4.6 • 8.2K Ratings
🗓️ 15 May 2023
⏱️ 20 minutes
🧾️ Download transcript
In 2021, scrappy young investors from across the world joined forces to buy GameStop stock, aiming to take down greedy hedge funds. What came next was tragedy, injustice, and a conspiratorial internet cult so stupid we had to do an episode about it.
To hear the rest of the show, support us on Patreon:
https://www.patreon.com/IfBooksPod
Click on a timestamp to play from that location
0:00.0 | Michael. Peter. How familiar are you with meme stocks? Not super familiar, but I do know that if you want to get rich |
0:07.2 | It's very obvious that you should start with the place you also go to to buy a used copy of Banjo, Kazooie |
0:13.6 | We purposefully refused to commit to any particular subject matter for our bonus episodes, but I think we've largely stayed to this point |
0:37.7 | within the framework of like media critique and this is the first episode where the primary justification is that I just want to talk about this |
0:46.8 | I've been in a Reddit rabbit hole on this for two years on my own. I'm so excited. I'm losing my mind and now I have a platform and I'm just gonna dump it all on you and our listeners |
1:00.1 | The only reason I'm doing this is because this opens the door for me to eventually do an episode about Eurovision |
1:05.5 | I'm glad we made it |
1:07.5 | So this is basically the story of how a widely publicized breakout in the stock of the video game retailer GameStop in January 2021 |
1:20.4 | grew into a full blown cult predicated around an elaborate conspiracy theory |
1:27.5 | I love this shit |
1:28.2 | So did you follow the original sort of GameStop stock run up in 2021? |
1:34.8 | All of this financial stuff I treat like sports people clearly care a lot about it, but like I don't get it |
1:42.6 | So it was one of those stories that I just looked at and was like no |
1:48.8 | I'm just not going to investigate what's actually going on here |
1:52.5 | My understanding was it was like there were some subreddits and it was like some dumbasses who were basically shorting the stock of GameStop |
1:59.6 | I guess |
2:00.6 | Yeah, that is the basics |
2:03.2 | I am going to start from the beginning here which is a little bit before |
2:07.5 | The events that sort of enter the media spotlight in 2019 a man named Keith Gill a financial analyst |
2:16.4 | Under the social media handles roaring kitty and deep fucking value |
2:22.0 | Started to publicize |
2:24.2 | On investing forums and on his youtube channel |
... |
Transcript will be available on the free plan in -681 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Michael Hobbes & Peter Shamshiri, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Michael Hobbes & Peter Shamshiri and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.