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Originally Posted by Ab
It's like the narrative arc of a slave rebellion/Spartacus/Hunger Games/casino story. You're cheering for them, but you know that at some point in Act 3 a sad mentor figure is going to give the "you had a good run, but you didn't seriously think they were going to let you win, did you? the system is the system and it was built for them, not for you" speech.
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Well it looks like the house won in the end, the hedge funds are all still there and all still in control of the system.
For the WSB raid - and that's what it was, it was a MMORPG raid - to be successful, the players needed to be able to communicate with each other, they needed for the client software to work, they needed the server to stay up, and they needed to be in the game and all Leeroy Jenkins at the right time. Just when it looked like the crazy fuckers actually had a chance, every one of those things failed. What are the chances.
- Discord took down the WSB channel for "hate speech". There goes comms.
- Robinhood locked users out of the app, executed sales without authorisation, and restricted trading. There goes the game client.
- The big trading houses like Schwab and Ameritrade halted trading of GME stock. There go the servers.
- Those three things took care of the fourth - there goes time. Enough of the players were locked out for long enough that the big hedge funds were able to consolidate their positions without interference, and they were able to lean on media channels to write stories about a "mob" of "possible Trump supporters" and have outlets like CNBC lie that "the funds have all closed their shorts anyway so the game's over" and have a million or so brand-new anonymous users register new reddit accounts and join r/wallstreetbeets and start posting "hey it's time to sell I'm selling you should sell too let's try another stock ooh look at that shiny thing over there".
"the system is the system and it was built for them, not for you"