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Facebook shuts popular stock trading group amid GameStop frenzy

reuters.com

381–390 of 540 posts

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#381

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

> Just build your own financial banking system bro

Nobody says this; attempting to build your own financial banking system is one of the most illegal things you could do.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#383
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.

“what the fuck even is this timeline” is my new mantra! Thank you :-)

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#384

Earlier quoted context omitted.

Historically, reddit is most likely to move against subreddits when they cause embarrassing news articles.

Make no mistake, Reddit is absolutely loving this. WSB has 3 million new subscribers in the past 2 weeks. The only thing the executives at reddit care about is revenue and hence impressions, which is exactly what they're getting.

>The only thing the executives at reddit care about is revenue and hence impressions

Oh please. If that was true, they wouldn't have banned TheDonald, especially so close to the election. That sub drove a huge amount of traffic.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#386

Earlier quoted context omitted.

Or just delete it and be honest: "Our VP's rowing crew buddy from Harvard who now works at Citadel asked us to shut this down and he's more important than you."

Reminds me of when I and a whole flight's worth of people were waiting hours in line at the airline's service desk to rebook flights after a missed connection. One guy waltzes up and steps right into the front of the line. People object to him pushing in, but the guy stays where he is and says "sorry, I'm business class!". The airline employees let him do it, and just repeat to us: "Sorry, he's business class!" He ge…

That's not even close. As long as the first/business/economy classes are transparent in their policies and privileges, then it's okay. There is no cheating here.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#387

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 they don't remove anything they get blasted for hosting violence and abuse

What makes you think so?

There's violence and abuse everywhere on Facebook I guess

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#388
post #49
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…

I'm thinking that their stock is also tied to the hedge funds holding short positions on GME and etc. They also took a dive because of WSB - maybe their covering their own interests?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#389

Earlier quoted context omitted.

Agreed on WSB culture but.... The "real question," imo is not about how FB, discord or reddit handle WSB's culture. It's why have they all decided to act right now, just as this gamestop maneuver is happening? That is the fishy part... and it's too fishy to leave it unaddressed and talk content. Either way, this just shows why we can't have a handful of companies moderating most of the internet under a TOS regime.

It’s not fishy at all. everything that’s happened has caused these communities to grow exponentially to unprecedented levels. tripling or quadrupling in size. It’s like asking why a house party of a dozen people doesn’t get raided by the cops and a party of hundreds does.

Of all actors, platforms like Discord and Facebook should understand that such an influx makes it quite hard to moderate well. And that there is also a risk of adversarial actors infiltrating the groups. If they had any interest in the well-being of said communities, they would show some understanding of this challenge. At the very least wait a few days until things have shaken out. But no, straight to the ban hammer, with no dialogue.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#390
First Google with reviews, now Facebook. Why on Earth are they mixing themselves up in this? Both companies already gave people enough reasons to be angry at them earlier this month. A little more of this and I'll start believing that they want to get the wide public against them, for some reason.
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