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Facebook shuts popular stock trading group amid GameStop frenzy

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321–330 of 540 posts

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#321

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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.

Guilt/censorship by association: your group, or ability to post, can be shut down by something someone else entirely did.

We desperately need to abandon centralized platforms. Continuing to donate content to them will never rid us of them.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#322
post #206
post #176

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>pay content moderator salaries! No. They pay the trolls to make content moderation a misery They don't want the content moderated, that's the excuse to shut down the thing that outsmarted them.

Of all the companies to level this accusation at... Facebook has more money than these funds. The biggest bank in the country, JPMorgan, is worth $400B (remember that total assets is not the same thing as net worth); Facebook is worth >$500B. Nobody outsmarted Facebook here. The scale that these funds are operating at is peanuts compared to Facebook's operations.

Why don’t total assets matter here? JP Morgan has 3 trillion under management. Also the valuation of FB is based on it being a going concern whose business has very little to do with manipulation of financial markets.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#323

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The one time I believe you are referring to is when Cloudflare banned the Daily Stormer, which is a far-right, neo-Nazi, white supremacist, misogynist, and Holocaust denial message board website that promoted the genocide of Jews. It went far beyond the domain of free speech into advocating violence against people, not to speak of its horrific hatred and racism. Reason enough for anyone to ban it.

[flagged]

> "But they're really really actually super-duper truly totally bad!" isn't a valid argument, since many, many people can use it and they will.

It is absurdity to make the claim that, since anyone can say anything, no meaningful concept of objectivity can exist. Interesting how often it recurs in "free speech at any cost" argumentation.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#324

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Yes, I can’t believe how they treated the orange man who was such a great warrior in service of truth, justice, and shining American success.

Like the flawless presidents before him. Didn't get his c*ck sucked in the wh. Didn't lie about a tragedy to start a new war. Did other shitty things. It's a joke that Americans act like this guy was the first bad president.

Lol, this wasn’t the first bad President, this was the first openly lawless president since Andrew Jackson.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#325
post #49

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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…

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 the pockets of a few at their expense.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#326

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…

Facebook exists because the boomers are there and the boomers don’t like change, once they die off (and ig degenerates into what FB is) the monopoly is gonna start to topple

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#327

Funny how all of the people spurting out "It's a private company they can do what they want" after banning Donald Trump have now changed their mind about big tech censorship. The precedent of accepted censorship was set and accepted. Deal with it.

I haven't changed my mind.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#329

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I don't think the people who came up with that rule really accounted for one company becoming the main channel of communication for the human race.

People were using the argument five years ago, 4,3,2, yesterday. Whenever one of these monopolies does something to A that B approves of and A objects, B comes out with IAPCTCDWTW. People generally seem love to make excuses for Power when it's stepping on people they don't like, and are then somehow surprised when Power turns around and crushes them.

I never mentioned no sides so I'm not following you here; but to answer to your argument even if the government gets control of FB and decides to silence some group I support (e.g. homosexuals) and therefore I disagree with such decision I still would prefer that control of a main communication platform to be in hands of the government and not random executives, in such case my focus (and people's) would be to have a less homophobic government where at least my vote counts and not some random execs that I have no minor influence upon.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#330

Quick question: is anything stopping GameStop itself from authorizing a whole bunch new shares and selling them at this all-time-high price? I understand the Redditors trust each other, but what makes them think they can trust GameStop?

They can but they have not yet. They’re not going to be able to do it by 29th (doubtful) and it’s a day of max pain.

On the other hand, pissing off a whole bunch of your customers and investors does not seem like a wise idea. Hell, they’ve more money to buy things now.

I should also mention that the GME balance sheet wasn’t even bad back in July, and they’re doing everything to improve it, even without the short squeeze (think closing stores etc).

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