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Facebook shuts popular stock trading group amid GameStop frenzy

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Re: Facebook shuts popular stock trading group amid GameStop frenzy

#281

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Should privately owned sites be allowed to control what content they display or should they be forced to accept whatever their users post? And we're talking about endpoints, not the carriers represented by ISPs and phone companies. It's funny to me when conservatives talk about the sanctity of private property, and then want to force the owners and publishers of certain sites to have zero control over their own prope…

It's the scale that matters. Once a company starts serving many millions of people, and becomes a nationwide backbone for some type of communications like Twitter, Facebook, Amazon services, email providers, telephone companies, etc. then it needs to be illegal for them to engage in discrimination and censorship based on political ideology.

Nobody's saying you can't run a small Federated server on Mastodon, for example, and "play god" with your users, but if you do that on a national level you need to be made to stop.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#282

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Having expressed this understanding of WSB's benign intent in their use of the term "retard", surely you see why some random person at Discord taking offense to it and whimsically banning the entire community is messed up, right? Discord is host to a massive variety of nominally private (you need a link to join) communities that have real, deep value to those who participate in them. Over time they develop their own…

The comment you are responding to is talking about more offensive stuff than the "benign intent" of the core WSB community. I've only been in a handful of discord communities, but none of them would tolerate even the "benign intent" WSB stuff. Also, "benign intent" does not make offensive behavior less offensive. Intent can matter, but it certainly isn't everything.

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Re: Facebook shuts popular stock trading group amid GameStop frenzy

#284

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> My general sense is that WSB works hard to moderate within its sensibility so it stays enjoyable, but with the big influx, I’d bet Facebook and Discord are either reacting to behavior which is slipping past the WSB mods due to the influxes, This is possible, they are a victim of their own success in a way... or The banks are looking for a way—any way—to shut them down. This is costing millions of dollars. Paying a…

What banks? And why banks? Banks are not involved in the short squeezes at all.

Banks back the primary dealers who take and back these leveraged trades. They are up to their noses in this.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#286
post #272

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It might be fishy but there is also a lot new interest in WSB and everything related. So much interest that /r/WSB voluntarily shut themselves down for a while because they couldn't handle the moderation situation. So why it's happening now can more multifaceted than the more conspiratorial reasons. Even increased media attention is enough for someone to act -- The Hackernews community uses that all the time to get a…

Serious question: Since Facebook is a private company, does the "if you don't like it, you can build your own platform" argument apply here? Or does that only apply selectively when it benefits partisan politics? The RobinHood $GME situation is the natural next step in societal evolution once extreme censorship is given a pass. If you support the "go build it yourself" argument, you no longer have the right to compla…

Absolutely! I'm not sure why you replied to my comment with this but I totally believe that Facebook doesn't have any legal or moral requirement to host anything they don't want to. They could literally just punt me tomorrow because they don't like my name and that's their right. Especially because there is no commercial or contractual relationship between us. I am not a customer of Facebook.

If you pay for hosting then you have a contract and then you and the company you're buying from are beholden to those terms.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#287

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People said the same thing about MySpace. Facebook is trivial to leave (I haven’t been on it in years now). It was not trivial to change to a different railroad, plumbing provider, etc.

> People said the same thing about MySpace. That gets brought up a lot however: * MySpace never had the revenue of Facebook * Far more people are on Facebook than were ever on MySpace. There are not that many of my personal friends/family were ever on MySpace. Now however, almost every one of my personal friends and family members is on Facebook. * MySpace did not spend billions acquiring potential social network com…

Until your family suffers the consequences or the side effects of FB, you will ignore the critics but I am convinces that most families will eventually experience the side effects.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#288
post #272

Earlier quoted context omitted.

It might be fishy but there is also a lot new interest in WSB and everything related. So much interest that /r/WSB voluntarily shut themselves down for a while because they couldn't handle the moderation situation. So why it's happening now can more multifaceted than the more conspiratorial reasons. Even increased media attention is enough for someone to act -- The Hackernews community uses that all the time to get a…

Serious question: Since Facebook is a private company, does the "if you don't like it, you can build your own platform" argument apply here? Or does that only apply selectively when it benefits partisan politics? The RobinHood $GME situation is the natural next step in societal evolution once extreme censorship is given a pass. If you support the "go build it yourself" argument, you no longer have the right to compla…

Of course, they have the right to do whatever. What is interesting is the timing. Why is Facebook comfortable demonstrating to what extent they are somehow linked to wall street? That's just an odd choice, I wouldn't have made a connection between them if they hadn't actively moved to harm their own brand in order to protect markets. That should ring alarm bells regardless of legality.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#290

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"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

Sounds like an add for defi
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