Wall Street was the real winner of the GameStop saga

Re:Wall Street was the real winner of the GameStop saga by raxxorrax on Monday February 07, 2022 @05:53AM (#30243028)

You propose certainty where there is none and I am not talking about preventing it outright. I also do believe that it a profitable endeavour with very little general advantages as it is right now. That is more parasitic than constructive, so in that regard it fails to justify itself and regulation is required. Little would stagnate if modern fintech would be scraped almost entirely. Human impact should be secondary here.

Additionally creative destruction can also mean that I destroy the wealth of those that currently do profit from canceling companies prematurely. It is applicable to economies rebuilding after a war, not applicable to Gamestop. That is an excuse for exploitation.

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Re:Wall Street was the real winner of the GameStop saga by gruez on Monday February 07, 2022 @10:17AM (#30245961)

>I also do believe that it a profitable endeavour with very little general advantages as it is right now.

the "advantage" here is that the true value of the company is reflected in the market, so that capital is allocated to the best companies rather than the most hyped ones.

>That is more parasitic than constructive

Can you explain how it's "parasitic"?

>Additionally creative destruction can also mean that I destroy the wealth of those that currently do profit from canceling companies prematurely

Isn't that what happens if someone thinks a stock will go down, shorts it, and gets it wrong?

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