Technology changes the way people live. The events of the Gamestop and WallStreetsBets is a good example of changes in which people live in the 21st century due to technology and new platforms. Though some things never change, individual actions, information distribution, and rules and policies are a few key themes that have changed or may be changed after the events of the week 25 January 2021.
Although there have been many changes with individual behaviors in regards to new technology and platforms prior, the events that took place highlight their importance. Platforms such as Reddit, Robinhood, Discord, and Twitter make it possible for individuals to have a dialog where they otherwise wouldn't. People with large followings on social media and the use of online communities enable individuals to communicate with more people on a larger scale. Elon Musk in this incase had influence on the actions of the GameStonk events by using Twitter. The community on Reddit holds shared responsibility as well. Individual’s actions may hold more value than ever before by their outreach that technology has afforded. In addition, individuals who use these technologies and platforms are valuable in other ways by creating data that is then sold, like Robinhood has done in this scenario. By using the applications the individuals data become the product, and there is more information out there to inform business. This connects to other changes technology enables such as information distribution.
Though the use of technology has changed our lives in many ways, a huge one is how information is distributed at large. Social platforms along with media are tools that can be used to inform the world about what’s happening. As mentioned, individuals are able to communicate at a different scale than ever before. In addition, data and information gathering and sharing is at an all time high. With this change there has been a concern for bias, censorship, transparency, and methods regarding obtaining information. For example, in this particular case it has been reported that thousands of negative reviews toward Robinhood were removed. Concerns such as these may cause changes in our policies and rules of how we use technology.
Lastly, technology has led to changes in our behavior which influences policies and regulations made. The GameStop situation sparked a concern for the power of technology and information on both a business level and individual. Though people may play by the rules others may get screwed. Concerns of fairness and business practices are two that need to be evaluated as a result of people’s behavior stemming from advances in technology and their use.
Although there are common behavior themes throughout history, the implantation of technology changes individual actions, information distribution, and policies. As technology progresses in the future it may be best to consider policies and regulations before an event gets too out of hand. Additionally, it may be worthwhile to reflect on our values and principles that we want to remain constant in an ever changing world of new technology.