Umair Haque drops the best explanation of the GameStop/Reddit situation. You don't need to know anything else.
Who creates bubbles? Wall St. does. What is happening here is that Americans are celebrating average people learning to behave like hedge fund managers. Pumping and dumping stocks on their neighbours. Those are the values of predatory capitalism: eff you, I got mine, the only way to make a living is to exploit someone else, the weak perish and the strong survive. Is that really something to celebrate? I don’t think so.
Audre Lorde once said, “the master’s tools will never dismantle the master’s house.” And that is eminently true here. This isn’t some kind of victory against capitalism. It’s average Americans treating each other like Wall St treats them — and everyone celebrating it thoughtlessly, because America is too conditioned and brainwashed to understand how toxic that really is, to ever really question the idea that maybe we should not have to exploit each other in order to live.