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We haven't seen the worst of what gambling and prediction markets will do

derekthompson.org

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Re: We haven't seen the worst of what gambling and prediction markets will do

#211

Post by littlecranky67 »

JumpCrisscross wrote: post #190
littlecranky67 wrote: post #183

Earlier quoted context omitted.

If it is your company then this is fine, it is your money afterall, and can do as you see fit. If you are employed or have co-shareholders, you are managing someone elses money. And you are not supposed to act within your morals, but those of the company. It would be kind of hipocritical to act on your own morals using someone elses money - up to the point where it could be illegal misapropriation. And then taking th…

> It would be kind of hipocritical to act on your own morals using someone elses money - up to the point where it could be illegal misapropriation This is hyperbole. Refusing to hire anyone out of any of the big tech companies is an own goal. But being silly in management is absolutely legal. The only legal obligation I can think of revolves around disclosure, i.e. you should be open with investors and the company ab…

It is not black/white. If you have a qualified candidate that asks less money and reject them over a less-qualified candidate on the sole grounds they worked for a prediction marked, it could be called silly. If the discprancy in qualification and salary demends is high enough and you do this repeatedly, it can be gross misconduct and not only a reason to be fired, but to be held financially liable for the damage.

Re: We haven't seen the worst of what gambling and prediction markets will do

#212

Post by rafterydj »

rustystump wrote: post #173
UqWBcuFx6NV4r wrote: post #127

Earlier quoted context omitted.

[flagged]

Wow. Glad i wont ever work for/with you. Not because i worked at any of those “bad bad” companies but because your take is a horrible sign of what to expect. Like, if it was a pm or leadership person i can kinda understand it. They are the ones pushing direction. But what, some call center support guy is sol because his resume has kelshi on it? Not everyone is in a position to have luxury beliefs.

I definitely think there's a middle ground here, that the commenter to which you are replying may also be alluding. If a human is scanning resumes, job titles tend to be more important than the company, although both are obviously relevant.

So yes, if one is "Senior VP - Engagement Optimization" at e.g. Draft Kings, that would imply a level of culpability for "gambling experience = do not hire".

But if the title is "call center support - kelshi - 6 mo. contract"? Sure. I don't think the policy needs to be as stringent as all that.

Not necessarily disagreeing with either perspective, since they don't seem incompatible to me.

Re: We haven't seen the worst of what gambling and prediction markets will do

#213

Post by stuffn »

socalgal2 wrote: post #194
jackfruitpeel wrote: post #88

The craziest thing here is that online gambling has been legal in the UK and Ireland for many years, and it's been such an obvious negative for those countries — and had been optimized brutally like any other tech product. When I moved over to the US a decade ago, I remember thinking 'well at least they're smart enough to have banned online gambling'. I am very pro personal liberties, but this stuff is weaponized to…

> I am very pro personal liberties, but this stuff is weaponized to prey on a subset of humanity This triggers thoughts. I don't like people being taken advantage of. At the same time, I like my personal liberties. It feels like you can spin this idea for nearly anything. Apparently 25% of alcohol sales are to alcoholics. That sucks and you could spin this has the liquor companies taking advantage, but I have tons of…

The real litmus test for your beliefs is gun rights. Taken to it's logical conclusion you would think that you would be staunchly pro 2A.

Re: We haven't seen the worst of what gambling and prediction markets will do

#214

Post by pixl97 »

hermannj314 wrote: post #83

I got into weather betting markets earlier this year since I figured those can't possibly be rigged, it is automated weather station data yet some groups in the market know the truth a few minutes before everyone else based on the way the markets move. BUT, I stopped on the day that the PHL airport preliminary report said the low of the day was 17 and then later than day the low was raised to 18. The way the market w…

The high speed traders win, and you're not part of the club.

Re: We haven't seen the worst of what gambling and prediction markets will do

#215

Post by goosejuice »

taurath wrote: post #94

The entire country seems built on taking advantage of people, from my vantage point right now. Whether it’s attention, drugs, or business/legal leverage, everyone is out for advantage and they’re not even pretending to care about people they affect.

If this is referring to the US, yes indeed. We're great at the whole free market, fiduciary duty to shareholder bit. We're terrible at using law to manage the negative externalities.

Re: We haven't seen the worst of what gambling and prediction markets will do

#216

Post by InsideOutSanta »

Chris2048 wrote: post #109
jackfruitpeel wrote: post #88

The craziest thing here is that online gambling has been legal in the UK and Ireland for many years, and it's been such an obvious negative for those countries — and had been optimized brutally like any other tech product. When I moved over to the US a decade ago, I remember thinking 'well at least they're smart enough to have banned online gambling'. I am very pro personal liberties, but this stuff is weaponized to…

> made it clear that anyone who has worked on these products should not be hired As in, even a dev, HR, etc person having worked for an online gambling company? I feel this may be a slippery slope..

Everything is a slippery slope to somewhere. That doesn't mean you can't draw lines.

Re: We haven't seen the worst of what gambling and prediction markets will do

#217

Post by Aurornis »

jackfruitpeel wrote: post #88

The craziest thing here is that online gambling has been legal in the UK and Ireland for many years, and it's been such an obvious negative for those countries — and had been optimized brutally like any other tech product. When I moved over to the US a decade ago, I remember thinking 'well at least they're smart enough to have banned online gambling'. I am very pro personal liberties, but this stuff is weaponized to…

> I'm in senior leadership, and have made it clear that anyone who has worked on these products should not be hired.

I do not like gambling or the prevalence of gambling products, but this is not a good thing for you to do.

You should not ban people from your job for reasons that are not relevant to the job you're hiring for. People take jobs for many reasons, including some times simply needing to take the first job they can get in order to pay the bills.

People also change their minds. Working for a gambling product company doesn't mean the person is still pro-gambling.

Re: We haven't seen the worst of what gambling and prediction markets will do

#218

Post by _DeadFred_ »

socalgal2 wrote: post #194
jackfruitpeel wrote: post #88

The craziest thing here is that online gambling has been legal in the UK and Ireland for many years, and it's been such an obvious negative for those countries — and had been optimized brutally like any other tech product. When I moved over to the US a decade ago, I remember thinking 'well at least they're smart enough to have banned online gambling'. I am very pro personal liberties, but this stuff is weaponized to…

> I am very pro personal liberties, but this stuff is weaponized to prey on a subset of humanity This triggers thoughts. I don't like people being taken advantage of. At the same time, I like my personal liberties. It feels like you can spin this idea for nearly anything. Apparently 25% of alcohol sales are to alcoholics. That sucks and you could spin this has the liquor companies taking advantage, but I have tons of…

Alcohol, especially hard alcohol, used to have limits on advertising. Baseball is now literally sponsored by/partnered with Polymarket.

https://www.mlb.com/press-release/press-release-mlb-names-po...

Physical cards don't have the same 'whale' issue as electronic gambling/games on a phone that are designed to get you exactly to the point where you go 'ok, $20 more', that always is your pocket ready to feed that itch. No physical game/liquor store is using that kind of psychology or instant gratification (my understanding is addictiveness tied to action/reward length, with the most addictive things the ones with the most instant grattification?).

Re: We haven't seen the worst of what gambling and prediction markets will do

#219

Post by comprev »

jackfruitpeel wrote: post #88

The craziest thing here is that online gambling has been legal in the UK and Ireland for many years, and it's been such an obvious negative for those countries — and had been optimized brutally like any other tech product. When I moved over to the US a decade ago, I remember thinking 'well at least they're smart enough to have banned online gambling'. I am very pro personal liberties, but this stuff is weaponized to…

Gambling and weapons (or "defence" depending on perspective) are two industries I refuse to work on principle.

On my deathbed I want to look back on life and feel I've made a small positive impact on the world.

Re: We haven't seen the worst of what gambling and prediction markets will do

#220

Post by [deleted] »

UqWBcuFx6NV4r wrote: post #127
bluetidepro wrote: post #104

Earlier quoted context omitted.

> I'm in senior leadership, and have made it clear that anyone who has worked on these products should not be hired. Can't say I agree with that specific take (and find it a bit naive to be honest), unless you're also not hiring anyone from companies like Amazon, Meta, and all the other tech companies that have also ruined/preyed on society in their own way just as much as any gambling app has.

[flagged]

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