to defend their obvious nonsense.
@@maynardburger yes, and in a sad way the fact they think they doing work, hard manly labours, fighting against the man/machine, etc., speaks to the psychological trauma that makes them vulnerable in the first place.
Honestly the part where you said "they don't hate wall street, they're tsundere for wall street" made laugh out loud, another magnificent documentary here Dan, bravo.
Where does he say that? I missed it
@@Chimera-man-man 2:22:30 is best timestamp. You can search the transcript found in the description for any specific term or word.
@@dominictemple thank you
bro didn't even pronounce it right i'm dead LMFAO
Ooooh, that's what he was saying! I went back like 4 times and I still had no idea.
I can't get over the quote in the beginning where the person says, "They picked a fight with the gaming industry," as if picking a fight with people who play video games is the same thing as taking on the industry as a whole
Like Dan said, the Apes have deluded themselves into thinking that grinding out a tough bossfight in a game is applicable to the stock market - apparently, the idea that games are designed to be beatable entertainment, whereas the stock market... is neither of those things, has never once entered their minds.
Seriously. Like, sorry dudes, just cause you’re okay with face grinding mmo rep doesn’t mean whatever financial delusion you’re currently undergoing has anything to do with the rest of us.
It’s repurposed gamergate rhetoric, which at least made some sense there since there was no tangible risk to supporting gamergate. Being too stubborn to admit defeat isn’t a strength though if defeat potentially means going broke
It's hilariously sad to me that these people consider gamers to be part of the industry. They're not a cog in the machine, they're fuel.
Do you guys seriously not see those posts as jokes, ironic and self-deprecating? It's so obvious to me. I can't imagine a chronically-online person not knowing the whole "whaddup, gamers!!" brand of humor. As soon as the first grandma bought the first "I paused my game to be here" t-shirt as a X-mas gift, it became a mega-popular source of cringe humor online. I can't imagine a millennial or younger being online enough to have a reddit account AND, simultaneously, so not-online as to not notice how cringe this sounds. It fits the mold of popular self-deprecating gamer jokes too well to be a coincidence.
If anyone ever says the words "infinite money" to my face in any context besides hack Sims cheats, I'm blocking them lmao
kaching
@@jamesderiven1843 motherlode
Then what do you make of the Fed saying this:
Neel Kashkari: “There’s an infinite amount of cash at the federal reserve”
@@kxv210 It's a stupid thing to say that he said in the context of assuring everyone that the economy was fine, just fine, during the pandemic. Yes, the Federal Reserve can in theory print as many dollar bills as they want. No, this will not cause the actual amount of monetary value in the country's economy to increase. Each individual dollar will rapidly become worth less. In any scenario where the US government actually gives you infinite money, you will be unable to buy bread by the end of the week.
Something I found interesting about the constant comparison to "The Big Short" was that the explicit point of the movie was even though the main characters had "beat the system", they were all miserable, realizing that "the system" dragged down everything around it as it failed. I guess the apes must have turned off the movie halfway through.
The movie doesn't even leave it to subtext; Brad Pitts rant about rising suicide rates coinciding with major recessions is what shuts those two mini-Hedge Fund dudes up when they wanted to celebrate the deal of their lives. The only guy who isn't emotionally affected by it all is Ryan Goslings character, and that guy was framed as a massive dick from the beginning.
@@Donnerbalken28 and yet, Ryan Gosling is hot and when he is emotinally disaffected it looks Cool and Powerful, the message is lost in that. He still Wins, if only for a while.
Apes want to Win, they dont want things to be good.
Most conspiratorially minded individuals also have no media literacy, see The Matrix, American Psycho and obviously The Big Short.
The original Matrix movies are used by far right misogynists who want to reinstate the patriarchy and repeal queer rights for LGBTQIA+ communities when the movies themselves were written by trans-women as a allogory for gender exploration and 'waking up' from the matrix of binary gender expression and heteronormativity, instead choosing to live in a shitty real world as yourself where the world itself is hostile and alien (eg homophobia and transphobia), rather than a fake world where you pretend to be okay with existing as a cog without identity (eg pretending to be straight or gender conforming).
American Psycho is used as a ideal to aspire too, where Patrick Bateman is potrayed as a idol, when the movie was a critique on the overly macho male fantasy of financial, sexual and violent freedom, how Patrick Bateman was really a pathetic loser poser, where his 'murders' were most likely made up in his head out of frustration and inferiority, where the man literally enters a dick measuring contest using the font, cardstock and colour of buisness cards, the cards themselves being utterly worthless pieces of paper and cardboared yet Patrick cares so much about literal paper that he begins to shake and go crazy, illustrating the fragile masculinity and utter impotency of men like Patrick, grandstanding, macho, violent and sexual men, being utterly useless and incapable of doing anything (aside from picking on the weak and underprivileged who cannot and will not be defended by the system, people like the homeless man and dog, the 2 struggling sex workers, the only truly confirmed kills), and the writer of the book the movie was based on is literally a gay man, the antithesis of the 'macho' male Patrick Bateman that this new generation of 'Sigma' men look up to.
I haven't watched the Big Short like the other 2, but I have seen the clip your talking about, and the point is literally yelled at the viewer, 'The system sucks! People die! Stop being so self centered and actually look around yourself!'.
Honestly conservatives have like 0 brain cells in the literacy department, they hear whatever they want to hear and see what the want to see and thats it.
This reminds me of a joke from Clone High: "I saw the first two thirds of the MC Hammer 'Behind the Music', and if there's one thing I learned, it's that the money never runs out!"
Another irony is that apes say they HATE shorts. But of course they dont really, they only hate it when it affects their money. They were 100% fine with the people who shorted the banks in the movie.
The reason that the Gamestop short squeeze was so powerful was because it was _unpredictable._ No one could possibly have seen it coming. That's what the Apes as they currently stand fail to grasp; they've become completely predictable in their behavior. Even if that behavior is irrational, the fact that it is _predictably_ irrational just makes it another market force to be accounted for, another number to plug into the calculation. As Dan says, the hedge funds have already figured out how to exploit them. While they concoct a dramatic narrative about how they are sticking it to The Man, The Man is laughing at them from behind a fake mustache as he collects their money in a little bin with "INVEST HERE TO FIGHT THE MAN" scribbled on it. It would be funny if it wasn't so sad (okay, it's still a _little_ funny)
They are truly, truly regarded
That is a hilarious mental image
The beginning and end of my knowledge of this whole subject prior to the video was that a hedge fund was planning to profit off of Gamestop's failure, and _somehow_ a bunch of Redditors exploded a movement to hold as many stocks as possible and start chanting "diamond hands", a few in it for potential gain, but most of them out of a sheer vengeance-fueled personal vendetta for the 2008 financial crisis. I had no idea it had exploded outwards into this utterly deluded cult of personality, but I guess it's not exactly surprising in retrospect.
“Wanna know what the definition of insanity is?”
It wasn’t unpredictable what are u talking about
Only for mainstream normies who get their information from tik tok
It's cruelly poetic that after years of fixating on, but failing to find any "fake shares," now at last they can finally point to something that could kind of be called that: The defunct remnants of what were once BBBY shares sitting dead in their own portfolios, like a pile of unused Nintendo Wii Points.
I hate that this can happen to people, no matter how awful they may be.
They're all victims of the flaws and intentional obfuscations of capitalism, but instead as seeing the whole system as the problem they just want to control it for themselves, completely ignorant of the fact that the rich and powerful will pivot to feudalism once capitalism stops working for their benefit
In truth, they were the fake shares all along.
maybe the real treasure was the fake shares we made along the way
I mean the companies and people surrounding them did basically everything they possibly could to be tell these people they were being foolish and investing in a losing position.
The phrase "wife changing money" us so incredibly gross on so many levels it just makes me feel sick.
The comparison to sovereign citizens is really apt. It's like this idea that law and governance is sort of like computer programming, and with the right mechanical exploit you have the power to do anything.
When in fact, institutions can just say "Nah" and suspend the rules as an emergency measure. Debts can be forgiven, etc. That's what real power is.
Yeah it's basically how people view the society we've set up as some sort of hardcoded reality that we have no say in. It ultimately stems from a sense of lack of control and there are some actual points to made about democratic control over institutions and so on... But these people are ironically engaging in the problem in the most unproductive sheep-like way possible.
That's what happen when people start to believe that Capitalism is some sort of natural law.
It isn't, power comes from violence and the rules of this world have been re-written multiple times by class violence.
Yeah exactly. Let’s say that everything about MOASS was true, that if some set of circumstances came to exist the US government would be obligated by some set of rules to give its entire gdp away to some redditors. Even in that ridiculous fantasy scenario they would still get nothing as the government would just change the rules.
I feel like this comparison is maybe too silly, since it's to fiction. But in the popular anime BOYS IN MECHS 2010s EDITION there is a villain who plans out and successfully organizes a long, complicated plan that enables him to unpopularly-but-legally claim the right to rule.
And the government he has just legally taken over... Just ignores his claim. Because of course they would. Because a plan of victory that relies on a rules technicality is great for games, but does not work in real life.
@@IAmOfAll it goes back far beyond that - for a while it was a real trend in cartoon/comics to have these kinds of plots, including a very famous Disney/Donald Duck story (that I believe was the impetus for those other stories): The basic setup is something along the lines of "he who has that relic/gets that signiture/finds that document becomes king of the US/America/owns all the land" and everybode really believed that. Everyone genuinly believed if you get that crown you become king... because it was a childrens story (though even in the original story there was the implication that in-universe they were all just too mad with power to realize how crazy it is).
great documentary.👏
Hi coffee! Glad to see you enjoyed it too!
Ayo! Dan did a really good job of summing up why you keep empathizing with the victims. =)
This is why you’re the only watchable cryptotuber.
@@paulmahoney7619I wouldn't even call Coffee a cryptotuber, he's an investigator who keeps going into crypto scams among others, and because all of crypto is a scam that boy is going to have plenty of material to work with for a good long while.
It's always nice when small UA-camrs like Coffeezilla pay their respects.
Now, I do feel silly for outing myself as a member of the GME movement, BUT I feel compelled to comment.
Since, like you say, many of the MOASS elements are true (wall street is greedy, naked short selling does hurt companies, financial regulation is lacking etc.), the lure of wealth on top of that makes you blind to the contradictions, especially when you have very little understanding to begin with.
All of this is impossible to debunk from the outside, so thank you for going down the rabbit hole and pulling me (and others) out with you.
I invested over the course of a year and a half and will sell the shares I currently hold (losing amounts, thankfully, that I could afford to lose).
I did also bring my siblings into this, which I regret somewhat. To the best of my knowledge, they didn't invest any larger amounts either, though.
I will talk to them later today.
Thank you again for this de-programming experience. I subscribed to your channel.
Yeah, the most insidious conspiracies are ones that have some individual elements that aren't wrong. "Wall Street is super greedy and there's not enough regulation" is just demonstrably true. But then it uses those elements to lead to foolish conclusions, like the oddness of "So hold onto these Gamestop stocks and eventually it will lead to unlimited profit"
Good on you for getting out.
Good luck to you!
It makes me very happy to see this comment, hope you can spread the word and good luck!
That’s really cool of you for bothering to listen, dude. It can be really difficult to bother giving consideration to opposing viewpoints sometimes, I know I have trouble with it.
especially when they’re presented as flatly as this was
Is it weird that Dan's long videos (This is Financial Advice, Line Goes Up, and The Future is a Dead Mall) are on my rotation of videos to fall asleep to? He has a good voice and a friendly, but not high-energy demeanor that makes it both easy to engage, but also easy to doze off if you're so inclined. Like, soothing, sort of? His videos are primo background noise once you've thoroughly enjoyed all the well-researched information.
Same here
Same here. I've memorized the entirety of 'The Nostalgia Critic and The Wall'
Oh man same though.
Gotta watch them on 2x speed. Maybe ChatGPT v6 can summarize videos in the future.
Aren't you ripped out of the doziness when the clips of other people play?
A lot of people mistake "high risk, high reward" as meaning anything with a high risk inherently has a high reward.
This weird ass cult of purposely throwing money away is high risk, no reward
And yet they say that all you have to do is buy one share and wait, and you're guaranteed $1 billion share value. Their narrative flips wildly on even its most basic concepts.
It's actually genuinely funny that they're so deep into their "infinite risk = infinite reward" thing that they're missing the fact that the *one thing* they obsess over more than anything, short selling, has *infinite risk and finite reward* (well, more accurately, unbounded risk and strictly bounded reward, but the terms "infinite and finite" mean "unbounded and bounded" in this context anyway)
This video didn't mention this, but it should have. In the study of Finance, increasing risk, does correlate with increasing returns. However, when you adjust for this risk taken, the reward isn't 1 for 1 with risk. This is why why good finance professionals look for risk adjusted returns. Basically, how to maximize your returns while minimizing your risk.
For your average person, this is actually fairly simple and was solved in the 90s using Fama and French's 5 factor model which found the risks that are the most compensated over time. These risks can be isolated by asset class, and stock picking to try and achieve this actually decreases your expected risk adjusted returns.
For those wondering, the 5 factors are: Market risk (basically just willingly taking on standard market volatility), Size of the company (small companies average higher returns as an asset class), Value (cheap stocks have higher returns as an asset class than expensive stocks), Profitability (profitable companies out perform unprofitable companies as an asset class), and Investment (companies that invest for the future beat those that don't as an asset class). Note, all of these are about the asset classes as a whole, not any individual stocks.
"drunk driving is high risk, so it must be high reward" - the "ironic" reasoning behind a disturbingly high number of "drunk driving is fun and you should do it" memes popping up online the past couple years
So apparently, they are so fixated on having all the money in the world (infinite reward), that they didn’t realise they have practically zero chance of getting it (infinite risk)
"To a person with autism, words mean something"
words to live by
Not just words to live by, words that mean somehting
@@noizepusher7594 Not to me, I'm neorutypical. Language basically doesn't exist.
@@brocksteele7475 ah sorry, let me make my post more accessible.
Translation: ooooga babeebabop swuimblo gwakami
There we go, some words that mean nothing
As an autist who struggles to understand metaphors, that person could just be confused.
OR, maybe they are autistic, but their own frustrations/anxieties with being a social "outcast" lead them into this cult and they think they see more than the others... But who am I to judge.
@@noizepusher7594as a Sim, boog twambo, eega barg
I bought some GME right after the peak, lost about $200. Wasn't a big deal, I just saw it all over the news and had fomo about it. I was 22 in college at the time and getting a huge payout would have been life changing for me, but I also didn't have enough money to actually invest and take a huge financial hit.
You calling these guys gambling addicts really stuck out to me. I know I have a very addictive personality. I also have the bad personality trait of thinking deep down that I'm "better" or "smarter" than qanon conspiracy theorists, climate change deniers, relgious cults, etc. But damn, all it took was me knowing nothing about a subject and feeling left out to buy into this bullshit, even just half assed for just a few short months. I'm so glad I didn't have any actual money at the time to lose.
This video was humbling to say the least lol
If you were 22 at the time of GME at peak, that means you're still pretty young in the grand scheme of things. You're at the right time of your life to really be understanding those aspects of your personality and getting that introspection, so honestly sounds like you're doing fine. Took a couple hundred bucks loss to learn a lesson that clearly a lot of people never learned and only kept on digging themselves in deeper.
I think that's what really shows you'll be someone who actually learns and grows and understands their personal flaws and works to overcome them, opposed to apes who just bunker down and refuse to accept reality. It takes more strength to admit when you're wrong or beaten and pick yourself up and learn than it does to refuse to accept it.
Good on you for knowing and seeing your personal pitfals. Keep with the introspection and willingness to be wrong and you'll go far.
Those are personality flaws, just realize they're pretty much 100% universal to humans. The addictiveness thing is on a spectrum so that's good to keep an eye on, but everyone's got weak spots to exploit, can be people pleasing, guilt, brain freeze during stress etc etc.
When I was 21 I put $600 into some pyramide scheme "stocks" because the most stereotypical sleazy sales guy pitched it to me and some friends for like two hours. (I didn't know what pyramide schemes were back then... I knew I didn't feel like recruiting people to it however, but then he presented this wonderful opportunity to get in on their "stocks", and it seemed like, if there's a 1/100 chance it's not bull I should take it... lol). I'm now 41 and have managed to tie my shoes daily and not join any cults or get majorly scammed since. Can still happen, but, have hope 🙂
You learned, and admitted your faults and mistakes. Im proud of you, keep on doing it and you’ll be less likely to fall for this stuff in the future
At least you learned.
I'm just here after like my 5th rewatch to confess I am obsessed with that livestream clip of the vote. This Elle person just fabricated this "more votes than outstanding shares" quote out of absolutely nothing.
Of this entire video, watching 3 people hear one quote (REPEATED TWICE) and just fully invent a contradictory quote… it gives me chills.
It takes an impressive amount of gall to misquote what a person just said, _twice, while they are still there,_ and then shout down someone who tried to correct you.
And for the person who got shouted down to want to be convinced otherwise despite hearing and repeating the actual quote...
Dan Olson analysing post-modern secular cults is my favourite genre.
Would be HILARIOUS if anyone normal reading this took a look at Jon Stewart interviewing Jim Cokerat. Or S1E5 from The Problem.
@@kxv210you keep posting this, what do you expect people will get from that interview that relates to the video? It's not a secret that wall street is full of greedy assholes and idiots like Cramer, it doesn't mean everyone who thinks they're fighting against them is right
Calling Qanon secular is... quite funny
@@damien678hes never rly done a vid on qanon, just mentioned it adjacent to other topics. but also qanon being described as secular doesnt seem totally ridiculous to me, i do think particularly at its inception it was more of a secular conspiracy theory and then eventually satan became an intrinsic part of it
@@vlad5042 the flat earth video wasn't really about flat earth, it was an essay/documentary on qanons, the flat earth stuff was just a segway/intro.
“It’s just Reddit’s version of the Rapture” is an excellent line which perfectly explains all the emotional stakes.
Apes often use art of the rapture in their moass memes. They are somewhat self aware about it
@@YOSSARIAN313 literally never happens 🤡 you’re not even good at spreading misinformation
@@kxv210 man so much coping and seething from you in this comment section
@@YOSSARIAN313 Not. A. Cult.
@@kxv210 citadel is fine. They are still incomprehensibly wealthy
Someone please explain to me how this 2.5 hour UA-cam documentary has become my comfort show that I watch in its entirely at least once every couple of days. I’m gonna be able to recite it from memory soon at this rate.
I was literally just thinking the same thing, I'm so glad I'm not alone.
I have watched this video dozens and dozens of times. I can speak his words along with him now. There's just something really comforting/satisfying about it.
Y’all are WEIRD AF
Anyway DRS GME
Legit came to drop a comment that I'm on my like 8th watch 😂 I already watched this twice last week, it's just so well-done and fascinating. Cheers fellow serial-watcher, enjoy your upcoming viewings!
Regardless of what he's talking about Dan is just a comfy looking and sounding guy. I think that is it part of it.
Same! This video is on my list of many of Dan's vids that I comfort-rewatch. I think at least partly it's because of how hilarious I find his deadpan, straight-faced sense of humor. :)
I appreciate you, other commenters, for letting me know I'm not the only one who watches these long videos dozens of times. Makes me feel slightly less weird.
The absurd complexity is somehow soothing. I also subscribe to the Figure Four wrestling podcast thing every so often and just go through their episodes, because pro wrestling combines not mattering even slightly with endless complexity for my brain to latch on to. It like, docks with the same 'receptors' in my brain that would normally try to fixate on political topics or current events until I drove myself more mad. So instead, stuff like this helps.
Yep, I've watched all of his videos dozens and dozens of times, in watching this for the second time today. There's something very comforting about it
It's like Hbomb's Pathologic video.
Think this is my third or fourth rewatch.
I watch them once to learn something, and then again because they're comfy.