Mark Cuban thinks Wall Street stands no chance against digital natives
Mark Cuban thinks Wall Street stands no gamble against digital natives
The entrepreneur says that old-schoolhouse investors are getting their "ass kicked" past the "Store of Value Generation."
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Entrepreneur and Dallas Mavericks owner Mark Cuban has weighed in on the recent disharmonism between Wall Street and the r/Wallstreetbets Reddit community.
In a Jan. 31 blog post, Cuban suggested that the erstwhile-school investment customs is currently taking a kicking from what he describes equally the "Store of Value Generation."
These millennials accept developed a greater understanding of the value of digital assets, having been brought upwards in a world where music was more often shared as a digital file than a physical object.
Blockchain technology, nonfungible tokens and smart contracts now allow any asset which can be represented digitally to act as a shop of value, with provable scarcity and without many of the downsides of physical collectibles:
"This generation knows that a smart contract and the digital good it reflects or a CryptoAsset are a better investment than one-time school come across, touch or feel uses."
Cuban goes on to bespeak out that a stock is just another digital store of value, and that the new generation has just found and taken reward of the inefficiencies in the legacy stock market system.
They take realized that past working together they minimize Wall Street's power, and exposed the hypocrisy of hedge funds and brokerages putting out purchase notes to millions of clients while crying foul when a subreddit does the same affair:
"Fat and happy Wall Street has become wearisome, stale and set in their ways, which makes them an easier than anyone would expect target."
This year, Cuban has come out as a bigger crypto follower than he has previously let on, even recently minting some limited edition NFTs on Rarible.
Source: https://cointelegraph.com/news/mark-cuban-thinks-wall-street-stands-no-chance-against-digital-natives
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