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El. knyga: Degenerate Generation: The Reddit Revolution and the Rise of the Rich Kids

3.61/5 (457 ratings by Goodreads)
  • Formatas: 336 pages
  • Išleidimo metai: 05-Mar-2024
  • Leidėjas: Dey Street Books, an imprint of HarperCollins US
  • Kalba: eng
  • ISBN-13: 9780063205888
  • Formatas: 336 pages
  • Išleidimo metai: 05-Mar-2024
  • Leidėjas: Dey Street Books, an imprint of HarperCollins US
  • Kalba: eng
  • ISBN-13: 9780063205888

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From the noted New York Times reporter and author of Digital Gold comes the definitive human-history of one of the most extraordinary events to hit finance and technology in decades, complete with exclusive interviews with old-guard hedge funds, social media influencers, digitally-native young traders, and the tech founders who made the “big long” possible.

In late 2020, members of the Reddit forum r/WallStreetBets noticed that large hedge funds had staked millions of dollars betting against Gamestop (GME). Partly out of fondness for the struggling video game retailer, partly out of faith in new shareholder Ryan Cohen (of the pet food behemoth Chewy.com), and partly incensed with Wall Street, they meme’d into existence a trading frenzy that exploded across all corners of the internet. By the last Friday in January 2021, the CIO of Melvin Capital, Gabe Plotkin, watched GME close after a rise of over 1,700%, taking with it 53% of his funds, while those who held stock since early January rejoiced at dreams enabled, whether they were affording tuition, a fancy car, or just beating Wall Street at its own game.

In WallStreetBets, journalist Nathaniel Popper reveals the fault lines underlying January 2021’s battle between the Redditors and the hedge funds. It began in the wake of the 2008 economic crisis, when witnessing the Occupy Wall Street protests inspired Vlad Tenev and Baiju Bhatt to create Robinhood, paving the way for previously disaffected millennials and zoomers to take ownership in the stock market. Now, with Robinhood facing class-action lawsuits for briefly halting trades, “Roaring Kitty” and other Redditors testifying before Congress, and bullish social media buzz becoming the foundation of a new mutual fund, it’s clear that Wall Street no longer calls the shots. The people do. 

Recenzijos

A smart, unsettling take...ambitious Fortune

Incisive...While other journalists have portrayed WallStreetBets as the David to Wall Streets Goliath, Popper depicts the subreddit as a refuge for young men starved of connection whose disaffection deteriorated during the Trump presidency into a wellspring of racism and misogyny. Vividly reported and remarkably evenhanded, this stands out as one of the more critical assessments of the GameStop rally. Publishers Weekly

*A Next Big Idea Club "Must-Read Book" *

A disruptive tour-de-force. The Trolls of Wall Street explores in an elegant and precise narrative the bros and the subculture behind the WallStreetBets phenomenon and how together, they changed Wall Street forever. William D. Cohan, author of Money and Power and The Last Tycoons

Every investor should read this book. Few tell a story like Nathaniel Popper, and The Trolls of Wall Street is a great reminder that markets don't always obey the clean, rational laws of finance: They are driven by people, who occasionally lose their minds. Morgan Housel, author of The Psychology of Money

Popper deftly opens up private chat rooms and late-night screens to tell the story of the very human humans behind a movement to crack the wizardry of Wall Street. An engrossing examination of how one of Reddits communities grew from fringe to a force capable of moving markets. Christine Lagorio-Chafkin, author of We Are The Nerds and editor-at-large at Inc. magazine

A vibrant testament to the power of the internet, The Trolls of Wall Street captivates with stories of digital Davids taking on financial Goliaths. Nathaniel Popper's immersive reporting and entertaining storytelling illuminates this unprecedented upheaval in the financial world. Bradley Hope, co-author of Billion Dollar Whale and Blood and Oil

A brilliant exploration of human behavior in the internet age. To most of us, the frenzy surrounding GameStop and other meme stocks seemed like just another financial bubble. Popper shows it was something entirely different and new: stock trading motivated as much or more by anger, loneliness, and a need for male companionship as by the eternal desire to make money. Joe Nocera, co-author of The Big Fail and All the Devils Are Here

Popper has untangled the hyper-complex story of meme stocks and WallStreetBets and spun it into a fascinating, meticulously researched narrative about the lives of the real people involved. Dale Beran, author of It Came from Something Awful

Nathaniel Popper covered the intersection of finance and technology for the New York Times. He is the author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money. Before joining the Times, he worked at the Los Angeles Times and the Forward. Nathaniel grew up in Pittsburgh and is a graduate of Harvard College. He lives in Oakland with his family.