@Hyolobrika @Breakfast with every ponzi scheme, every pump-and-dump, a few people who got in at the beginning - often "poor" people - do well; that's nice for them. But given that it's inevitable that far more will get the shaft, forgive me if I don't celebrate.
If Redditors had found secret diamond mines buried under every Gamestop, i.e. something that actually revealed hitherto unknown value in the company, I'd feel different. But they really, really haven't.
@Hyolobrika @Breakfast ...as for the wealthy hedge funds - sure, a few might go under. You know what'll happen to them? They'll be gobbled up by even bigger, wealthier hedge funds (the ones who weren't exposed, but are now shorting the hell out of the most overvalued stock on the market to make a killing.)
So, net result:
A few poor people get rich. Yay.
A lot more poor people get even poorer. Boo.
A few wealthy funds becomes fewer even wealthier funds.
Many more poor people who got in late (while Reddit is shouting "buy buy buy" and "hold longer") will be left with worthless shares they spent their savings on. Nothing they do changes the fact that GameStop is NOT a 26 billion dollar company, so that is guaranteed...
@Hyolobrika GameStop shares weren't cheap because of The Man. They were cheap because it's a business that leases high-street shops to sell empty plastic boxes for people to put the things they buy online in. Sure, it's a niche, but not really a growth market.
But the stock does have the advantage of a devotedly noisy following on Reddit who can be manipulated into hyping it just long enough to bank a tidy profit, for anyone unscrupulous enough to try it.
@Hyolobrika it's a classic pump-and-dump scam. Take a cheap stock (say, one that's cheap for a reason, like its business model is dead) and buy a load. Then pump the share price with fake news, or by just convincing a load of gullible folk that if they buy the stock they'll be sticking it to the man.
The marks all invest in the shares with money they can't afford to lose. You on the other hand sell the shares you bought earlier at the top, and leave them holding the baby.
@nyquildotorg also known as "bikeshedding": https://effectiviology.com/bikeshedding-law-of-triviality/
@charims a small Kubernetes cluster: 4 nodes on ancient Dell FX160s (Intel Atom thin-clients designed to hanging off a monitor on a bank clerk's desk) that I picked up for a song on eBay and upgraded, and one 'power' node which is a homebrew Ryzen 3700X machine.
That lot runs a friend's WordPress, an old Joomla site of mine, and my main site, as well as Mastodon and various "infrastructure" things like ingress tunnel.
(Most important it's also my compile/build cluster.)
@murilega Mastodon solves the problem of large corporations collecting and monetising your data. In every other respect it's as much - if not more - of a cesspit as the major platforms.
Partly compounded by the fact that disproportionately the people attracted to it will be from minorities who feel oppressed on the mainstream platforms - which sadly includes the worst of the oppressors. The more big social media cleans up, the worse it will get.
It's all terribly depressing.