IWIB Talks & Podcast #2. The Game Stop fiasco

What is the effect of the GameStop & Wall Street fiasco?

To understand it, IWIB has invited Catherine Mulligan whose comments on the Guardians article might give a different perspective of what happened then and what should happen in the future. According to Catherine, GameStop is what happens when decentralisation becomes large scale – for example;

1. This is only possible because a large number of people are now able to coordinate in near real time.
2. It illustrates the true economic potential of digital platforms, rather than just the ‘social media’ or ‘advertising’ business models we have seen so far.
3. From a cryptocurrency perspective, we can also see the resurgence of DogeCoin thanks to Redditt – this represents people starting to experiment in the digital financial system in new ways.
4. This is effectively the “crowdfunding” of hedgefunds – but without the boundaries of the firm – it is individuals working together towards a common aim.
5. This is a challenge for regulators as much as it is for hedgefunds – is it legal to play hedgefunds at their own game?

For Catherine, therefore, this overall represents the emergence of a new economic structure that will start to co-exist alongside our well established one. She does not think it will replace it, but thinks they will co-exist for some time.

Welcome! 

IWIB Team