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The early internet chat boards were the Wild West where people could say anything, but there was a lot of substance too — it's not that different from today.

Loeb describes his early days on pre-Reddit chat boards, calling them the Wild West where substantive investing ideas mixed with anything-goes trolling, and notes the continuity with today's online investing culture. ✦ AI generated

Dan Loeb · All-In Podcast · 2026-06-05 · original ↗

plays this moment only · 0:57 — 2:54

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Before Twitter... you were actually quite active, but they were in very different places. I mean, you were in Wall Street Bets before Wall Street Bets existed. Can you just walk us through your evolution as a public persona?

I was the original troll. Yeah, no, I did. I mean, it was fun. You know, I didn't know I was one day going to run institutional money and have a big fund. And, you know, I was just having fun and blowing off steam. And yeah, it was fun. I mean, investing is fun. And particularly on the short side, I mean, there's so much humor in it when you detect these companies, especially in the 90s. I mean, it was really unsupervised. There were some incredibly fraudulent companies out there, and it was just fun to uncover them and kind of taunt the management teams and ultimately prevail.

verbatim transcript · starts at 0:57

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