GameStop Manifesto: The Sad Hidden Truth
ฝัง
- เผยแพร่เมื่อ 8 ก.ค. 2024
- David vs Goliath? What really happened during the GameStop fiasco?
Destiny investigates the GameStop / Reddit versus stock market event that took the financial world by storm and the irresponsible reporting surrounding it...
Follow Destiny
►STREAM - www.destiny.gg/bigscreen
►DISCORD - discordapp.com/invite/destiny
►REDDIT - / destiny
►INSTAGRAM - / destiny
►MANIFESTO DOC
/ brainstop
Check Out My Amazon: www.amazon.com/shop/destiny
Buy My Merch: dggstore.com/
0:00 - Teaser/Intro
0:54 - Big short movie, arguing w/ chatters
9:01 - Preface
13:23 - Section I: Stocks 101
0:38:48 - Market manipulation
1:01:14 - Section II: The Events
1:12:44 - Section III: Misinformation
2:00:21 - Section IV: Responsibility in Reporting
2:04:01 - Q&A
Destiny initially faced a lot of backlash for pushing back against the trendy narrative. With this manifesto, he hopes to both educate his audience and bring them something helpful to push back against more popular but misleading narratives and other misinformation.
link to manifesto? I'd rather just read it.
@@josephk1342 I got you www.reddit.com/r/Destiny/comments/ln8z0x/brainstop/
@@destiny Thanks homie
This guy is the worst type of person
I appreciate you adding in the intro where Destiny talks about how he failed in his initial goal of recording every instance of public figures spreading misinformation. I jumped in late to the stream and was a little disappointed in how few links he had. It makes more sense now knowing how difficult it ended up being. It might have been helpful to send out the signal to his audience to clip any instance they saw and link it in his discord or something like that - it looks like someone did that on their own with Vaush's stream.
A dono during stream - " So when someone hugs Destiny, is it called a short squeeze?"
KEKW timestamp?
Here’s my like cuz I can’t ruin the 69
I don't normally laugh at short jokes but this one got me!
@@Smossicanz Don't worry bud I already ruined it for you.
username checks out
Wow, I watched the whole thing and I was completely bored. Thank you, Steven!
If you watch it on x2 speed it's like watching the big short while smoking crack cocaine.
he warned us lol
Same
th-cam.com/video/M_64tLVki9Y/w-d-xo.html&ab_channel=WaxCostanza
This is peak lefty youtube. Vaush says hi.
Destiny is the shortest seller.
lmao the comments to this video are among the funniest shit I've seen
gottem
🌈🐻
@@wehavebiscuits right behind pickle rick
Dentistry? That’s the treatment of diseases and other conditions that affect the teeth and gums
Oof, this one's good
Density? That's the mass of something divided by the volume
Hieronymus Bosch BEEEEEETA
Is this what "Manifesting Destiny" looks like?
Feel like he says some dorky shit like this in bed lol
I'm pretty sure it's just Manifestiny.
@@Magni87 Manifest Bestiny is
Manifesto Andy
oh god watching destiny at 2x while he watches clips at 2x ...
Too slow tbh
@Rosa Barks some people don't have much problem with understanding really fucking fast speaking. Some are slow (don't take it as something ableist, in this case I mean reaction time) and can't handle Destiny talking spead at his 1x. It depends.
@Rosa Barks there is a chance of that, but I'am not so sure.
Destiny: it's going to be boring
destiny fans: fuck it I have sat through an empty chair for hours this can't be worst
Twitch streamers and manifestos, name a better duo
Uncle Ted and the USPS
Teddy and Cancun teenagers
th-cam.com/video/M_64tLVki9Y/w-d-xo.html&ab_channel=WaxCostanza
My head and a wall
Peanut butter and Aids sandwiches..
As someone who initially bought into this narrative, I'm really thankful Destiny helped me not buy into this obvious pump and dump scheme. He saved me from losing a good 300$ I very desperately needed.
I lost $700 going against what Destiny said
If you don't make your own research you'll end up getting burned. Destiny does it and so did people that made money with GME. There was a time to get in and a time to get out and if you don't have any knowledge on this you shouldn't be trading in the first place.
The only thing i didn't like about the video was calling bullshit on stuff where there's no proof of both the fact that is claimed or against it.
@@omgg4031 It hasn't even been out long enough for you to finish it if you were watching at 2x speed.
so stocks is just a more complicated and confusing pyramid scam xD
@@omgg4031 true, I can claim anything unfalsifiable or not yet falsified and you cannot call bs because you havent falsified it 4head
Destiny: Remember - no bridge.
Just like that mission in Modern Warfare 5 Nebraska.
@@GKJusticar55 Postmodern Warfare
i still dont know anything about stocks but i do know that i was right all along and thats all that matters
no ur wrong lol how can u even say u r right
@@jonteSUPERcodMASTER your mom
@@tophatv2902 no u
wow so brave to baselessly go against popular opinion and then be proud of urself when it happens to be correct
@@khalas5668 yes and i love black people. deal with it 😎😎
half the manifesto is a dictionary that's how uninformed people are on this topic, very sad to see
It's not even bad that people are uninformed on this. I barely understood anything, it's just that big content creators are soooo uninformed while making outlandish claims.
Nah, it’s completely appropriate.
the average viewer was not in on GME and does not have alot of knowledge on finance. The dictionary was necessary for these viewers lol
That was important tbh
Good explanations start with clear definitions
Just how I like me manifestos served.. Right in my feeeeeeed
You know you're in for something special when the title says "Anything" Manifesto: Title.
sociopathstiny
Thanks for this. I know 99% of people have moved on but doing postmortems is important because it can save people from being fucked on the next go around. Buying into conspiratorial thinking is often a self fulfilling prophecy because it makes you make irrational decisions.
His name is Destiny? B- But destiny is
CALLING ME TO OPEN UP MY EAGER EYES
he's coming out of his cage and he's been doing just fine
It was only a kiss... It was only a kiss!
CUZ IM MR BRIGHTSIDE
This song is unbelievably popular in the UK
@@estradiolvalerate8925 CUZ IM MR MOOOOOUTON
In my heart my salary should be 300K a year. On paper it might not be, but in my heart it is.
Ditto
I support you
@@leroture7750 Thank you, I'll let my manager know.
Destiny? That's a based economists name
you were raised by Venture Capitalist and a Radical Communist?
Its a womans name
@@jimmypineapple8640 do you love black people?
BeTA name
Destiny is great, but he's not even close to a trained economist
Better title: “BrainStop: the GME Manifesto”
I feel asleep during this self debate
Well this aged like milk LMFAO
Its been a good week with a lot of content, thx editor
This woman made great points
*girl
Desk tiny vs Pop Ulism
Imagine thinking a disruptive tech CEO is a “good faith actor”
Good point. There should be no new companies or products ever.
Thank you Destiny for educating the mass. Also you're right about influencers really need to understand what they're talking about before going live. It's nothing but continuous misinformation.
The big short was a dope movie. I watched it while we were broke down on a road trip
Thank you for actually explaining the details. So much misinformation with the GME situation but you covered most of it with sources. Appreciate it!
I agree with Destiny on pmuch everything, but his characterisation of millionaire public figures as also big guys compared to billionaire hedge funds and the entire mainstream media apparatus is a bit of a miss. I mean they definitely behaved irresponsibly, but I don’t think their behaviour is really equivalent.
You're not talking about Musk and Cuban, right?
He's not comparing them to hedge funds. He's comparing them to people of similar influence and reach like news reporters.
Only main problem i have in the logic is he says that retail traders don’t have enough power to actually move the market but then says the reddit mods were guilty of market manipulation for misleading redditors but if they are not powerful enough to even move the market how would that manipulate anything?
you literally just said it yourself: they mislead redditors. you don't need to move the market for that (actually that would be the misleading part)
So the manifesto was great. Its reaffirmed what i already knew which was not to trust any online pundits/streamers when it comes to money/economics. But minor nit-pick 'Large creators with millions of followers including Vaush' In what world does Vaush have millions of followers? Or even the Stockguy?
Why not just stick with 'large creators'?
Yeah it feels weird we can't trust anyone actually
@@sohspm3576 No dont trust them either. Read a few books, do some independent research outside of listening to pundits, talk to qualified accountants, avoid investing anything more than you can afford or are willing to lose.
Frankly mistrust where money and financial decisions are concerned is the better policy.
@@Jojo-bl1pm I wouldnt necessarily say that, but i would say where money (in particular your money/investments) is concerned i would say mistrust is the better course of action.
@@sohspm3576 Oh no regulation is important and Wallstreet are bastards.
Can't wait for Vaush's video where he copies Destiny's explanation.
And then Pigpuncher's carbon-copy of Vaush's video will come out half a day afterwards xD
Those socialistes are so laaaaaaaazy
@@halfbloodprincess989 I'm a socialist but I agree that Pigpuncher is very cringe, and often wrong. Still happy he's not alt right anymore though
At least the people in his community who dont watch Destiny will get the info some way
Vaush already did a video correcting his misinformation and talking to ragepope.
@@wehavebiscuits actually his name is xanderhal now lol, but yeah I agree, to me he tries way too hard to act like vaush and it kind of pits me off from watching his videos at times
Holy fucking shit I had no idea Mark fucking Cuban was on reddit telling poor people to hold. How fucking insane.
thank you so much for this, there is a dire need for this type of content in general
LETS GOOOOOO I've been waiting for this!
the shorts did not cover, 200% of the float was owned and shorted. PFOF and front running are not the same however PFOF makes front running easy, HFT MM like citadel do this and things like latency arbitrage all the time. The squeeze wasnt a squeeze, it was due to large share purchases on an illiquid stock by RC causing options to run in the money. Shorts still havent covered and the day will come when gamestop goes crazy. An nft/crypto dividend will surely put this to bed.
"Shorts still havent covered and the day will come when gamestop goes crazy."
Yawn. We will be hearing this every year for the rest of our lives.
my friend asked me this: Collateral does not apply to the ownership buying/selling of stocks, not for straight forward buying and selling. why was all trading of stock affected on robinhood not just those trading on margin?
Is it the case that Robinhood were not able to stop only the margin accounts from opeing new positions. So had to stop the opeing of new positions for both margin and cash accounts?
When you purchase a stock through a broker. That broker uses a clearinghouse to buy the stock. That broker has collateral with the clearinghouse. When the volatility of a stock increases the collateral requirements increase. Robinhood's clearinghouse required more collateral from them to secure the trades in those volatile stocks.
@@Ryan-on9ne But if i purchase the stock not on margin then why would the transaction require collateral as i'm purchasing the stock in full so there would be no risk to either party? could it be that robinhood leverages the cash accounts and margin accounts?
I can already taste the tears...
That would be the mountain dew.
I'm 15 minutes in and I know he said this wasn't going to be exciting 10 times already but I'm still holding out. One might say that I have "diamond hands".
HYPE GONE TO THE MOON 🚀🚀🚀🌙
I think errors were strategically placed in this document for comic relief.
37 min and 23 sec in, and i disagree with Destiny. It's not boring, it is a little bit challenging, if you're not familiar, but not boring.
not boring if you play the drinking game
DESTINY?? thats a hedgefund's name!
How many comments you making bro?
@@whaleboy2287 hakuna matata tumhay pagal kuttay nay kaata
I feel like I already knew all of this from playing RuneScape.
This was actually super informative. Thanks, daddy Destiny!
You would never exercise an ITM option before expiration unless it was to collect a dividend, because you would give up the extrinsic value.
You would sell the option for a profit on the extrinsic value of the option, and ALSO get the intrinsic value you’d get from exercising and selling
Waiting for this one. Thanks for the hard work.
Thanks for putting this together!
When I was in private equities, they told me that the NASD (typically) was the private body of regulation prior to the consolidate FINRA. I also seem to remember the licensing could vary a bit state to state, so in order to sell securities, I needed a Series 63 and Series 7 (Federal SEC license) to sell private equity, and had to pay to get a 63 (FINRA) in each state I wanted to do business in. Memory is foggy but I'm fairly sure it's the same with the 6 and 7? Can anyone else corroborate or correct?
When people tell other people to buy and hold that where I draw the line, except if it would be to have some kind of power on a company board or somesuch.
Nice write up, the issue was any valid questions that went against the narrative were ignored or if on reddit downvoted. I was trying to make a lot of your points weeks ago and it was almost always downvoted. It has been a frustrating few weeks.
Also anyone questioning the ethics of shorting, please watch Betting on Zero, Herbalife survived Ackmans shorting.
Amazing work as usual
Play stupid games, win stupid prizes. I don't feel sorry for any of these idiots that got swindled.
Been waiting for this.
If anyones an authority on everything short, its Destiny
Its not complicated. Robinhood had liquidity issues. But nobody prepares to get hit by a lightning. Its like when websites go down in huge traffic. It is not profitable or sustainable to always prepare for the worst.
Big respect for Destiny for this.
Boy this is gonna be good
Thanks Steven! I'll use this video to help me fall asleep at night for the next few weeks!!
is the movie talk at the beginning just to build tension or what
Pretty sure he was just talking with chat
Destiny, please watch The Big Short in full, it’s great.
Great Video! Very helpful!
How he was 100% wrong lmao
I pressed the left arrow more during this video than in any Need for speed game.
With this and my 4th viewing of The Big Short, I'm ready to take on wallstreet
DGG 4 LYFE 😎🤙🏻
It’s ‘strike price’ for puts and calls
Good stuff
Destiny is actually a really great teacher
How do you know? He is not a subject matter expert on anything other than streaming and has a pretty good background in politics and ethics. Outside those, he is just telling you what he found after a brief internet search. This is something you could do and could also come to the same initial conclusions. To be a good teacher, you should also have taken the extensive time to challenge all your theories to see if they can stand credibility but this doesn't happen. As he said, he is strapped for time. So you can't walk away from this feeling you are not very educated as it is basically a summary of google searches. If he was teaching you debating, ethics, how to stream, or something he is very knowledgeable on, then I would agree with you as he does have the skill set to explain those subjects. But, I would argue that you cannot use this brief research paper, which has not been self-scrutinized thoroughly, as evidence of how good he is at teaching. I guess you could be right that he is constantly good at getting others to see things the way he does, but if he is wrong on something, I would argue that would still make him a bad teacher, though a good explainer.
@@wvance0316 do u think elementrary school teachers arent teachers then???
His diagrams are dogshit
@@K_Shawn_Webb @William Vance Yeah, Kishon. I can't agree at all with Bill's definition of teaching. By my definition of teaching, you could be a great teacher with even NO KNOWLEDGE on the subject matter. As long as there is access to the relevant knowledge.
To me "teaching" is creating an environment, to the best of your abilities, that let's a student learn the subject matter. So a teacher has to know and understand LEARNING to be a great teacher.
I'd say this opinion is founded on my view that there is no "teaching", only learning. That to me, some people think teaching means transferring ones knowledge and understanding directly from their mind into others. Which is pure science fiction. Rather that teaching is leading the horse to water. But you can't make it drink.
In that sense I'd say that a great student needs no teacher. Only access to the information. A teacher could accelerate their learning though.
Meanwhile a horrible student (pretty much unmotivated/uninterested/antagonistic) could learn absolutely nothing, no matter how great a teacher they have.
@@K_Shawn_Webb Do you think elementary teachers teach things they are not knowledgeable about. I'd imagine elementary school subjects can be correctly taught by any teacher of any grade. But would you ask them to give you an detailed explanation of the stock market and how it works? Probably not, since it's a much harder a niche subject matter. So I rest my case.
Can't wait for the follow up
Good work 👍🏻
might want to re-read the paragraph on the market maker.
if the bid-ask is 10/11, the market maker would pay 11 and sell for 10, thus lose money on both ends of the transaction?
Been waiting for this. With the bipartisan hatred of wall street, I never felt like it was ever possible to hear the truth about what happened here.
At the end of this 2 and a half hours I'm sure I still won't understand.
Dreeeew
Nice video about the Grand Exchange in Old School Runescape.
I was thinking just this
I feel informed now, thanks D
1:00:35 "The word 'spreadsheet' came from 'spread' in its sense of a newspaper or magazine item (text or graphics) that covers two facing pages, extending across the centerfold and treating the two pages as one large page."
" jim its discord, you gotta shut this down, they're burying us out there"
Accuses mods of a public forum of market manipulation by "curating misinformation". But previously said gme price movements were not dictated by retail investors. And high volume short selling is not market manipulation? Lol ok dude. I understand calling out people spreading misinformation, but destiny is just as guilty. Dpak had the right take on this.
How the fuck would those price movements be dictated by retailers when most of the shares are owned by funds??
@@AnimeFan9833 he's accusing people of market manipulation by curating misinformation given to retail investors... But also saying the price was not driven up by retail investors? Which is it?
Bought in at 39 up 6K , this video is actually very informative though! Take your time and look through information before just tossing money around, not financial advice!
YES I'VE BEEN WAITING FOR THIS FOREVER.
I can't wait to hear how the plot of the popular online-only multiplayer first-person shooter video game set in a "mythic science fiction" world incorporates gamestop stock into its plot.
Should be interesting watching again after learning about options
My time spent at the Grand Exchange finally comes in useful
DONT LISTEN TO SMART MAN AND BIG WORDS! EAT YOUR CRAYONS AND BUY GME! COULD HAVE MADE SOME MONEY FROM THE DIP IF YOU ALL DIDNT TREAT THIS DUDE LIKE HES YOUR DAD OR SOMETHING
I love the Jazz version of snake eater playing around the 4 minute mark.
fitting intro song,
Are you telling me I can't trust media narratives?
Well the msm got it right kinda. It was independent media (tim pool/kulinsky/enjeti) that got it wrong
I think it's best practice to take everything you read or hear with a grain of salt, no matter where you're hearing it from. Because there's a person behind every piece of news, and people are known to be flawed.
Nyt and Wapo are good most of the time.
@@WanderTheNomad this is why editors exist.
@@drunkslav7280 If those editors are people, then there's also a chance of them making mistakes.
How short interest can be over 100% is really not that hard to understand. It's just like fractional reserve banking.
Yoooo never been this fast!
hopping back on the stream tho
LOL, I knew that initial description of buying options was gonna come up again (Wording was a little funny). Destiny, I worked as a financial adviser for a decade and you did an outstanding job on all this. TBH, I am not sure I would have the patience to lay all this out in such an easily digestible way. I am impressed, for real.... it took me years to get a handle on all this information.
Basic options stuff is pretty straight-forward but holy shit, that stuff can get confusing. Things like straddle trades (Short straddles, long straddles). I prayed that my Series 7 exam would not have a lot of questions on that.
nothin like waking up to a new destiny manifestooo
THANK YOU DESTINY
I feel had destiny watched the big short prior to this it would have hit a bit harder
Holy shit finally it is here
IN. MY. FEEEEED.
What’s the opposite end for market makers??
my man is listening to post trane in the back, what a king
The big short is actually an amazing film.
With all of the time put into this, it seems worth actually presenting everything that was put together rather than picking just a few. At times the reiteration can feel redundant, but I feel that in this case it would better illuminate how widespread and problematic misinformation can be.
Hey does anyone know the artist/album playing between like 5:00-8:30?
I know he said it was going to be boring but honestly some of his best work
My video about this (on the 28th) calling out this scam caused a lot of controversy. I still think payment for orderflow could *easily* be used to front-run trades without regulators finding out. I'd like to discuss it with Destiny.
It could be used to frontrun trades, but there's no evidence that this has happened with RH/GME. PFOF and frontrunning are two totally distinct activities.
2:20:44 - 2:21:21 Yes making Money on the way down from the squeeze, very good vid and manifesto
good video