[ptd]

Justin Kan, founder of Twitch and Atrium(net worth over 9 figures) tweeted that he got a tip that Citadel(the company that executes trades for Robin Hood) reloaded their shorts before they told Robinhood to stop allowing users to buy GME.

If you think Kan is a conspiracy theorist making baseless accusations, we see the world very differently. Which is fine. Diversity of thought is always welcomed in my opinion. But I am curious how you can have that opinion. It seems so clear to me, so I'm a bit confused as to how someone can hold the oppsite view.

https://twitter.com/justinkan/status/1354853920762253315?s=2...

[paxys]

If there's no evidence backing it then it is a conspiracy theory, whether coming from an anonymous Reddit post or from a billionaire's Tweet. I don't know Justin Kan's background but he could very well have his own angle behind all this, or just faulty information. And even if he is correct, he is saying something very different from the post I mentioned.

[ptd]

It seems clear to me that you don't become a billionaire by leaving evidence of your ill acts. Certainly not when the spotlight of the entire country is on you. If you don't mind me asking, do you interface with these kind of people? I don't and I'm wondering if you have some kind of insight I'm missing.

[jsjohnst]

> If you don't mind me asking, do you interface with these kind of people?

Yes, I do, multiple people in fact (which I refuse to name drop). That’s why I replied to you the way I did in my other sibling comment. Him tweeting it means somebody told him, and likely he trusts that person. Billionaires are humans like anyone else, they sometimes trust the wrong people. They can also fall victim to “hearing what they want to hear”. They also have a lot of folks who want to win favor with them and thus will intentionally or unintentionally take information out of context and oversell it as something it isn’t. The ultimate point is that thinking a billionaire won’t possibly be misled/deceived themselves and then share wrong info (Elon Musk has had this happen a few times as an example, but he’s far from alone), or won’t deceive others for their benefit (there’s a “household name” in the US that immediately comes to mind as an example, leave it to you to decide who I mean), just seems naive to me.

[ptd]

Thank you for sharing your experience in such a thorough manner. Makes sense to me, and I agree.

I was definitely assigning him some kind of value that he may or may not have based on his success. Thanks for pointing out this flaw in my train of thought.

Have a wonderful day!

[jsjohnst]

> I was definitely assigning him some kind of value that he may or may not have based on his success.

Which is definitely reasonable, but my point was that doesn’t necessarily lead to the conclusion you assumed. Hope I’ve helped, but either way, have a wonderful day yourself!

[ptd]

Yep. I’m bagging what you’re raking.

[UncleMeat]

Donald Trump is a billionaire. It is also plainly clear that he has conspiratorial thinking and is often fooled by completely incorrect information. Somebody being a successful tech entrepreneur has almost nothing to do with being able to develop deep understanding of rapidly changing situations off third hand evidence.

[jsjohnst]

> Justin Kan, founder of Twitch and Atrium(net worth over 9 figures) tweeted that he got a tip that Citadel

So rich people are never lied to by people they trust? I get it, you trust him, but thinking just because he “has a source” saying it doesn’t automatically makes it factually correct. Maybe it is, but appeals to authority and essentially calling anyone who disbelieves crazy doesn’t compute for me.

[snowwrestler]

I would believe Justin got that tip but that does not mean it was true.

It doesn't even make a lot of sense as the part of Citadel that executes trades cannot talk to the part of Citadel that takes short positions, and vice versa.

[ptd]

You really believe that the departments don't communicate? Once again, finding out that a lot of people see the world very differently than me. Why don't you think they communicate? It seems so clear to me that the departments work in cohort behind closed doors.

[jsjohnst]

> Why don't you think they communicate?

Probably because it’s the law that there’s barriers put in place, that’s why? Like some communication will inevitably happen, but there are compliance teams who’s job it is to ensure it’s at a minimum.

[ptd]

In my mind I was assuming that there is some communication between the two groups. Not at work, and definitely not where you can be overheard, but it just seems crazy to me that they don’t talk at all. But I’ve never been in a position to actually know, im just assuming.

[jsjohnst]

I’m sure there is some friendly banter, but I also assume they’d not risk it. Compliance in this context would be very invasive to an average person not in the field, like monitoring your communications, social media, call logs, etc, so I’m not sure they’d risk just casual banter of prohibited topics.

[myrandomcomment]

So I am going to play a TRUMP card here on billionaires pushing conspiracy theories.

Thank you, I will be here all day.