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Reddit's GameStop, AMC surge is the new Occupy movement

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Re: Reddit's GameStop, AMC surge is the new Occupy movement

#71

Post by s_dev »

Hamuko wrote: post #34
anthk wrote: post #3

Good. I'm tired of fake Economics where the value of a company or the product is not made from the real value of it, while some yuppies get rich in the proccess. The more they cry, the better. Hope is collapses so "middle" and low class workers can get fair prices of what they earn by doing actual hard work. Because this will create a good crash, dont fool about it. It will harm everyone, but at least this Century wi…

> I'm tired of fake Economics where the value of a company or the product is not made from the real value of it I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.

>I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.

This comment reads like "I don't understand Apple is valued so high when they still have the exact same basic bugs in production for over 10 years".

And they do! Some bugs are just never going to get fixed in a system of that size and scale.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#72

Post by criddell »

ceejayoz wrote: post #24
agildehaus wrote: post #17

Earlier quoted context omitted.

No, it's not real economics. It's the little guys coming together to fight the big guys at their own game.

A lot of little guys are gonna be left holding the bag at the end, though. The stock was probably overvalued at $10. It's definitely overvalued at $400.

People were shorting this stock when it was an order of magnitude less expensive. Isn't it an even more attractive short target now?

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#73

Post by xyzzyz »

vonwoodson wrote: post #62
anthk wrote: post #3

Good. I'm tired of fake Economics where the value of a company or the product is not made from the real value of it, while some yuppies get rich in the proccess. The more they cry, the better. Hope is collapses so "middle" and low class workers can get fair prices of what they earn by doing actual hard work. Because this will create a good crash, dont fool about it. It will harm everyone, but at least this Century wi…

Totally. You know Uber has yet to turn a profit? This is in spite of talking as much of an advantage of a labor force as possible.

They can make profit any moment, by killing Uber Eats and focusing on ride segment, which is very profitable. Look at financials.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#74

Post by dcow »

castis wrote: post #48
Hamuko wrote: post #34

Earlier quoted context omitted.

> I'm tired of fake Economics where the value of a company or the product is not made from the real value of it I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.

Neither can anyone else, which I think is why we are where we are right now. TSLA shot up on what I'd always assumed was the equivalent of a feedback loop. I dont understand what will happen if/when that comes down but my blind guess is that it won't be pretty.

TSLA is pretty obviously valuable to many people. The days of it being cool to be anti-elon are over. Go rent a Tesla for a day and try it out. You’ll understand.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#75

Post by ARandomerDude »

Simulacra wrote: post #20

It's only terrifying to hedge funds and the rich. We've seen this before in very limited circumstances where citizens acting on their own, force the hand of the powerful/rich, who really don't like to be challenges.

A lot of "ordinary" people buy into funds hoping for a decent retirement.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#76

Post by gassius »

kuu wrote: post #37
monoideism wrote: post #36

Earlier quoted context omitted.

Parent isn't claiming GME is "real" economics. Parent is claiming GME will help pull down our current fake system, and help the middle and lower classes receive fair compensation from the system. Whether this approach works or not, I don't know. But the status quo isn't tenable for a democratic society. This chart says it all: https://www.epi.org/productivity-pay-gap/

What did happen around 1979 to have such a clear change?

A little bit earlier

Bretton Woods system collapsed between 1971 and 1977

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#77

Post by Emma_Goldman »

this_user wrote: post #54

The only thing more ridiculous than the rise in the GME stock are these attempts to frame this is some sort of culture war. All this is is a bunch of people on an online forum trying to make a quick buck; it's not some grand statement against Wall St. or whatever.

It's obviously both, to some extent, and it's less a culture war than a class war.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#78

Post by symlinkk »

ajkjk wrote: post #60
Hamuko wrote: post #34

Earlier quoted context omitted.

> I'm tired of fake Economics where the value of a company or the product is not made from the real value of it I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.

Tesla is one of the few modern companies whose value actually makes sense to me. They actually make something! that people want to buy! that's way better than most of ad-tech which seems like a multi-layered pyramid scheme.

You know who else makes things that people want to buy? Toyota, VW, Honda, Ford, GM, BMW, Mercedes. Tesla is worth more than all of those combined.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#79

Post by elicash »

this_user wrote: post #54

The only thing more ridiculous than the rise in the GME stock are these attempts to frame this is some sort of culture war. All this is is a bunch of people on an online forum trying to make a quick buck; it's not some grand statement against Wall St. or whatever.

It's more than one thing. There are lots of different people involved with a mixture of motivations. It's not just playing out in a single forum, either.

And while I'd agree making a "quick buck" is a driving factor, arguably "the" driving factor, that term is also relative. The average time between trades for a high-frequency trading investment firm is 40 seconds. It's out-of-place to talk about these folks making a quick buck when average trade times are measured in seconds and money is made based on having a PHYSICAL location that enables faster trades by nanoseconds.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#80

Post by TheRealDunkirk »

xyzzyz wrote: post #65
ajkjk wrote: post #60

Earlier quoted context omitted.

Tesla is one of the few modern companies whose value actually makes sense to me. They actually make something! that people want to buy! that's way better than most of ad-tech which seems like a multi-layered pyramid scheme.

So does Toyota, which makes more things that more people want to buy, and yet is only valued at a quarter of Tesla.

Toyota makes fairly boring products of the last century. Musk is currently shooting rockets into space and deploying a network of satellites. The optics of this cannot be discounted.
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