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Speaker 1: Do you guys hear that? Nope, Often the distance, it's

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Speaker 1: the sound of billionaires crying. Listen, listen closely. The reason

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Speaker 1: the market is doing what he's doing is people are

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Speaker 1: singing home giving the checks in the government. And this

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Speaker 1: fair share is a concept. It's just a way of

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Speaker 1: attacking wealthy people. And you know, I think it's INAPPROPI

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Speaker 1: We're all going to work together and pulled together. Did

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Speaker 1: you guys hear it? That was a billionaire that is

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Speaker 1: crying so annoying? It really is. Billionaires are whining like

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Speaker 1: crazy right now, and not their normal whining where they

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Speaker 1: just bought a new bottle of Merlau that costs more

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Speaker 1: than the country's economy. I mean, billionaires haven't whined this

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Speaker 1: bad since they got a Bugatti instead of Lamborghini for

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Speaker 1: their seventh birthday. But I wanted a Bugatti that I'm

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Speaker 1: going to CON's mom. Yeah. Why are the world delete

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Speaker 1: so sad right now? It's all because of an amazing

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Speaker 1: thing that happened on Reddit. Sometimes I love the Internet

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Speaker 1: because stories like this. If you didn't see what happened

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Speaker 1: last week in the stock market due to Reddit, I'll

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Speaker 1: try to break this down for you in regular, normal,

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Speaker 1: non rich people's stock marketing terms because it's hard to understand.

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Speaker 1: But once you break it down, it's very easy to

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Speaker 1: understand if you use it in normal people language. Yeah,

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Speaker 1: I'll try to sum it up for you in one sentence,

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Speaker 1: but then we'll break down exactly how it worked. Okay,

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Speaker 1: a group of amateur investors saw an opportunity to make

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Speaker 1: a lot of money if they invested in game Stop,

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Speaker 1: the video game store at the expense of a hedge

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Speaker 1: fund that was betting game stops. Stock would go down.

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Speaker 1: Now billions of dollars later, hedge funds are crying to

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Speaker 1: Congress to change the laws so they can keep their

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Speaker 1: power on Wall Street. Oh my god, all because of Reddit.

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Speaker 1: So here's what happened. We'll go through it and give

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Speaker 1: you the details. So the first thing that happened, there's

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Speaker 1: a stock term called shorting. Okay. Shorting is not for

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Speaker 1: short guys in the stock market. That's where you predict

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Speaker 1: the price of a stock will go down instead of up. Right.

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Speaker 1: So it's kind of like gambling, isn't it. Yeah, it

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Speaker 1: kind of is. So if you short of stock when

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Speaker 1: it's ten dollars and you sell it when it's seven,

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Speaker 1: you actually make three dollars, right. Number two, If you

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Speaker 1: short stock and it goes up, you have to cover

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Speaker 1: the difference. Oh so you lose a little money, right,

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Speaker 1: So you can lose a lot of money. So if

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Speaker 1: you've got a stock at ten dollars, you say it's

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Speaker 1: gonna lose money, but it goes up to fifteen. Now

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Speaker 1: you're on the line for that extra five dollars and

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Speaker 1: it gonna be a lot of money, you know. And

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Speaker 1: then on Reddit there's a group on there called Wall

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Speaker 1: Street Bets where amateur investors share stock tips and talk

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Speaker 1: about their day trading successes. Right, probably not a lot

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Speaker 1: of successes, yeah, because they're you know, they're traders doing

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Speaker 1: penny stocks or whatever. Just normal everyday people talking about stocks.

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Speaker 1: They usually talk about them through lots of memes and emojis,

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Speaker 1: like because it's Reddit, that's how they do things. Anyway.

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Speaker 1: A few weeks ago, someone on Reddit noticed a huge

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Speaker 1: hedge fund called Melvin Capital. Melvin Capital had taken a

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Speaker 1: huge short position on the video game store game Stop.

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Speaker 1: So they said games Stop is gonna lose money. But

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Speaker 1: there were some indications that game Stop wasn't in that

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Speaker 1: bad of shape, right, So it wasn't like completely failing,

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Speaker 1: but this company said it's gonna lose its stock. So

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Speaker 1: this Reddit group made that game stop stock skyrocket, and

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Speaker 1: the hedge fund wound up losing more than thirteen point

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Speaker 1: one billion dollars, oh my billion dollars business anymore than

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Speaker 1: because you might imagine the very professional investors and the

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Speaker 1: people who own these headphones are really upset because Reddit

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Speaker 1: and the people on that message board made them lose

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Speaker 1: thirteen point one billion dollars. Incredible, they were taken down

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Speaker 1: by people who love memes right out of irony. They

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Speaker 1: lost their business. Yes, yes, so the big Wall Street

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Speaker 1: executives started throwing their weight against it. They want legislation

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Speaker 1: that would make it illegal to do what the Wall

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Speaker 1: Street Bets group on Reddit did. Make it illegal, okay,

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Speaker 1: so okay, yeah, So basically there's saying they want to

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Speaker 1: make it illegal just to talk about stuff, to talk

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Speaker 1: about stocks on the internet where it is not governed,

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Speaker 1: so it's fine for them to do. Yeah, fine, people,

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Speaker 1: And keep in mind, these guys are getting arrested a

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Speaker 1: lot for inside trading tips and things like that, doing

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Speaker 1: horrible things, and they're like, hey, hold on a second.

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Speaker 1: But but technically, I mean, couldn't a group of redditors

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Speaker 1: do this to every single headpies? Yes, they could. That's

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Speaker 1: why this is amazing. That's what they're trying to get

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Speaker 1: it so they can't talk about it online. Oh you know,

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Speaker 1: we should do what we should get make the billionaires

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Speaker 1: very angry at this show and start giving daily Reddit

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Speaker 1: stock tips. Yeah, that's a great idea. What the Jewel

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Speaker 1: Show takes down the stock market? Can we drive up

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Speaker 1: some stock? Yeah? I think we could. We should, we should,

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Speaker 1: let's try it. Okay, text in four would you want

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Speaker 1: to do um red Robin? Oh? Okay, yes, everyone loves

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Speaker 1: rob Okay, yes, let's buy some red Robin stock. Everybody

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Speaker 1: start buying red Robin stock right now, drive it up

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Speaker 1: and then well, first, I guess we should see if

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Speaker 1: there's like somebody betting against it like they did on Reddit. Okay,

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Speaker 1: maybe we're not ready for this. Figure out. Just look

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Speaker 1: up to see who. Yeah that, yeah, we'll look it up.

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Speaker 1: If we give false information about what stocks are doing, well,

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Speaker 1: and I'm wrong, don't we get that's illegal? Right? Yeah,

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Speaker 1: we'll give real information. Okay, Yeah, because you get to

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Speaker 1: get in a lot. That's how Jordan bell Full got

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Speaker 1: put in prison. That's right, Um, I watched the movie. Okay,

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Speaker 1: we might reb rethinking the stock things, going up against

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Speaker 1: very rich, powerful people that run this country. Let's just

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Speaker 1: head over the inner where it's unumbered. Yeah, we'll just

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Speaker 1: use just Yeah, we'll go just do that and remain

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Speaker 1: anonymous doing it. But now by game stock. Yeah, check

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Speaker 1: out game stop stock. It's apparently I don't even want

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Speaker 1: to say anything anymore. Now we shouldn't have even known

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Speaker 1: the segment. Probably going to jail if anything comes out

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Speaker 1: in the news that we were telling people wrong information

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Speaker 1: about buying stocks. I don't know about you, Alex, but

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Speaker 1: I heard English Evan give all that information. It wasn't

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Speaker 1: you or I for surely here we go. Yeah, Evan,

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Speaker 1: I can't believe he did that. I don't even know.

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Speaker 1: Why would you even put this situation. Wow, you might

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Speaker 1: be willing to go to prison, but I'm not. I'm

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Speaker 1: gonna be loved in prison.