WallStreetBets...Chamath Palihapitiya Has Your Back

Yesterday, I watched an amazing interview on CNBC between Fast Money's Scott Wapner and Chamath Palihapitiya. Chamath is a billionaire who understands how these people on Wallstreet operate and has developed a heart for the little guy. Scott tried to put Chamath on the spot several times, but Chamath not only held his own, but I think gained addition fans as a result of this interview.

Chamath points out in the interview, that technology has level the playing field and the little guy has as much computing power has the hedge funds. Chamath felt that the little guy found a way to exploit the system, just like the big boys have been doing for years and the little guy is not at fault it's the system. For example, how can stock be over 100% short.

NOTE: According to Investopedia, short selling occurs when an investor borrows a security and sells it on the open market, planning to buy it back later for less money. Short sellers bet on, and profit from, a drop in a security's price.

In the case of GameStop, the stock was borrowed from one broker, then those stocks that were shorted were shorted again at another broker. It was OK for the big boys to take advantage, but when the little guy flipped the rules it became a probably.

Chamath also said we need to recognize the savviness of the little guy because they were right on Tesla and Bitcoin.

He also said that what we are witnessing stems from the Great Recession. While banks were being bailed out, the little guy got the short end of the stick. Chamath was referring to little guy owning financial stocks during the financial crisis, while the banks were bailed out by the government.

This is a great interview for those that have time to watch it.