I want to discuss a hot topic in financial markets right now and that is the r/wallstreetbets (WSB) subreddit and the potential for using these types of platforms to direct donations into RBE type projects. If you are not familiar with the controversy surrounding retail investors on reddit skyrocketing the value of Gamestop and other stocks such as AMC and Blackberry, then check out these sources:
In the youtube video, the retail trader Keith Gill testified to the United States Congress how he used his own analysis of the value of Gamestop to drive his decision to invest heavily in the stock; analysis he learned to compile from his time as a financial educator. The reason why his analysis is so important is that the majority of retail investors do not have access to in-depth financial analysis because the vast majority of investment analysis can only be bought for large sums of money. So by providing this information for free and distributing it widely on reddit and other social media platforms, Mr. Gill was “leveling the playing field” by giving access to high-level stock analysis. I myself decided to invest in Gamestop stock after reading his and others analysis of the stock, and more cynically because I wanted to make the hedge funds shorting the stock to feel the same pain regular employees of Gamestop felt as they saw the value of their company diminish over time. What a joy!
While the value that free investment analysis brings has inherent value in itself for those trying to build wealth such as myself, you might be wondering “where is the TZM angle in this? What value can this situation possibly add to our train of thought?” My take is this: wall street and financial speculation will be around for as long as the monetary market economy is still dominant. Of course, Wall Street should eventually be abolished because it reinforces a gambling ethos, however it also represents an opportunity. The number of people participating in the WSB subreddit is at 9.6 million as of this writing, a very large amount of people organized around a single purpose: to make money. However, that money is not just being used for themselves.
In the CNN article, something that caught my attention and made me glad that I waited to post this blog is the impromptu WSB campaign to adopt gorillas through the Dian Fossey Gorilla Fund. Although the driving force behind this campaign was due to users in WSB calling themselves “apes” and therefore decided to “save fellow apes”, the effect is still immensely positive both for the climate and for the wellbeing of each individual ape adopted. This got me thinking, what if we started a campaign within communities such as WSB to direct donations towards RBE type projects? All it took to kick off a bunch of donations to the Dian Fossey Gorilla Fund was one person posting their adoption certificate with the adoptor’s name being a funny play on inside jokes in the community to drive up interest in the viral campaign.
My question to those of you reading this is: would it be a good idea to start a viral campaign of my own with WSB since I have the opportunity? If I were to do so, what would be an effective wording be for a post in a money-centered community? I have some ideas on this that I will post in the comments below.