Currently Nerdy

Currently Nerdy


Reddit vs Hedge funds, GameStop, & Robinhood

February 27, 2021

2021 is shaping out to be wild. Today we talk about the rise of the redditers against the hedge-funds. We discuss the stockmarket crisis around GameStop, bitcoin, and the impact of apps. We dive into how reddit organized a massive uprising against hedge funds, using their own unfair tactics against them. This leads us to talk about the coordination of Robinhood to stabilize stocks. We discuss the illusion of democratization which apps like Robinhood rely on. We link this to Youtube, Instagram, TikTok and how they rely the illusion of access, diversity, and democratization while simultaneously consolidating corporate power. For an app calling itself "Robinhood" the app quickly worked to defend Wallstreet. This leads us to analyzing how hegemonic power works and tech companies.