The Howard Lindzon Show with Michele Steele

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The Howard Lindzon Show with Michele Steele is where logic meets speculation. Whether you’re an investor or curious by the intersection of money and culture, this podcast delivers honest insight, actionable strategy, and unapologetic commentary from hosts who have been in the trenches of markets and startups alike.

Episodes

  1. APR 8

    The Internet Isn’t the Web Anymore: TikTok + Chatbots Ate Everything

    Welcome back to The Howard Lindzon Show. Howard’s back with week two of the finger—now officially nicknamed “Pointy”—and we’re getting closer to the big reveal at the Cashtag Awards on May 4 at the New York Stock Exchange, where voting is wrapping up. Think: finance’s version of the ESPYs—awards, laughs, Nathan McIntosh, Polymarket as sponsor, and a room full of market people. Then we get into the heavy stuff. Howard’s Sunday blog line hits hard: “We were promised Web3.0 and all we got was deglobalization, degeneracy, and slop.” The point isn’t just crypto disappointment—it’s the bigger shift: while the world was chasing NFTs and decentralization narratives, AI was quietly building in labs and now the entire “web” experience is changing. If you’re 15 or 20, the internet is TikTok and a chatbot—you don’t “surf the web” anymore. From there: X as a “freak show,” algorithmic timelines rewarding garbage, the uncomfortable truth that negativity sells, and why people are migrating toward niche communities and group chats for signal over noise. Howard explains why StockTwits benefits from this shift—real-time streams, people talking to people, and no algorithm propping up the loudest “Cat Turd” equivalent. We close on a rare optimistic note: good work still wins. In a world of giants, small teams can drill into one pain point, build something real, and get rewarded. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:05 - Intro + “Pointy” finger nickname update 02:41 - Cashtag Awards at NYSE May 4: voting is wrapping up 03:10 - Categories + why this year’s event is bigger (Nathan McIntosh, Polymarket) 04:17 - Why we need the Cashtag Awards: the news cycle is chaos 05:00 - “Civilization ends tonight” rhetoric + markets barely moving 06:21 - Oil ripping + the market’s surreal calm 08:34 - Apple as an “edge” AI winner: phones, hardware, and the store moat 10:38 - “Held hostage” mentally: markets + geopolitics + daily game-show energy 13:36 - Anxiety bubble: why people feel it everywhere 14:04 - The line: “We were promised Web3… and got slop” 15:19 - Web2 was fun… then the Web3 story… then reality 16:45 - The Bahamas/SBF era: the tell at the top 17:54 - While everyone watched crypto, AI became the real shift 19:15 - “We lost the web”: TikTok + chatbots ate the internet 19:47 - Tokens + Nvidia as the arms dealer 23:03 - Life lesson: don’t chase the shiny object and miss the real opportunity 24:54 - AI could pull us away from screens (ironically) 25:57 - Attention + trust + vertical networks + group chat matter more 26:40 - X is a freak show: algorithm drives what you see 29:54 - New York Times chart + negativity/defeatism selling 31:39 - Why StockTwits gets more engagement with a smaller audience 33:28 - Creators moving to Substack/Beehiiv + algorithm choke points 35:22 - America as the world’s soap opera 37:37 - Niche platforms can win: TBPN story + doing the work 39:14 - Wrap + finger typing struggles

    37 min

  2. APR 3

    Dangerous World, Orderly Markets | The Oil Puzzle Nobody's Talking About

    Good morning from The Howard Lindzon Show. We open with a quick health check: Howard’s garage mishap and finger reattachment is still the talk of the town—turns out “The Tail of the Finger” was one of the best-performing posts on StockTwits. But after the laughs, it’s straight into the markets. Howard lays out why this sell-off feels “too orderly.” Look at what’s on the board: oil spiking toward $130, rising yields, rising mortgage rates, tariffs and de-globalization pressures, private credit stress, and major geopolitical uncertainty. With that mix, you’d expect panic… and yet the indexes are only pulling back. That disconnect is what’s making this market so hard to read—and why Howard’s staying cautious even while admitting the tape is holding up better than the headlines suggest. Then the conversation turns to something bigger than one week’s price action: the blending of private markets into public markets, and how the rules are being rewritten. Howard and Michele discuss the potential push to bring mega-private companies like SpaceX, OpenAI, and Anthropic public—and the concern that investors could be forced into these names through market-cap weighted index products on day one. The result: less transparency, more “shell games,” and more pressure on the integrity of markets that power retirement accounts. We wrap with perspective: if you’re young, volatility can be a gift—keep compounding and keep buying—while also learning how to protect yourself if indexing changes (including the rise of direct indexing and the ability to opt out of specific names). Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:05 - Intro + “Tale of the Finger” post goes viral 01:49 - Howard’s finger update: garage mishap recovery check-in 06:05 - 911 and the hospital experience: fast emergency care vs the system after 08:41 - Nickname brainstorm: “Stubs” vs “Scarfinger” 09:23 - Finger story as content: why “train wreck” traffic works 09:49 - Markets and geopolitics: the back-and-forth that snapped the rally 10:24 - Why the sell-off feels “too orderly” 11:49 - Oil, yields, private credit stress: “why haven’t markets crashed?” 14:06 - Oil spikes and recession history: what the textbook says 15:05 - De-globalization and commodities: aluminum, copper, silver breaking out 16:32 - Dangerous mix: rising commodity costs + rising rates 17:49 - Why “orderly declines” usually don’t end orderly 18:16 - Buffett’s cash pile + Gunlock’s warnings 19:58 - Private markets blending into public: “shell games” and opaque pricing 20:52 - The stakes: SpaceX/OpenAI/Anthropic IPOs and trillions in demand 22:07 - From “kept private too long” to “forced into ETFs day one” 23:06 - Direct indexing as a response: opt-outs and tax-aware customization 23:59 - SpaceX + Twitter + Grok packaging questions 24:48 - Why pros fear shorting: a headline can flip the tape instantly 25:18 - Integrity of markets: the real issue under everything 26:21 - Retirement accounts and rule changes: who benefits? 27:06 - If you’re young: hope the market drops and keep compounding 28:00 - “Pay attention, don’t study”: find mentors, protect yourself 31:14 - Travel vibes + perception: the “American tourist” question 32:20 - Wrap + tease: finger reveal next week + Cash Tag Awards plug

    33 min

  3. MAR 25

    Truth Social Moves Markets + Why Young Traders Think the Market’s Rigged

    This week starts with a hype check: the Cashtag Awards are back May 4th at the New York Stock Exchange. Last year overflowed—this year there’s room for 500 people, Polymarket is the title sponsor, and Nathan McIntosh is bringing the comedy (plus special investing guests and plenty of side chatter). VOTE FOR CASHTAG AWARDS HERE: https://cashtag.stocktwits.com/ Then we get into the Degen Stock of the Week: Clear (YOU). With TSA issues creating massive airport lines, Clear is catching a wave of “I can’t go back” adoption—Howard calls it an “8-to-80” product: once you have it, life before it feels impossible. It’s not just airports either—Clear is a security brand with broader applications as the world gets more dangerous. From there, Howard goes bigger-picture: young traders discovering “the market is rigged,” the idea that “someone always knows,” and why you don’t want to live at the “line of scrimmage” reacting to every real-time headline. The Truth Social layer adds a new twist to information flow, and Howard’s point is simple: don’t lose your mind—95% of investing is still doing the work, finding great companies, or indexing. Finally, Robinhood’s backlash: when the stock is down and the app leans hard into prediction markets and betting, users revolt. Betting and investing aren’t the same, and mixing them creates a mob problem. StockTwits’ advantage is staying trading-neutral—ideas, journaling, community—without turning your feed into a casino lobby. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:05 - Cashtag Awards hype: NYSE venue, bigger crowd, Polymarket sponsor 01:00 - Voting is live: cashtag.stocktwits.com + May 4 details 01:52 - Degen Stock of the Week: Clear (YOU) 03:15 - “8-to-80” product: once you have Clear, you can’t go back 04:00 - TSA chaos = free advertising + the Atlanta line nightmare 04:30 - Clear as a security brand, not just “tech” 04:39 - Is it too late after the rip? How to follow the story 06:21 - “If you’re going to panic, do it first” — are we in panic yet? 07:05 - Casino rule: if you don’t know who the sucker is, it’s you 08:41 - “Someone always knows” + the rabbit hole traders fall into 09:38 - Truth Social as a new info layer and why it matters 11:03 - Trust erosion and why it’s dangerous for markets 13:14 - “Stay away from the line of scrimmage” investing advice 14:06 - The chaotic 60-minute window: positioning before the post 15:53 - Why this is different from the old “Goldman boogeyman” era 18:48 - Robinhood backlash: too much betting inside an investing app 19:26 - Mob psychology: heroes on the way up, villains on the way down 22:05 - “Robinhood’s next food poisoning” branding moment 23:02 - Prediction markets aren’t going away — tough conundrum 24:25 - Stocktwits: pseudonymous ideas, no trading attached 25:57 - Why “seeing people’s trades” isn’t the edge you think it is 27:09 - Tease: new product/streams coming in the next 3–6 months 27:52 - Wrap

    28 min

  4. MAR 18

    America vs China: The AI Approval Gap Nobody's Talking About

    Has Silicon Valley completely lost the plot with AI? This week on the Howard Lindzon Show, Howard and Michele break down the massive "vibe shift" around Artificial Intelligence, including new Pew Research showing a staggering gap in AI approval ratings between the US and China. Plus, they dive into the SEC's controversial proposal to make quarterly earnings optional, why the market is brushing off terrible headlines, and how the "oversupply of degeneracy" is impacting prediction markets, Robinhood, and DraftKings. 🏆 Don't forget! The 2026 Cashtag Awards are coming up on May 4th at the New York Stock Exchange. Get all the details and secure your spot: [Insert Link to cashtag.stocktwits.com] In this episode, we cover: Why investors are fleeing to cash at the fastest rate since 2020. The unintended consequences of the SEC potentially ending quarterly earnings reports. Why the tech industry's biggest billionaires are ruining AI's public image. The hidden AI hardware winners: Apple's Mac Mini and Google. The oversupply of prediction markets and why Robinhood’s stock is struggling despite the degeneracy boom. Chapters: 00:00 - Intro & St. Patrick’s Day Banter 00:48 - Announcing the 2026 Cashtag Awards at the NYSE! 02:21 - Market Vibes: Why are investors rushing to cash? 05:38 - The SEC wants to make quarterly earnings optional?! 10:50 - Insider trading risks & the SpaceX SPY inclusion 16:21 - The AI Vibe Shift: Why 83% of Americans dislike AI 21:39 - Big Tech's massive PR problem & Claude vs. the Pentagon 24:26 - OpenAI’s pivot & why Apple and Google are the real AI winners 28:16 - The "Oversupply of Degeneracy": DraftKings, Robinhood, & Prediction Markets 33:05 - Outro & Finding global buying opportunities

    34 min

  5. MAR 12

    Trump, Truth Social, and Market Whiplash + The Real Degenerate Economy

    Howard opens the week with a rapid-fire mix of real life and markets: Narcan, “Claude Code,” eye strain, and the kind of personal optimization advice that somehow turns into a conversation about underwear orientation and brushing your teeth with your feet. Then we get serious (in the most Howard way possible): the Cash Tag Awards are back—May 4th at the New York Stock Exchange—with Polymarket presenting and comedian Nathan MacIntosh bringing the heat. Howard explains why the show is the “ESPYs of finance,” why last year overflowed the room, and why this year will be bigger, louder, and more degenerate. From there, it’s market reality: war headlines and Truth Social posts whipping oil and stocks around, and why investors have to accept that this isn’t a “normal” market. Then we go deep on the new narrative stack—AI agents, stablecoins, Stripe, and the idea of machines paying machines—plus why Howard still trusts what has real users today (Claude/Anthropic) more than the last decade of “go set up a crypto wallet.” We close with the part people ignore until it’s too late: private credit liquidity. BlackRock’s fund caps withdrawals, redemption requests spike, and the “equity returns with bond volatility” dream meets the Hotel California rule: you can check in, but you can’t always get out. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:07 - Narcan + “Claude Code” (spell it right) 01:09 - Screen fatigue: “stare at the horizon” advice 01:35 - Underwear front vs backwards (market prep) 02:38 - Cash Tag Awards: NYSE on May 4th + Polymarket + Nathan MacIntosh 03:49 - Doing standup for 11 people: why Nathan got the gig 04:30 - The “ESPYs of finance” and degenerate economy tribute 05:54 - War headlines, markets whiplashing, oil cliff-drop + reversal 06:45 - Truth Social as plunge protection / market-moving lever 08:23 - Real war, real bombs, and why this won’t be “normal” 11:02 - AI agents + stablecoins + Stripe: machines paying machines? 12:30 - Crypto wallets vs product-market-fit: why AI adoption feels different 13:21 - Claude Code in the real world: building sites without begging users 14:20 - The agent-to-agent future (and why it might be annoying) 16:29 - Claude’s growth + why “this has never been seen before” 18:06 - OpenAI drama + why Howard doesn’t trust the structure 18:34 - SoftBank as the leveraged OpenAI tell 20:11 - Use Stocktwits/search to triangulate stories from angles 22:29 - Private credit warning: BlackRock caps withdrawals 24:39 - Redemptions = viral panic (but downward) 25:15 - KKR/BlackRock pressure + software rollups meet mark-to-market 26:20 - Liquidity isn’t free: public volatility vs private lockups 27:40 - Naming your AI agent: Vern, Howie Town, and “Howie.com is taken” 28:56 - Wrap

    29 min

  6. MAR 5

    AI Isn’t a Bubble Argument Anymore: It’s a “Don’t Miss It” Moment

    Howard’s in New York, and the world is loud. We start with the headline: investors are “hedged to the teeth,” holding historic put protection. Howard explains why that’s not as straightforward as it sounds—markets still climb a wall of worry, but in 2026 the wall is bigger because negativity is viral. Social media algorithms amplify fear, everyone throws around crash words, and now prediction markets add another layer of real-time anxiety. The takeaway: get used to persistent negativity… and learn how to invest inside it. Then we zoom into the balance sheets: the profit power of the biggest tech companies versus the Russell 2000’s lack of earnings, and why the last year’s rotation makes sense. The MAG-7 aren’t just hoarding cash anymore—they’re pouring it into AI compute and data centers, changing how the market prices risk and opportunity. Next up: prediction markets. Kalshi draws controversy with a huge event contract tied to a political leader being removed “due to death,” and a “death rule” that prevents a straightforward payout. Howard’s view: prediction markets are becoming media and sentiment engines—and the fine print matters. Finally, the AI competition heats up. Claude rockets up the charts, the public narrative shifts hard toward Anthropic, and Howard lays out why “being better” can beat “being first.” He calls it a rare “quadruple Lindy”: loved product, paid product, word-of-mouth growth, and a public perception win. Plus a practical message for parents and young professionals: if you’re not using AI, someone else will do your job faster—learning it is the new going outside to play. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:06 - Howard in New York + Israel trip postponed 01:33 - Investors “hedged to the teeth”: record put protection 02:20 - Markets climb a wall of worry (and it’s bigger now) 03:04 - Why hedge data can mislead: more money in the system 03:32 - Negativity is viral; positivity dies fast 04:14 - Crash words, black swans, and missing the “peace” scenario 05:28 - MAG-7 vs Russell 2000: profits vs no profits 06:21 - Why QQQ crushed Russell over 10 years 06:50 - Why Russell outperformed recently: AI capex uncertainty 07:42 - If AI works, buying the dip in leaders gets interesting 08:49 - The puzzle: punished for spending on AI AND for selling the picks-and-shovels 09:44 - Why Nvidia “flat on great news” can be bullish 10:33 - The next problem after chips: energy + infrastructure 11:21 - Degenerate index: Kalshi controversy + “leader out” death contract 12:36 - Prediction markets as media + sentiment vs pure betting 13:37 - Guardrails, integrity, and reading the fine print 15:54 - Claude’s surge + vibe shift vs OpenAI 16:49 - First mover vs better workflow: why the market is paying for Claude 18:21 - Paid usage is the real signal: “if you’re not using it, you’re behind” 20:30 - Anthropic’s “quadruple Lindy” explained 22:18 - Howard Marks memo shift: from bubble talk to “don’t miss it” 24:27 - Agents, goals, parameters: the workflow leap 25:18 - Parenting advice: AI is the new “go outside and play” 28:08 - AI is about tasks, not tricks + closest we’ve been to the Jetsons 28:58 - Wrap

    29 min

  7. FEB 25

    Five Hindenburg Omens + AI Taking Over—What's Actually Happening

    All right, Howard’s week is going great—Claude’s parenting the kids (and apparently only using the father-in-law’s bank account). From there, we get into the real story: Howard’s spicy tweet—“this bear market is AI Independence Day”—and why software is finally getting forced to show what’s under the hood. We talk software’s margin era, private equity’s comfort with leverage, and how AI is coming for the “penthouse” first. Meanwhile, markets feel split-brained: staples vs tech valuation parity, credit cards getting smacked as the market thinks about stablecoins and 24/7 money movement, and why energy (XLE) is working because the narrative is working—AI needs compute, compute needs power. Then we hit the Hindenburg Omen (five of them!), what it actually signals when highs and lows spike at the same time, and why “the contrarian software dip-buy” might be turning into the consensus trade. Biggest takeaway: the agent era is already here. Kids don’t want to surf the web. They want to ask a chatbot for the answer, the flight, the stock, the move—everything. And if Google flipped the switch, nobody else can pretend they don’t have to. We close with a brutal dose of reality (for Canada): USA vs Canada hockey, three-on-three overtime, and the kind of sports trauma that builds character. #AI #Markets #Investing #Stocktwits #SoftwareStocks #EnergyStocks #HindenburgOmen #Hockey #howardlindzonshow Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ Chapters 00:05 - Claude parenting + father-in-law’s bank account 00:51 - “AI Independence Day” bear market tweet explained 01:26 - Software margins, dilution, and AI coming for engineering “Kobe beef” 02:37 - Taxes, private equity leverage, and the software unwind 03:26 - Tech forward P/E at parity with staples: regime change or chart crime? 05:09 - Credit card stocks, the Citrini chatter, and “is the consumer tapping out?” 06:44 - Visa/MC/Amex take rates, stablecoins, and 24/7 money movement 08:09 - Why energy (XLE) is the shelter trade in this market 10:40 - South Korea as the “country of compute” + EWY and flash memory mania 13:47 - Hindenburg Omen explained: 52-week highs and lows at once 14:48 - What the omen really means: markets acting weird, not “guaranteed crash” 17:12 - Be careful calling the bottom in software: consensus contrarian risk 20:05 - AI usage chart: toys vs real workflows—and why the “right people” matter 23:42 - Kids skip search: the chatbot-first internet and what it means for brands 26:13 - Google AI answers vs blue links: there’s no going back 28:16 - Stop debating “if”—start building for the agent era 29:00 - Canada vs USA hockey: trauma, three-on-three, and Olympic revenge talk 32:24 - Wrap

    33 min

  8. FEB 19

    Robinhood Ventures: Retail Access to SpaceX… or a Fee Trap?

    Welcome back to The Howard Lindzon Show with Michele Steele. This week: Stocktwits is rolling out major upgrades — overnight pricing, lightning-fast earnings summaries powered by AI, and a revamped earnings stream built for the “markets never sleep” era. Howard explains why streaming is the future of how investors follow tickers, earnings calls, and sentiment in real time. Then we hit the Degenerate Economy Index: CBOE breaks out to new highs, the VIX climbs, and prediction markets keep expanding as regulators step into the ring. Howard lays out why CBOE is the “global YOLO bookie” — an arms dealer to traders everywhere — and why sports betting incumbents like DraftKings and Flutter may be “the thing before the thing” in a world moving toward always-on markets and better UI. We also dig into Robinhood Ventures (a closed-end fund aimed at giving retail investors exposure to late-stage private names), why it’s great business for Robinhood, and why it may not be the “revolution” some investors think it is. Finally, we break down the massive IGV vs QQQ divergence, why software is getting repriced violently, and why consumer staples suddenly look like your grandpa’s market… at 1998-style valuations. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ #Stocktwits #Investing #Markets #PredictionMarkets #Robinhood #OptionsTrading #SoftwareStocks #CBOE #howardlindzonshow Chapters 00:00 Intro: Howard’s “hip corner” and podcast setup 00:33 Stocktwits upgrades: overnight pricing, earnings stream, AI overviews 02:13 Why Stocktwits watchlists are built for real-time investors 03:12 The power of the earnings stream: summaries + sentiment fast 04:14 Streaming is the present (and future) of markets 05:23 Degenerate Economy Index: CBOE breakout and what it signals 06:06 CBOE as the “global YOLO bookie” bellwether 08:29 Prediction markets regulatory momentum and what’s next 09:54 DraftKings and Flutter as “the thing before the thing” 12:35 QVC, distribution, and why UI wins over time 15:49 Robinhood Ventures: retail access to private companies 16:54 Howard’s “thing before the thing” moment with pre-IPO liquidity 20:01 Buyer beware: fees, pricing, and why good investors may pass 25:14 IGV vs QQQ: the “expensive divorce” in software 26:05 Is software “done” — or is this the screaming phase? 30:06 Consumer staples: flight to safety and 1998-like valuations 33:13 Hot dog alpha: Chicago dog vs ketchup debate 34:52 Wrap

    36 min

  9. FEB 12

    Howard Lindzon on Robinhood (HOOD): The Mob Turns, Crypto Noise, and What Matters

    Howard’s back, fresh off travel (and a Florida speeding ticket), and he’s not easing in—this episode is a full reset on what’s happening inside the degenerate economy and why de-globalization is starting to matter more than people want to admit. Howard explains why the degenerate economy index has doubled over three years but is now struggling: there’s an oversupply of degeneracy—you can get it anywhere now, from vaping to prediction markets to options trading—and when it’s everywhere, the demand has to catch up. At the same time, de-globalization is pushing the world toward hoarding and hard-asset playbooks: gold, metals, energy, copper… and a rotation that’s pulling money out of software and into defense, metals, and “real stuff.” Then Michele takes Howard straight into the center of the storm: Robinhood—and Howard’s uniquely positioned here as an early investor and long-time observer. They break down what the market is missing: not just the fundamentals, but the psychology. Howard walks through how the StockTwits stream went from nonstop anger during the GameStop aftermath (“Vlad should go to jail”) to nonstop euphoria at the highs (“Vlad’s a genius”)—and why all news can’t be bad news, and all news can’t be good news. They dig into earnings, the crypto narrative, why Howard personally discounts crypto’s importance, and what actually matters long-term: accounts, assets, and product execution. Howard also explains why he doesn’t love Robinhood’s “plant a flag everywhere” international plan—and why a pipes-and-rails strategy could be more powerful globally. Finally, Howard frames the long game with context: Robinhood vs Schwab by market cap, what retail missed in the private-to-public era, and why he watches the valuation gap as a signal for opportunity. He closes with a blunt view: the tools for degeneracy are in the hands of people now, the debate will rage on, and Robinhood may be the best-positioned “arms dealer” in that ecosystem. Sign Up to join Stocktwits! https://stocktwits.com/ Subscribe to Our Channels: Stocktwits: https://www.youtube.com/@stocktwits The best of investing social, news, trends, and community driven market chatter in one place. Cryptotwits: https://www.youtube.com/@CryptotwitsOfficial Crypto news, narratives, and chart talk to keep you ahead of the next big move. True Odds: https://www.youtube.com/@True_Odds-ST Where prediction markets meet sports odds, sharp takes on what the lines are saying, what the market is pricing in, and how real time sentiment can shift the probability. Stocktwits Clips: https://www.youtube.com/@StocktwitsClips Quick hits and the best moments, bite-sized clips you can watch anytime. Boardroom Exclusives: https://www.youtube.com/@BoardroomExclusives Behind the scenes access and exclusive conversations you won’t find anywhere else. Ballpark Figures: https://www.youtube.com/@BallparkFigures-ST Big picture numbers, market context, and the stats that actually matter, made simple. Newsletters: Cryptotwits Newsletter: https://cryptotwits.stocktwits.com/ Your home base for what’s trending in crypto—top stories, heat-check sentiment, and the conversations driving coins, narratives, and the next rotation. Want to know what this means for your money? Follow The Daily Rip 👉 https://thedailyrip.stocktwits.com/ Other Socials: https://linktr.ee/stocktwits_ Chapters 00:00 — Welcome back + Howard’s travel recap 01:18 — Degenerate economy index update: oversupply + why it’s struggling 02:46 — De-globalization playbook + rotation vs withdrawal (metals, defense, hard assets) 06:09 — Robinhood setup: poster child of degeneracy + under-the-hood after earnings 08:24 — Sentiment whiplash: “Vlad should go to jail” → “Vlad genius” and why the mob turns 12:23 — Competition + oversupply: brokerages everywhere, good news baked in, why bulls aren’t shaken 15:23 — Crypto narrative: too much carry, volatility, and why “buy when crypto’s in the toilet” 18:01 — International strategy + Alpaca/rails thesis (country-by-country vs planting flags) 23:47 — Long game: Devin Ryan’s view, Robinhood vs Schwab market-cap context, buying the gap 28:52 — Prediction markets + Super Bowl example, degenerate tools, wrap + goodbye Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/

    30 min

  10. JAN 2

    Long Degeneracy: Why Robinhood, Coinbase, and Platforms Will Keep Winning

    It’s the last show of 2025, and Howard’s not sugarcoating anything. He’s turning 60, grateful for health, and reminding everyone that real wealth isn’t just the market—it’s family, relationships, and your health. From there, the conversation jumps straight into the degenerate index: a strong year, but also a reality check—fresh ideas are harder, the degenerate economy is getting crowded, and we’re in a digestion phase after big runs from “edge companies” like Google, Nvidia, Apple, and Robinhood.   Then it gets messy—in a useful way: Why Philip Morris / Zyn sits in the degenerate economy even if you hate everything about it (except profits) Why Affirm might be the “poster child” of buy-now-pay-later degeneracy, including the logic behind revisiting it now Why Bitcoin can be “not a problem” at these levels unless you bought the top—and why it has an attention problem when everyone already owns it Why MicroStrategy feels structurally different (and why the market is “hammering” its weakness) Why the late-year silver surge doesn’t do much for Howard—but signals something bigger: deglobalization, commodity hoarding, and countries putting up walls Why the real story isn’t “Instacart groceries,” it’s the commodities that keep countries running Why 2026 could bring a real affordability/inflation crisis and even a potential meltdown somewhere like Canada or Western Europe And the core theme that ties it all together: the essay that everyone sent Howard—because it lands on the same conclusion he’s been repeating for years: the platforms win. Amazon, Robinhood, Coinbase, ICE, CME, CBOE… the casinos of every era take rake, and today’s “hope sellers” are becoming the survival layer for people who don’t believe the system works for them anymore.   Key idea: what older investors call speculation, younger people experience as survival—and in that world, a hedge can become a growth strategy.   #DegenerateEconomy #Investing #Markets #Bitcoin #Crypto #Silver #Affirm #Robinhood #Coinbase #MicroStrategy #Commodities #Inflation #Affordability   Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision.

    37 min

  11. 12/26/2025

    Prediction Markets & How Platforms Are Reshaping Investing

    It’s a holiday edition of The Howard Lindzon Show with Michelle Steele, and the conversation spans everything from the Degenerate Economy Index to the future of prediction markets, regulation, and Gen Z’s relationship with risk. Howard breaks down why he recently added Amazon to the Degenerate Economy Index, explaining how AI, logistics, self-driving, and even Rivian fit into the next phase of market evolution. The discussion expands into why prediction markets are not just betting—but a new form of media—and how platforms like Robinhood, Coinbase, Polymarket, and Kalshi are racing to own distribution and the customer wallet. Michelle and Howard also react to the Wall Street Journal’s framing of “financial nihilism” among Gen Z, pushing back on the idea that young investors are abandoning hard work in favor of gambling. Howard draws a sharp line between investing, sports betting, and prediction markets—while arguing that vaping and addictive consumer products pose a far bigger long-term threat than betting itself. The episode closes with a candid look at SEC regulation, market chaos vs. clarity, and why 2026 could mark peak prediction markets—as these platforms increasingly shape headlines, narratives, and how people understand probability in real time.

    28 min

  12. 12/18/2025

    Degenerate Index Shows How Broken Our Casino Economy Really Is

    Welcome in to The Howard Lindzon Show with Michele Steele — where culture meets technology meets money… and the Degenerate Economy Index is the map. Howard breaks down the “degenerate economy” as a lighthearted lens on a hard topic: the tidal wave of speculation, prediction markets, and modern “betting UI” colliding with investing in real time. We dig into Invest America’s $250-per-kid momentum, Nasdaq’s push toward a 23-hour trading day (bad degeneracy? inevitable progress?), and Kalshi “combos” that feel like parlays for people in Patagonia vests. Then it’s a deep dive on Robinhood: from scrappy trading app to something closer to an American “super app,” now leaning into event contracts, prediction markets, and the decentralization of information and expertise — with all the power (and volatility) that comes with it. We wrap with community buzz: Paramount, Netflix, and Warner assets trending, the drama of bids and personalities, and why the ultimate battle might not be “streamer vs streamer”… it’s attention. Drop your take in the comments: Are prediction markets the future layer of finance and media — or just the next chapter of the 24/7 casino?

    54 min
  • 12 Episodes

About

The Howard Lindzon Show with Michele Steele is where logic meets speculation. Whether you’re an investor or curious by the intersection of money and culture, this podcast delivers honest insight, actionable strategy, and unapologetic commentary from hosts who have been in the trenches of markets and startups alike.

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