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Facebook shuts popular stock trading group amid GameStop frenzy

reuters.com

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Re: Facebook shuts popular stock trading group amid GameStop frenzy

#221

Post by pylua »

paxys wrote: 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.

They should really ban links and cut ties to twitter then. Has anyone seen want people post on there? It's crazy.

My problem is that they bully small platforms but big platforms that also have huge problems with their users must be too big too fail.

They should probably just shut themselves down also because of the capitol riots.

Do the right thing facebook, shut yourself down.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#222

Post by remoteLily »

WClayFerguson wrote: post #197
remoteLily wrote: post #188

Earlier quoted context omitted.

This is free speech in action. Sites should be able to moderate as they see fit. In return, their users are free to protest the removal of some speech, or protest the tolerance of some speech. And then companies respond to those protests. The government doesn't get involved. It's messy, but there's no way around the mess without forcing companies to host content they don't want to host. Freedom of association is as i…

[flagged]

Should privately owned sites be allowed to control what content they display or should they be forced to accept whatever their users post? And we're talking about endpoints, not the carriers represented by ISPs and phone companies.

It's funny to me when conservatives talk about the sanctity of private property, and then want to force the owners and publishers of certain sites to have zero control over their own property. You can't have it both ways.

Also funny to me that conservatives censor like mad in their own properties. Parler, /r/conservative, RedState, and too many others to count, would delete posts from people like me on sight. Do you consider that censorship too, or is that acceptable?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#223

Post by shripadk »

userbinator wrote: post #78
andy_ppp wrote: 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."

> where numerous --highly downvoted-- comments quite correctly predicted what was coming.

I got banned for "flamewar" when I literally was opposing this form of censorship in those articles. Then everyone were quite happy with Trump/far-right groups being banned and did not care about the big picture. Censorship is real. It is here. Big Tech has tasted power it will never want to let go of. The quicker we realize this the better!

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#224

Post by Lammy »

lenkite wrote: post #185
dalbasal wrote: post #63

Earlier quoted context omitted.

When everyone is a criminal, anyone can be arrested. The reddit mods have basically made this charge, in their own special WSB way. It's impossible for moderators to fully control large groups, subs and such. Some bannable comments will always be present, and they are limited by whatever moderation tools they get from reddit. Meanwhile, the idea that discord, reddit (throttled not banned) and FB all simultaneously an…

You just need a few saboteurs coming in and posting "hate speech" on your forum and then reporting the same. Before you know it, you are banned, you have (several) news articles objectifying you as nazis and you are doxxed to high-heaven. The only way you can get back is if you are "friends" with the big-boys or the mainstream media.

> if you are "friends" with the big-boys or the mainstream media

For example: Bohemian Club was originally founded by San Francisco newspapermen in 1872, and you can see how many friends they have in very very high places. Manufacturing Consent is not a new phenomenon.

https://web.archive.org/web/20110720044742/http://library.so...

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#225

Post by PragmaticPulp »

Avicebron wrote: post #41
jkewnfjkwnef wrote: post #6

> Facebook suspended his group on Jan. 7 after labeling it a “dangerous organization,” according to correspondence seen by Reuters, though the company reinstated its privileges after he appealed to contacts there. What a joke. They're not even pretending to do it under the guise of hate speech anymore.

The definition of a "dangerous organization" now is whether it can lighten wealthy wallets

When the music stops, it's also going to lighten the wallets of many of the amateur investors.

These groups quickly degrade into memes about how buying and holding these stocks forever will make people rich. They chastise anyone who even considers mentioning an exit strategy.

When the stock begins to decline, early investors in these groups will quietly exit while using the group to convince others to "buy the dip" and have "diamond hands".

Don't believe the narrative that this is a simple transfer of wealth from wealthy banks to Redditors. It's also a massive transfer of wealth from Redditors arriving late to the game who aren't in on the joke to those who are.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#226

Post by colllectorof »

aquaticsunset wrote: post #70
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…

Discord has since taken the stance of helping the mods, instead of permaban. I liked hearing that news earlier today. https://www.theverge.com/2021/1/28/22254339/discord-r-wallst...

Discord is probing how much censorship they can get away with. This is a standard tactic for social media companies today. They ban first then backpedal later if there is too much backlash. This helps them normalize censorship while minimizing reputation loss.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#227

Post by kibwen »

WClayFerguson wrote: post #184
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

[flagged]

I've seen you around a lot today, and based on your recurring comments it seems like you are actually in some sort of delusional state. I encourage you to seek help. If you happen to be a Q follower, please unplug.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#228

Post by mcosta »

ttt0 wrote: post #83
dudul wrote: post #55

Earlier quoted context omitted.

Are there still islands that have not been claimed by a country?

No one is stopping you from building your own island. Stop whining.

Italy does not agree with that.

https://en.wikipedia.org/wiki/Republic_of_Rose_Island

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#229

Post by fractionalhare »

ogre_codes wrote: post #71
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…

> My general sense is that WSB works hard to moderate within its sensibility so it stays enjoyable, but with the big influx, I’d bet Facebook and Discord are either reacting to behavior which is slipping past the WSB mods due to the influxes, This is possible, they are a victim of their own success in a way... or The banks are looking for a way—any way—to shut them down. This is costing millions of dollars. Paying a…

What banks? And why banks? Banks are not involved in the short squeezes at all.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#230

Post by graeme »

Const-me wrote: post #61

Facebook is a natural monopoly: https://en.wikipedia.org/wiki/Natural_monopoly No matter how they treat users, people won't leave due to network effect. I don't believe the problem is solvable with more tech or free market. I think the only way forward is political, with laws and regulations. Long ago railroad networks, water pipes networks, and landline phone networks were private companies free to do whatever they…

What? Facebook obviously isn’t a natural monopoly. WSB is mainly on reddit, was active on discord, and congregates elsewhere.

I don’t think Facebook should have shut down WSB but that doesn’t make them a monopoly.

As for monopoly in general, there’s Tiktok, Snapchat. Clubhouse just raised a big round.

The blue facebook app is actually anything but a monopoly, as Instagram (a facebook property) gets much more enthusiasm. There’s no “natural” monopoly for Facebook blue there.

It’s easy to pick a concept and try to apply it everywhere, but Facebook can act objectionally without being “a natural monopoly”.

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