The Internet/WallStreetBets vs Power/Powerful

We live in an interesting time. The following article is not a statement on politics. It’s more of a reflection of where things are today in technology, media, power and influence. For the first time, we are seeing the Internet organize in a new way to change the status quo. No matter what opinion you have on the US Capitol Insurrection you have to realize how quickly big tech, big media organized to put that movement down. A combination between Hollywood, Mainstream Media and Big Tech got together quickly to start a rebellion. To some people that represents a very scary future if not put in check. No one believes that the Internet should be used to organize terrorism, violence, racism or anything that takes humanity backwards. That said, who gets to decide the rules of that game? How will they guarantee that it’s fair and not influencing society to one point of view or political party. Power got together and shut down payment gateways, hosting/cloud providers, app stores and more. A company like Parler was turned to dust within hours. That was true power exercised right before your eyes.

The main issue I see is that Google, Facebook, Amazon and a few others control too much of the playing field. Any new service that grows to millions of users will be faced with the question of hosting and the cloud. These applications need a place to live and serve the millions of users that want it. Unless you have the money to invest in a DevOps team and buy millions of dollars in hardware, you are left with ONE route. That route is using Amazon Web Services (AWS), Google Cloud, Microsoft Azure or a few others up and coming. The reason this is terrifying is because the waves of websites the Internet surfs on will be owned by Google Cloud and AWS. In fact, the entire ocean is on the path to that reality. When you throw in the app stores of Google Play and the Apple App Store, too much is controlled by too little.

Moving on to our latest example of this. The WallStreetBets Reddit Rebellion caught fire Monday, Jan 25th 2021. The entire thing was started on a forum on Reddit’s WallStreetBets and then extended to it’s very popular Discord chat. For days retail traders used group think to organize a explosion of buying Wall Street has never seen. The media picked up on it and fear of missing out brought everyone into the game. Is Gamestop worth $300 a share? It depends on who you ask 🙂 But if I asked Warren Buffett I am sure he would laugh me out of the room. However, who should get to decide what millions of maniacs decide to do with their money. Anyone old enough to open a brokerage account is old enough to understand what they are doing. If they can get into a casino they know they can lose all of their money. If there go into the stock market the same thing can happen. For the wall street establishment to say “ohh poor retail investor. we need to stop this!” is bullshit. Wall Street billionaires NEVER cared about the regular average retail investors.

Bottom line, if the Internet decided to get together and organize a massive purchase of dog shit stocks, they should be allowed to do it! If hedge funds suffer as a result, that’s the same risk we all assume when we enter the market.

As I write this, news has just broke that Discord shut down the WallStreetBets chatroom and Reddit shutdown Wall Street Bets. This is another example of an Internet Army being shut downw within a few weeks. Again, let’s forget right from wrong for a moment, put politics aside, and focus on what the Internet power is doing. They are choosing to stop what they disagree with.

This is what is created this behavior to begin with. People believing there is this secret group, the 1% or whatever you want to call them, in a room just finding ways to fuck us everyday. This is what started the Gamestop buy. Shutting it down will be what causes it to happen again.

But the point I am most interested to see is how the Internet adusts to the fact that their favorite apps and websites are powered by a few providers. Those providers can turn that power off at their choice.

Solution: Open source software changed the game for software. It leveled the playing field and prevented a few from monopolizing everything. Cloud and hosting needs busted up. We need more providers than AWS, Azure and Google Cloud. The Internet being the wild west is what makes it amazing. It’s what makes innovation happen and creates new things that ultimately are capable of improving our lives.

Big Tech needs to be busted up. It’s needs to be unbiased and not attached to a political party.

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