The GameStop Squeeze and the Fable of the Bees

Justin E. H. Smith in his Substack Newsletter:

Do bees have generals? Do they constitute a nation? A tribe? Perhaps a clan?

How we answer these questions may reveal something about our implicit convictions regarding what might be called “the metaphysics and politics of the swarm”. What is it exactly that forms when several individual entities, human or animal or something different still, come together after the manner of the bees, and act as one? And what are the political potentials and hazards of human individuals in particular coming together in this way?

Answering these questions in turn may help us to make some sense of the political promise of such frenzies as we have seen over the past few days, when a concerted effort on the part of the lads from Reddit drove up the price of GameStop stock, squeezing the hedge-fund managers who had hoped to short it, costing Wall Street billions of dollars, and sending the market into chaos.

More here.