The Wall Street Journal has written an excellent profile of the man who started r/WallStreetBets, the subreddit that’s been embroiled in controversy this week. His name is Jaime Rogozinski, and if you’re wondering how he’s been feeling about this whole thing, he likens it to “watching one of those horror films where you can see the bad guy slowly going up the stairs.”
The article gives the impression that the subreddit, which is now trying to raise the price of GameStop stocks to the moon, wasn’t only created for profit — it was created for fun. Rogozinski was apparently bored with the usual stock market advice about just buying index funds and was looking for actual discussions about individual stocks. He also talks about how the community is “refreshing,” with posts ranging from “‘Look at my money!” to “Look at all this money I lost.”
“It’s no longer what it used to be.”
As many classic stories go, though, the creation ends up turning on the creator. Rogozinski is no longer a moderator for the subreddit; he was booted off last April after clashing with moderators that he said “were straight up white supremacists.” This is a problem, it seems, that the community has been dealing with for a while.
It’s an excellent story, and it gives great insight into what happens when a community becomes something its creator never intended and the fallout that can have on the creator’s life. If you’ve been following the story of WallStreetBets, it’s definitely worth a read.