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By Michelai Graham
Boardroom's Tech Reporter
June 25, 2023

Boardroom Tech Talk: ‘Dumb Money’ Chronicles the GameStop Short Squeeze

In the latest edition of the Boardroom Tech Talk newsletter, Michelai Graham also discusses Marvel’s AI backlash, Nike’s new Fortnite destination, and more.

Here’s a snippet of this week’s edition of Boardroom Tech Talk. This isn’t the entire newsletter, so if you don’t want to miss out on the full letter in your inbox every Sunday at 1 pm ET, then subscribe today.

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How Dumb Money Chronicles the GameStop Short Squeeze

Reddit has been in the news more often recently, and maybe it’s part of this master plan to push Dumb Money, an upcoming film that tells the story of the GameStop short squeeze in January 2021. The historic meme stock event was led by the popular Reddit community and amateur investment group, WallStreetBets, which learned about hedge fund short sellers in the video game retailer. After reporting it, retail traders drove GameStop’s stock up as much as 134%. 

Seth Rogan, America Ferrera, Pete Davidson, Shailene Woodley, Vincent D’Onofrio, and Paul Dano are some of the notable cast members we can expect to see in the film, which is officially based on Ben Mezrich’s book, The Antisocial Network. He also wrote The Accidental Billionaire, which was later adapted into The Social Network movie. 

Dumb Money will hit theaters on Sept. 22, and the trailer looks pretty damn good. 

THIS WEEK IN TECH

Why Are Fans Mad at Marvel Right Now? 

Marvel fans are upset with the comic book publisher after it used artificial intelligence in its newest Marvel Cinematic Universe show, Secret Invasion. The series debuted on Disney Plus on Wednesday with an AI-powered opening credit designed by Method Studios. Director Ali Selim said he used AI because he thinks the tech fits into the show’s themes, while the audience presumed AI canceled the need for graphic designers and animators who typically take on this job. 

Both sides raise valid points, and now I wonder what other plans Marvel has for AI during a time when the WGA is currently on strike. 

Amazon’s New Legal Troubles  

Amazon has some legal affairs to handle before we can all indulge in Prime Day in a few weeks. First, the Federal Trade Commission hit the online retailer with a lawsuit, alleging that Amazon purposely tricks customers when they sign up or try to cancel Prime subscriptions. The FTC is accusing Amazon of using deceptive design tactics to encourage customers to enroll in Prime without their consent. 

Secondl Bernie Sanders sent Amazon CEO Andy Jassy a 10-page letter informing the company’s leader that he’ll be investigating Amazon’s labor practices and warehouse working conditions. Sanders said he’d subpoena Amazon if need be. In response, the online retailer has invited the senator to tour facilities in person. 

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