Louis' Look: Youngsters Don't Need To Blow Up
In Chamath's interview making the rounds, he argued that as much stick as the subreddit WallStreetBets has received, there are some sophisticated pockets of the community producing some high-level research.
Seriously, go ahead and get a Reddit account and talk to some of these people...
Back just 10 short years ago, you didn't have young teenagers flinging Growth stocks on their phones. If you hold the view that today's teenagers are on the same level as those just 20 years ago, I think you're seriously missing the point.
High school courtyards used to be dominated by cricket and footie. Now it's cool to have arguments with your homies about why Bitcoin will replace fiat. I can't even play a game of Counter-Strike without people arguing about Gold in the chat...
I think it's naïve to discount this growing adoption as froth. It's a lot more than that.
This movement (if you want to call it that) isn't just isolated to Dogecoin and high-flying Micro-Caps, it's already moving Silver, a $1.5T market... The Silver ETF $SLV took in a billion dollars of inflows on Friday after WSB named the Silver market as their next toy, doubling the record for this ETF.
Millions of teenagers (emphasis on teenagers) all across the world are coming together in a coordinated attempt to move specific markets. This is no longer just a meme...
With all these resources and information that those before them could only dream of having access to, I think the youngsters will surprise a lot of naysayers.
Call me bias, but I'm bullish on this generation.
I'd love to hear people's thoughts on this one! Was this just a hot take or is there something here?
Louis