The Real Losers and Winners Behind GameStop's Stock War

Turns out buying stock isn't praxis.
Screenshot of Animal Crossing, Tom Nook, a Tanuki wearing a green sweater vest, white shirt, and red tie, sits behind a desk, his eyes covered with dollar signs.
Image courtesy of the Author

The saying “the house always wins” refers most often to the fact that casinos, in order to remain solvent businesses, will always have the odds tilted in their favor. Sure, sometimes someone will get lucky at the roulette and cash out an extraordinary amount of money, but the truth is that for every winner there’s easily tenfold losers. The house always wins also applies to most institutions that are setup and run by the wealthy and powerful. The Stock Market, that great legitimized gambling house of the top 1%, also lives by that famous idiom. While it can be considered some bit of good that a hedge fund lost a lot of money shorting GameStop stock, it turns out other investment firms and institutions of wealth hoarding are having a field day. We have Motherboard staff writer Edward Ongweso Jr. on Waypoint Radio today to discuss the real winners and losers of the last few weeks.


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