KuleshovSequence [he/him]

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Joined 4 years ago
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Cake day: December 26th, 2020

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  • Bailout isn't really a good term for it. Other billionaires are giving Melvin money in exchange for revenue shares. This isn't a gift, it's a purchase. Melvin does a lot of short selling, and has been extremely profitable for the last 6 years. Due to WSB and other investors buying against shorted positions, Melvin is now losing significant amounts of money. Melvin needs money quickly, which means they are more willing to sell revenue shares at a lower price. Billionaires like Steve Cohen see this as a buy-low opportunity. The idea is that Melvin is likely to become profitable again in the future (a decent bet, as WSB will probably not be able to successfully fuck with shorted positions forever). Basically, his hedge fun thinks that it is a profitable decision to invest in this hedge fund.


  • KuleshovSequence [he/him]tomainGME opened at $350 holy fuck
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    4 years ago

    This is correct. Plus many of the biggest holders of Gamestop stock are other hedge funds and wealthy individual investors, and they bought their shares at $5 a share, so they're making more money than anyone. The capitalists overall are not going to be losing money on this.

    The biggest financial losers (outside a couple of hedge funds) are going to be laypeople and first-time investors who bought shares of GME at $200+ a share (or whatever), and aren't able to sell in time when the stock inevitably crashes. GME isn't really worth more than $20 a share (at most), as it is a failing company with an outdated business model, so the share price isn't going to stay overinflated forever. People started buying this share as a meme (and to fuck over the large number of hedge funds that were shorting it), and then other people started buying it because it was increasing in value quickly, prompting other people to do the same, causing the stock price to spike nonsensically (and many of the buyers are hedge funds, and they are much better at timing, such as buying on the dip, than laypeople are). Basically, this is a gold rush. Or perhaps, more accurately, a disorganized pyramid scheme.

    Eventually, the price is going to be so high that people no longer want to pay the cost of a share (what price that will be is anyone's guess). At that point, people are going to start to sell, and this entire process will happen in reverse. Once a significant chunk of people sell, the price will start dropping, causing more people to sell before it crashes, ect. This process will continue until the share prices end up right around where they were before. The professionals are not going to be the ones losing money on the crash, as they trade quicker than laypeople and have no incentive to hold onto GME for memes or whatever. First-time investors and memers are going to be the ones holding the bag, as the shares they paid hundreds for are going to be worth a fraction of that.

    Basically, if your a Chapo who has already made a significant amount of the Gamestop increase, I would cash out now (or soon, but the longer you wait, the greater the chance that you lose all your gains). Personally, I would definitely not be buying at the current price, as it is well beyond the level of risk I'm comfortable with (this is, essentially, gambling, though that doesn't mean the odds stay fixed). If you're doing this for a meme: BUY. If you want to keep any profit: SELL.

    All this said, the whole situation is pretty funny, and does highlight the speculative nature of capitalism. We are seeing a stock market boom/bust cycle on the micro level of a single stock over a very short period of time. Rampant speculation causing a meteoric rise in value, followed by a collapse just as extreme (Gamestop's Black Tuesday is coming). However, this isn't really doing all that much to affect the capitalist class.


  • Of the top 50 highest grossing movies of the 2010s there are 4 that aren't sequels, remakes, or superhero flicks: Frozen, Zootopia, The Secret Life of Pets, and Bohemian Rhapsody. Not a good look.

    That said, plenty of good films came out this decade. They were just lower budget or arthouse, and as such, didn't attract the same type of audiences. One of the better trends was more visibility for non-white filmmakers.

    There is more TV than ever due to streaming, but it isn't necessarily better quality TV. In general, streaming makes it more difficult for a single show to dominate public consciousness, as there are so many different options for people to view. GoT was one of the few exceptions this decade and it crashed and burned. Breaking Bad and Mad Men both went well into the 2010s, so I think they kind of count for the culture of the decade.


  • KuleshovSequence [he/him]tomain*Permanently Deleted*
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    edit-2
    4 years ago

    No, not really. She's always been a weird indie artist with an interest in Eastern culture and sci-fi shit.

    In 2015, she released Art Angels. The art that came with that album is this: Art

    The most surprising part of this interview would probably have been that Grimes was a mom.


  • Goodfellas is a solid entry point. More entertaining and fast-paced than Godfather, and doesn't take nearly as long to watch. Focuses on a character who is attempting to rise through the ranks of the mob. Has a decent argument to being the best mob movie of all time.

    The other major mob film (or films really) is Godfather 1 & 2. They're broader in scope and incredibly well made with a top tier cast. These movies cover a longer time period (telling the stories of both Vito and Michael Corleone) and focus on the top leaders of the mafia. More deliberately paced, which is why I would recommend Goodfellas first. Personally, I prefer Godfather to Goodfellas, but they're both amazing films.

    The Sopranos is also top tier mafia media, but its also a 6 season TV show, so it is a much larger commitment. That said, its runtime does allow it to study the lives of mafia members and those around them in much greater depth. Certainly worth seeing if you have any interest in the genre. Plus it's one of the best television shows in general.

    Scorsese made a bunch of other gangster movies, all of which are worth seeing: Mean Streets, The Irishman, Casino, The Departed