Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Facebook shuts popular stock trading group amid GameStop frenzy

reuters.com

Post reply on HN
Print view View original

421–430 of 540 posts

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#421

Post by doix »

cbozeman wrote: post #271
pfraze wrote: post #49

Earlier quoted context omitted.

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…

This is not how WallStreetBets started. I joined the community in 2017 and I can tell you, there was high-level due diligence going on that made me wonder if some of the people posting might also be working at large investment banks, but couldn't get these certain trades they were advocating past their compliance guys (at some point, "too risky" starts to overlap in the Venn diagram with "too dumb"). Like every thing…

WSB went through many different phases. I remember when gold was getting meme'd super hard ($JUNG, $DUST). Then "pharma bro" (Martin Shrekli) was popular and it was all about small cap bio stocks.

Then FD's (weekly OTM options, what it stands for is offensive) became super popular.

But I agree, it was always a good mix of memes and DD. I remember some activision DD which was along the lines of: "look at the name, act and vision! Two things a company needs to succeed".

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#423

Post by belorn »

encom wrote: post #384
colinmhayes wrote: post #149

Earlier quoted context omitted.

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.

If we are talking money incentives, a community that are discussing stock investments seems more interesting for advertisement than politics. If a person are investing in stock options, it almost guarantied that they have spare money.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#424

Post by notahacker »

harry8 wrote: post #414
notahacker wrote: post #396

Earlier quoted context omitted.

The supply of volunteer trolls is near unlimited, especially on subreddits with edgy cultures, an influx of newbies who don't understand it and a lot more attention than usual. Why would they bother paying?

>Why would they bother paying? To make super-sure that the currently fashionable unspeakables are well and truly said. Stalinist trolling would have done the job in the past, fascist trolling now. Of course if you can already point at it you might proceed straight to getting some momentum behind the outrage with some astroturfing and making sure there's more than one media story focusing on that very small amount of…

You could, or you could allow the internet to do that bit for you and focus your small team's efforts on much more important things like unwinding trades, securing emergency funding and making excuses to LPs. Forums full of people who've lost a lot of money, are pissed off at a particular company and had a politically incorrect subculture to start off with are not places likely to survive Big Tech's banhammer as everybody here already knows, especially if newbies are flocking to them looking for stock tips or lolz.

Genuinely baffled why so many HNers have spent the last couple of days forgetting everything they know about how the internet actually works to imagine that hedge funds whose couple of dozen employees are busy firefighting are somehow controlling the conversation.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#425

Post by llampx »

jonathankoren wrote: post #144
morlockabove wrote: post #115

Earlier quoted context omitted.

Bro just build your own AWS

Bro. You don’t need AWS. You need a server. People did this. For decades.

You need Cloudflare though. And where are you going to host the server?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#426

Post by bufferoverflow »

cambalache wrote: post #268

The big Internet challenge for the next 3-4 years is to completely decentralize the big social networks. It is not a matter of technology though. You need people rioting, the governments having the balls to do it or a combination of both.

It is a matter of technology. Groups that get banned on regular social media will move to these new next gen social networks, and (almost) everyone else will stay on the old ones.

Giant echo chambers will form. But only the new ones will be uncensorable and free.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#427

Post by girvo »

jb775 wrote: post #272
wvenable wrote: post #110

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…

You’ve posted this comment multiple times — copy pasted even. Got an axe to grind?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#430

Post by swebs »

concordDance wrote: post #416
google234123 wrote: post #32

Earlier quoted context omitted.

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 it illegal to make your own financial system? I'm under the impression that it's one of the big levers of power the US government has (those "sanctions" you hear about), can't imagine them letting it be weakened.

As far as I know, its not illegal to use bitcoin.
Post reply on HN