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House GameStop Hearing Delves Into Robinhood, Reddit And WallStreetBets Deadline 2/19/2021
Vlad Tenev, founder of retail stock trading app Robinhood, told a House Committee on Thursday that “the financial system should be open to everyone,” including frenzied buyers of GameStop and AMC Entertainment whipped up by a Reddit chatroom.
He apologized profusely that a funding rule had forced the app to subsequently block share purchases – a temporary restriction that was a focus of the five-hour hearing today. The stocks fell and some Robinhood users lost their shirts.
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Tenev was testifying before the House Financial Services Committee alongside the CEO of a hedge fund that made a killing on GameStop (Kenneth Griffin, Citadel LLC) and another that lost big in a short squeeze (Gabriel Plotkin, Melvin Capital). Individual investor Keith Gill, known as Roaring Kitty from his YouTube videos and Reddit posts, bought GameStop and touted it on Reddit’s colorful W
Narrative Features
“The Antisocial Network”
Ben Mezrich, the author of “The Accidental Billionaires” about the founding of Facebook, made a book proposal called “The Antisocial Network,” and the film rights to the proposal were swiftly swooped up by MGM. Oscar-nominee Aaron Ryder will produce the narrative feature film about Mezrich’s unwritten story. Tyler and Cameron Winklevoss are also attached to executive produce the film.
RatPac Entertainment nabs WallStreetBets founder’s life rights
Though there’s no writer involved just yet, the founder of the subreddit WallStreetBets Jaime Rogozinski sold his life rights to Brett Ratner’s RatPac Entertainment in exchange for a payment in the low six-figures, The Wall Street Journal reported earlier this month. The idea is to dramatize Rogozinski’s own role in the GameStop saga, and the company and Rogozinski are meeting with writers to pen the script.
Post Malone Manager Dre London Teams With David and Christina Arquette for TV Project (EXCLUSIVE)
Post Malone, Tyga and Trinidad James serve as producers on crime drama High Heel.
Shirley Halperin, provided by
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Dre London, whose London Ent is home to management clients Post Malone and Tyga, is expanding his reach into television, executive producing a new project titled “High Heel.” The crime drama set in Memphis will be produced by the husband-and-wife team of David and Christina Arquette; Post Malone, Tyga and Trinidad James also serve as producers; and Rochée Jeffrey (“SMILF”) has signed on to direct.
Documentary+ Streaming Service Launched by Nonfiction Studio XTR
Free platform available Thursday features films such as “The Imposter,” “Cartel Land” and “Born Into Brothels”Brian Welk | January 28, 2021 @ 7:00 AM Last Updated: January 28, 2021 @ 7:04 AM
Another new streaming service has launched, this one a niche platform called Documentary+ dedicated solely to nonfiction films.
The free, ad-supported streaming platform is available on Thursday and was launched as a joint venture between the nonfiction studio XTR and the late former Zappos CEO Tony Hsieh.
Documentary+ currently has a library of over 200 feature-length and short documentary films, including classics, cult favorites, true crime stories, sports films and rock docs. Some of the films in the initial catalog include “The Imposter,” “Life, Animated,” “Born Into Brothels,” “Cartel Land” and more. The service also features docs by filmmakers such as Spike Jonze, Kathryn Bigelow