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Facebook shuts popular stock trading group amid GameStop frenzy

reuters.com

431–440 of 540 posts

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#431
post #3

It was fun when Trump was banned from Twitter, but now I’m mad about WSB!!

I implore everyone to go re-read all the HN articles about Trump and far-right deplatforming where numerous --highly downvoted-- comments quite correctly predicted what was coming. Trump was "only a test."

Alex Jones was the test. Trump was their show of force. If you can "cancel" the president of the USA, you can cancel anyone. The big tech cartel sent a message that they're the new dictators of the flow of information.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#432
Having been on the internet a long time I can confidently say that WSB's "culture" is just old internet culture based on the descriptions in these threads. Metahumor and offensive words are nothing new. This confusing humor is alongside others like 4chan. When normal people see that kind of humor and culture they are immediately offended because it doesn't really match anything in reality. Normal people don't go around using those words that way unless they're 13. While it's possible an influx of new users drives up the number of people joining, thus creating a squeeze on the number of people learning to adapt to that culture and thusly carrying that humor too far, this is nothing out of the ordinary in the world other than that Facebook now deems those words hate speech (assuming what people are commenting on is what they got banned for.)

There are likely people on this forum who would reject that culture because of their ideals. Those words fit right into a category called "ableism" whether you use them for humor or not. You're not fighting some hedge companies paid troll machines or whatever else you can dream up. What's happening to WSBs is more tantamount to what happened to the internet and many small forums back in the late 2000s when Facebook and Twitter signed on millions of people who had never used the internet before. What you're fighting is people who want the internet to reflect reality.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#433
I never though id say this, but quality of discussion on HN was disssapointing and lower than on reddit lately.

Here the comments seem full of old chestnuts like 'it's a private company, they do what they want' and 'WSB is manupulating the market'

The reddit is actually discussing the core of the matter and their next steps.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#434

Earlier quoted context omitted.

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

Yes. They are a private company. Yes they can do what they want. And people can critizise. It was the same with Trump and it is the same now.

No, see, what you don't get is that they're a big company and people really want to use their product, so the rules are different... for some reason, I guess?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#435

Earlier quoted context omitted.

I believe when you sign up to Facebook you need to accept some terms and condition clause - this is the contract which is signed between you and Facebook (Facebook is referring that document when users are banned, so apparently they consider this as contract). Facebook earns money thanks to its users, providing them some service so definitely there should be a contract here. Now, when you look on those T&C, they are…

> a clear, formal contract They got "terms & conditions". This is the contract. Formalising another contract would require legal fees. Is every user willing to pay a lawyer $200 to use FB? (and another $200 for Pinterest, $200 for Twitter, etc.) Is every user willing to pay AGAIN another $200 on the next "T&C Update"? If you think $200 is too much, come up with anothe number, and then multiply it by every free servic…

Formalizing contracts doesn't require a lawyer. Of course, it's usually in your best interest to pay a lawyer to review something before you sign it.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#436
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.

The slippery slope is in full effect. Platforms engaged in mass, coordinated de-platformings and people lapped it up because orange man bad. Now the orange man is gone, but the mass coordinated de-platformings still remain and are now being wielded for YOLO reasons. I have been on wsb subreddit and discord server for a long time. There has been zero change in the culture or the type of content or the tone of the conv…

As if it started with orange man or if it was his political program at any point before 2019. He never advocated regulating megacorps and started his whining only when he himself got hit. Cutting and regulating megacorps was always initiative from the left side. Orange man just appropriated that idea recently to ride the outrage train.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#437

Earlier quoted context omitted.

If you manage a community that is even remotely controversial, you’d better start asking your community for their email address, as an emergency backup. Possibly even ask for their phone number. Though it's tempting, don't message them at all. Just hang onto it. Only use it to if your community is banned and you need to start over somewhere else. Then email/text them the location of the new community.

You probably should start an alternative community right away so that you can promote it in the current community and maybe cross-post until you get banned with a warning on each post in the twitter/facebook community.

Exactly. Many controversial instagrammers create a backup instagram account that they only barely use, and occasionally refer to. If their "primary" account gets banned, the backup already exists and has a history.

I suspect people do this with Twitter and other social media accounts as well.

I suspect you can do the same thing with groups. For example when WSB went down there were already backups within minutes.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#438

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 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…

"/r/WSB voluntrily shut themselves down" is the point. It was self-managment. When a tech oligarchy - FB, Twitter, etc. acts together to censor that is my concern. Like there wasn't lot of silly banter or still is on many forums, except this one pissed off hedge fund managers and traditional investors. Mark must have lost money ;)

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#439
post #272

Earlier quoted context omitted.

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…

Since Facebook is a private company They haven't been a private company since 2012.

He problably just mean "not owned by state". The public/private meaning in English is a false friend for lots of non native speakers.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#440
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…

This kind of boils down to preference in humanity as well. Do you prefer a group that makes dick/retard/cuck jokes for laughes or prefer a group that laughed when they ruined the economy, put people out in the streets and coerced the gov to bail them out because they were too important to go out on the street?

Politically correct speech is bankrupt in all forms of ethics and morality if it favors the second group just because they have kinder words. Generally why lots of people are disgusted by PC rhetoric. It's bullshit to its core because it holds no real core value, it just keeps things superficially pretty for the predators of society.

I'm enjoying this ride and wish there was more I could do because it's become bigger than the money. This whole thing is pulling back the curtain and we're getting to see the frail ankles of the wizard.

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