[OPLIN 4cast] OPLIN 4Cast #736: When tech and finance intersect, will controversy always follow?

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OPLIN 4Cast #736: When tech and finance intersect, will controversy always
follow?
February 3rd, 2021

[image: Stock market screen] It was a joke
<https://twitter.com/KevinFarzad/status/1354554496169299970> that first
grabbed my attention: "I know this GameStop stuff is funny, but you have to
remember this is hurting real people who own multiple boats." But what
exactly is "short selling?" How does a Reddit group, a commission-free
stock trading app, and Game Stop suddenly take over the news about
technology and finance? What does this imply about the near-term future of
fintech <https://www.investopedia.com/terms/f/fintech.asp>?



   -
   - Confused about this GameStop saga? Here are the 5 things you need to
   know
   <https://www.cnn.com/2021/01/30/business/gamestop-reddit-rebellion-explained/index.html>
   [*CNN Business*] "It's a David vs Goliath story. At the heart of the
   GameStop saga is a struggle between two drastically different groups of
   investors: A band of amateur day traders versus a bunch of Wall Street pros
   known as short-sellers."
   - The ‘Roaring Kitty’ Rally: How a Reddit User and His Friends Roiled
   the Markets
   <https://www.nytimes.com/2021/01/29/technology/roaring-kitty-reddit-gamestop-markets.html>
   [*New York Times*] "Their show of force this week underlines how the
   financial markets have changed by merging with the world of social media
   and a younger generation of traders who have been empowered by online
   platforms."
   - Robinhood is a perfect example of fintech's insidious power
   <https://theintercept.com/2021/01/31/fintech-biden-nominees-robinhood/>
[*The
   Intercept_*] "Fintech is neither inherently good nor bad; rather, like
   any technology, its potential impact on society is closely tied to the
   policy decisions guiding its use — and the next four years could define how
   much the fintech industry is able to shape the financial system. Left to
   their own devices, fintech firms could swindle average people through
   ill-advised day-trading or high-interest loans, usher new systemic risks
   into the financial system, and develop traceable, privately owned
   currencies with the potential to replace cash."
   - GameStop short squeeze fuels new stock-market services tracking Reddit
   messages
   <https://www.marketwatch.com/story/gamestop-short-squeeze-fuels-new-stock-market-services-tracking-reddit-messages-11612203740>
   [*MarketWatch*] "A group of data providers are wagering that financial
   markets will never be the same again and that deep-pocketed investors will
   shell out big bucks to monitor discussions on message boards like Reddit’s
   r/wallstreetbets and social-media platforms like Discord for mentions of
   publicly traded companies."

*From the Ohio Web Library <http://ohioweblibrary.org>:*

   - Alix, Laura. “Fifth Third CEO ‘Very Concerned’ about Fintechs
   <https://search-ebscohost-com.proxy.oplin.org/login.aspx?direct=true&db=buh&AN=148272628&site=bsi-live>
   .” *American Banker*, vol. 186, no. 15, Jan. 2021, pp. 6–7.
   - Davidson, Jacob. “Inside the Internet’s Wildest Investing Forum
   <http://search.ebscohost.com.proxy.oplin.org/login.aspx?direct=true&db=f5h&AN=132420086>
   .” *Money*, vol. 47, no. 9, Nov. 2018, pp. 28–31.
   - Lotus, Jean. “Robinhood to Lift Trading Restrictions after Raising $1
   Billion from Investors
   <http://search.ebscohost.com.proxy.oplin.org/login.aspx?direct=true&db=cmh&AN=B92W3137561348>
   .” *UPI Top News*, Jan. 2021.

------------------------------
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