Exactly. My friend made about 10K off of $200 in GameStop calls. He got the advice from his buddy who is a WSBs junkie. That buddy is also bankrupt and his only source of income is WSB. I cant image what his taxes will look like this year.

Its fun to watch but like most of high risk high reward activities you will likely lose or get lucky and then lose when you try to repeat that luck.

There is just one key insight: it’s gambling. It’s like buying a lottery ticket or betting that the outsider team will win the league.

With that mindset you are pretty safe. You don’t “invest” in lottery tickets. It’s entertainment with money you can afford to lose.

I hope that’s the case for each and every person who bought this stock.

I see the stock market in general as a lottery. Or a mix of a lottery and a bit of ponzi scheme, but the lottery has a positive expectation value, unlike real lotteries. And the ponzi scheme still has some real value behind it.

The WSB bet is extremely risky of course, but there's absolutely a chance that it will pay off enormously. How big that chance is, I couldn't begin to estimate.

From what I've seen, the people who are getting in late know very well that they're likely to lose money, but they're fine with that if they get to stick it to the hedge funds.

It's actually more dangerous if they don't get burned. Then they think they can get away with their gamble again, but they put even more money in next time.