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The wealth gap in the US has never been bigger. The gap between the richest and the poorest families more than doubled from 1989 to 2016, and COVID-19 has widened that gap further.
Last week’s events with GameStop play a part in a broader narrative of tension between the general public and the wealthy, specifically one between the everyday investor and the financial institutions that are still mistrusted after the 2008 crisis. But the dynamics of power in that narrative are shifting.
In 2020, a record 10 million+ new brokerage accounts were opened. More people are investing than ever before, and last week the crowd demonstrated its growing power in the market by driving GameStop’s share price up by over 1,600% in the month of January, causing some hedge funds to lose billions in the process.
In the words of StartEngine Crowdfunding Inc.’s Strategic Advisor Kevin O’Leary, “this is the democratization of the stock market…the power of the little guy has been proven, and the way you prove power on Wall Street is money.”
Times are changing, and we all have a role to play in that democratization. At StartEngine, we have created a platform where entrepreneurs from every background can tell their stories and pitch their ideas to you.
Our platform is open to everyone. Startup investing is no longer gated behind the doors of angel and venture capital communities. We are democratizing access to investment opportunities, and that is StartEngine’s role to play.
As an investor, your role is to shape the future. You get to help decide which ideas will become the great businesses of tomorrow when you decide to invest. That power is in your hands.
And together, we can close the wealth gap and create more opportunity for everyone.
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