Sure. I don't mean that it's unequivocally part of a conspiracy. But like I said, It can't go unaddressed. This isn't a Hacker news story about a banned app. It's international news, and the news isn't about WSB's (admittedly) bad language.
Social networks were forced to moderate with the capitol riots. Now they have to moderate left wing mob organization on their platforms to avoid the perception they will only censor the right wing.
This is clearly a slippery slope. Regulate once, regulate twice, and so on...
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.
Rich people go to parties you're not invited to. They close ranks, we should too.
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.
Largely because the "gamestop maneuver" has inflammed an already excitable community and things are likely bubbling over right now in a way that they wouldn't be if people hadn't just bet thousands of dollars on a tulip scam. And let's not euphemize this, it's not a "maneuver", it's market manipulation. Coordinating a collective buy to effect a short squeeze is clear market manipulation. Enticing a horde of gullible…
How does a pump and dump work if you realized your losses before you even bought the stock and never end up selling? In my opinion the value of GME is $0 and that doesn't stop me from wanting to buy more but never selling ever because of the entertainment value.
They've been very public and transparent for all to see about their strategy. It's a very common play when naked shorts are this exposed. The WSB side of this is a distraction. Michael Burry of Big Short fame has been talking this trade and pouring hundreds of millions into this gamma squeeze since the summer.
> naked shorts are this exposed See, this is why someone is going to jail. This explanation is wrong. Someone lied to you, and they probably lied to you to make this look like a sure bet so that you'd buy (and thus pump) a stock that is otherwise going to crash, so that they can unload their position before it does. You got scammed, and the person who did it is guilty of a crime. FWIW: Short leverage higher than 100%…
Stop with the strawman. Everyone buys GME with the expectation of it tanking. People are irrational on purpose.
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…
You want to know what it looks like is happening now though? It looks like these peeps are weaponizing the sub to their own benefit in the name of "sticking it to the man". Everything about this smacks of a massive, crowd sourced "market manipulation" under the guise of righteousness. All the people screaming "YOLO I can't care if I lose X" seem to be missing the fact that their money isn't "lost"; it is ending up in…
>it is ending up in the pockets of a few at their expense.
Everyone is aware of that. The group of people that will get rich are those who bought the stock 2 weeks ago or earlier.
Heck, when someone put their entire life savings in ornamental gourd futures WSB crapped about that person saying how stupid that was. They aren't stupid. They are fully aware of what they are doing.
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.
https://en.wikipedia.org/wiki/HyperNormalisation
I apologize for this; I had high hopes based on mention here, but really thought that documentary was terrible. The word itself is great, but there was about 10 seconds of anything that resembled the levels of reality distortion that are now quite commonplace. I was mostly interested in the Soviet system of full-spectrum propaganda such as staging protests against themselves, which was only mentioned in passing. There was basically no common theme running through it, just a bunch of weird stuff that happened, mostly relating to US foreign policy, mostly blaming it on personalities of republican presidents. It felt like it was itself the sort of propaganda meant to distract from real fundamental problems and place blame on boogeymen, rather than an exposure of the same. I chose it for movie night with people I live with, which was embarrassing for me.
Today I saw: Common Folk: We want a chance at financial stability." Rich Folk: "Invest your money." Common Folk: "OK, GME it is." Rich Folk: "Wait. Not like that. Stop. This clearly must be outlawed."
Characterizing this as a "rich folk" vs "common folk" issue is hilarious. Aside from the early "common folks" that cashed out, there's also plenty of "rich folks" that cashed out as well[1]. As for the losers, well the hedge funds who were shorted initially definitely lost money, although it remains to be seen whether the "rich folk" hedge funds who shorted this week lost money. It also remains to be seen whether the…
GME stock is like a consumable. You buy it and then it "disappears".
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.
The government probably charges your taxes in dollars which makes you dependent on the financial system.
> 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 jus…
Less clever people show up and attach to the “offensive” part without bringing along the “clever” part.
Going a bit off topic, but HNs constant fight against this is its best asset. Sometimes it's annoying to see a funny joke down-voted, but it's so much better than the entire comment section devolving into nonsense like slashdot did >15 years ago.