As many are aware, the SEC recently published Incoming No-Action Requests Under Exchange Act Rule 14a-8, and there were several shareholder proposals submitted by GME shareholders that were rejected by the company that were published there.
There have already been a few discussions of these proposals on Reddit and on X and on Discord at least.
Some of the discussions about the rejected proposals have been nothing but negative and cynical and even disparaging towards those shareholders that submitted proposals.
So I just wanted to make this post to express some gratitude towards those shareholders that submitted a proposal, despite that GameStop rejected them.
It's really easy to criticize. It's very easy to sit behind a keyboard and put other people down while otherwise contributing nothing. It takes almost no effort to do this.
It's hard to build things, it's much easier to destroy things.
Those shareholders that submitted proposals are the types of people that are builders. They are activists. They are building and advancing our collective knowledge.
Some other people are not builders. They are destroyers. They revel when the builders struggle. They celebrate when the builders face setbacks. They scorn and shame the builders for having tried at all.
I sincerely appreciate the efforts of any shareholder that took the time and energy to submit a proposal, any proposal at all, even if it gets rejected.
Every little thing that GME shareholders do that produces additional knowledge is beneficial overall to all shareholders.
Some parties out there in the world that are in opposition to GME shareholders don't like this. They don't like it when GME shareholders get loud and get active. They would much prefer it if we would all just shut up and go away and forget GameStop.
That's not going to happen. I for one am not going anywhere.
🍻
Agreed, with an addendum. We must simultaneously work to reform the existing system AND build a new system. One incentivizes the other, thereby ensuring the outcome & its expediency. There's growing public awareness, community participation, and current (& future) activist whales with good intentions to kick-start the journey to a better future on both fronts. Needless to say I'm 100% convinced we need non-fungible securities ownership via NFTs or some equivalent system.
The "hard to build things, easy to destroy" truth resonates - Markets should be (financially) incentivized to create rather than destroy, which is why I'm against short selling at all - legit or naked/counterfeit. It is simply too easy to destroy a company & profit from its destruction, either forced via massive short positions or plants/sellouts within a board/C-suite.