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This Is Financial Advice Preview Draft (Patreon)

Published:
2023-08-19 04:16:17
Imported:
2023-08

Content

Hey everybody, the final stretch is in sight. I'm posting this in a less finished than usual state because we still have a couple days of recording left to do so that'll give us the opportunity to hopefully address anything that's just not working.

Probably our most ambitious video to date, I really hope y'all like it.

Files

TIFA weekly August 18

Clickbait Title: Written and performed by Dan Olson Crowdfunding: https://www.patreon.com/foldablehuman Twitter: https://twitter.com/FoldableHuman

Comments

Anonymous

Lord there is a lot of information in there to try an keep track of. Love the video. Not sure if its the sort of thing you are asking us to point out, but at around 44.50-44.56 there's a flub and repeat which hasn't been edited out

Anonymous

I have never commented and became a patron specifically for this video. I agree it's kind of weird pacing wise, and it doesn't really introduce the concept. This is not like the NFT video where I could and did pass it to my wife and so on. It just kind of assumes a lot of known context. It might also help to mention options vs. shares more clearly and especially the role RobinHood had in teaching a lot of millennials/genz types to gamble on the stock market with options trading. Wallstreetbets is a direct result, and that begat Gamestop, and Gamestop begat the more recent meme stocks. On that note, a big thing that's missing, honestly, is context about who these people are, what they think they're doing, and especially how many of them there are and where they came from. So ok, these guys are gamblers (which you mention at the end and honestly it deserves to be mentioned a lot earlier and not just in the closing) laundering their gambling habit through investment advice. Wallstreeetbets is gamblers, but a lot of /r/Wallstreeetbets guys move on when something doesn't work, and mostly these days they focus on losing money betting against Apple or Nvidia. But the AMC/party city/bbby people are gamblers who.. for some reason, started to believe. They distilled out of the general gambling-with-options group into something weird. I also think it would be worth at least mentioning the dynamics of the reddits in particular, where people literally can't be bothered to read a summary of an 8k (or whatever) and literally ask for "wrinkle brains" to come and interpret whatever has happened for them (in, as you note, a forced-positive way). One last thing: I think it might be worth framing the start in the ZIRP/rapid growth/free money setting that created it. Without a stock market bubble, Wallstreeetbets would never have taken off because the Robinhood gamblers would have had no wins to reenforce their behaviors. At the end of the video, you kind of express sympathy for the people being grifted. Reality is these guys are mostly young and stupid or gamblers and liars. Like bbby and amcstock and so on all have a lot of posters who routinely mention that they are basically in over their heads because if it doesn’t take off, their spouses will almost certainly leave them, at the very least they will be humiliated in front of family and friends. I think there's a human angle that is there but doesn't rise above the noise of the narrative. Lastly, I do wish you'd note the relationship between your observations in the flat earth videos, the prosperity scams (mickelson twins), the NFT and crypto cultists, and so on and how this has a relationship to that. The BBBY crazies are a borderline apocalyptic doomsday cult, and that does come across, but that we appear to live in a golden era of cults which birthed the things listed above, birthed this, and will birth something else, kind of doesn;t. Either way, I am so pumped about this being close to getting out the door. Watching the ape thing emerge has been pretty disturbing as the low-thought problem is endemic all over society. Last edit, I promise: it is probably also worth having a screen shot of https://www.reddit.com/r/prtyhouse/ (the party city reddit) and the grim sticky at the top: "Please sticky: Crisis Services USA: Suicide Prevention Service 988. Remember, it's just money."

Anonymous

There's a flash of yellow highlight around 35:37 that disappears, seemingly, before it was intended to.

Connor Hennessey

Just noticed a minor structural issue: You never really set up why AMC and Adam Aron are part of the Meme Stock culture. I'm unfortunately familiar with Ape lore so I understand, but why AMC theaters is involved might need a 30 second primer on why earlier in the video. (https://www.youtube.com/watch?v=UEzAmUNeNQo&list=WL&index=156&t=8079s for the time stamp an I think there was another Aron tweet story later on in the essay)

Deko Puma

A couple comments: You use the framing "People familiar with this are probably wondering why he's been absent so far" twice for two different people, using almost identical wording. It might be worth making one of them different. You mention at the beginning that the reason they are called apes will be explained later, but the only explanation is a very brief "apes together strong" quote. Might be worth adding an additional sentence to explain the context. Finally: "They don't hate Wall Street, they're tsundere for Wall Street" is a truly glorious comment that deserves to be framed and hung on the mantelpiece.