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Facebook shuts popular stock trading group amid GameStop frenzy

reuters.com

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Re: Facebook shuts popular stock trading group amid GameStop frenzy

#61

Post by Const-me »

Facebook is a natural monopoly: https://en.wikipedia.org/wiki/Natural_monopoly

No matter how they treat users, people won't leave due to network effect.

I don't believe the problem is solvable with more tech or free market. I think the only way forward is political, with laws and regulations.

Long ago railroad networks, water pipes networks, and landline phone networks were private companies free to do whatever they please with the property they own.

It's time to add social networks to the list.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#62

Post by morlockabove »

SulfurHexaFluri wrote: post #35
morlockabove wrote: post #7

Earlier quoted context omitted.

"It's a private company, they can do what they want!"

Facebook is kind of fucked both ways tbh. If they don't remove anything they get blasted for hosting violence and abuse and if they remove too much they get blasted for censorship. Its impossible for them to remove just the right amount of stuff since thats subjective and they could never train a million moderators on how to apply it. I think the real solution here is we need to break up the social media companies. H…

If we can get federated solutions to be nice enough, maybe that'll do it.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#63

Post by dalbasal »

paxys wrote: post #2

> The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation.” That's some bullshit right there. Spin the wheel, come up with a random charge, and ban the entire community with zero recourse and no way to appeal.

When everyone is a criminal, anyone can be arrested. The reddit mods have basically made this charge, in their own special WSB way.

It's impossible for moderators to fully control large groups, subs and such. Some bannable comments will always be present, and they are limited by whatever moderation tools they get from reddit.

Meanwhile, the idea that discord, reddit (throttled not banned) and FB all simultaneously and coincidentally took these actions during the gamestop maneuver is not even 1% believable. WTF.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#64

Post by iagovar »

google234123 wrote: post #32
morlockabove wrote: post #7

Earlier quoted context omitted.

"It's a private company, they can do what they want!"

Just build your own website bro Just build your own host bro Just build your own financial banking system bro just build your own social media platform bro just build your own payment processing platform bro just build your own internet infrastructure bro

Isn't funny when the lowest common denominator (or whatever is called in english) just rules everything around you?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#65

Post by rufus_foreman »

paxys wrote: post #2

> The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation.” That's some bullshit right there. Spin the wheel, come up with a random charge, and ban the entire community with zero recourse and no way to appeal.

First they came for the Trump supporters, and I did not speak out - because I was not a Trump supporter.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#66

Post by listless »

abootstrapper wrote: post #47
asiando wrote: post #17

Earlier quoted context omitted.

People downvoted you but there’s some truth here. There’s only one thing that comes to mind: > First they came for the Socialists, and I did not speak out— Because I was not a Socialist. > Then they came for the Trade Unionists, and I did not speak out— Because I was not a Trade Unionist. > Then they came for the Jews, and I did not speak out— Because I was not a Jew. > Then they came for me—and there was no one left…

It’s more like: First they came for the fascist but I didn’t speak up because fuck those guys. Then they came for the meme stock traders, and what the fuck even is this timeline. Bottom line is corporations are self serving, and the poem doesn’t really hold up to what is happening.

That first paragraph is straight up poetry

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#67

Post by ttt0 »

blhack wrote: post #25

Why do they even pretend to give a reason anymore. Just close it. Nobody is buying the "hate speech" "adult sexual exploitation" whatever arguments, and honestly it just makes facebook look like liars. Just delete the group and say: "It violated our terms of service". That's probably also a lie, but at least it's a little less obnoxious.

The thing that gets me is that they don't ban specific people, it's always the entire community that gets taken down. But totally nothing to see here, guys.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#68

Post by babesh »

It’s time to hack/weaponize censorship. Any group you don’t like you infiltrate and add hate speech. Like China when you denounced the neighbor you had a grudge with as bourgeoisie.

If you don’t think this isn’t already happening, you are completely wrong.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#70

Post by aquaticsunset »

pfraze wrote: post #49
paxys wrote: post #2

> The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation.” That's some bullshit right there. Spin the wheel, come up with a random charge, and ban the entire community with zero recourse and no way to appeal.

Okay so I completely agree but I want to add something to what’s going on Half the fun of WSB is that it is enormously offensive. The foundation of the community is that a forum talking about stock investing strategies is, at its heart, really dumb. It’s harder than most people can manage to evaluate all the “DD” flying around and any advice other than playing it safe (r/investing) is stupid to take from a rando on a…

Discord has since taken the stance of helping the mods, instead of permaban. I liked hearing that news earlier today.

https://www.theverge.com/2021/1/28/22254339/discord-r-wallst...

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