Vlad the Impaler might have had the unmitigated balls to look the country in the webcam eye and fix his mouth around the words, “Of course Robinhood stands for everyday investors. From the very beginning we have stood for investors opening up access.” But leave it to Mark Cuban to cut through the self-serving, disingenuous bullshit and explain what's really going on here.
The internet was leveling the playing field. In very much the same way that it enabled sites like ours to rise above the stranglehold that the old media had on information and entertainment, Wall Street Bets is making investing, to use a phrase, By the Common Man, for the Common Man. Or, as Cuban puts it, "giving the little guy an edge." In the case of his 11-year-old son, quite literally "the little guy." Even if The Baby Shark is getting his info off of Tik Tok, it's the same principle at work. The career investors don't understand the new media, can't adapt to the new power dynamic, so their knee jerk response is to react the way the bourgeoisie has always done when the proletariat starts gaining some control: Demand the competition be shut down. To re-unlevel the playing field.
Cuban is a guy who gets it. A self made multi-billionaire who hasn't forgotten where he came from and is pulling for others to make it like he has. They came after Cuban the Younger's allowance money, and now he wants these kleptocrats brought to justice. Damn, would I love to go on a fishing trip with The Cubes.