exactly.
what if public pension funds, the ones with the largest fraction in hedge funds, can no longer make sweetheart profits because of the robinhood investors?
Do they have to increase their capital? From where? Sell more bonds?
The markets are full of vulnerabilities right now, to the point where the economy is looking more and more like a game of Jenga. Like that game, there are any number of ways to make the tower fall down, and every play makes it more unstable, with no way to reinforce it until it is rebuilt.