One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…
I definitely support the notion of moving from platforms to protocols, at least in theory. I do think you're going to run into the need to regulate wherever communication starts impinging on not-purely-informational constructs, like securities. I really hope that gambling on GME is not a "major part" of a significant number of people's lives.
It's a major part of the mega wealthy's lives. They've profited in this pandemic and it's not because of the fundamentals. Shorts squeeze the market too much but they ( hedge funds) should be responsible adults and take their losses. Not force Robinhood to unethically force sell it's massive user base to liquidate b/c their system bit their biggest customer.
We're about to see whether the people actually have rights or if this is actually a class warfare situation. I suspect it's the latter.