Social platform X is good when it bans the group i'm against. It's power and influence of free speech is in check.
Social platform X is bad when it bans the group i support. It's power and influence of free speech is not in check.
Facebook shuts popular stock trading group amid GameStop frenzy
371–380 of 540 posts
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#372Earlier quoted context omitted.
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…
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…
Why would you even bring in partisan politics? Sounds like lack of principles, and total ignorance how moderation, admin rights, privatization and rights of association works.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#373Earlier quoted context omitted.
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…
From what I gather in WSB (I lurk there a lot) it seems more that a lot of people are very aware that money will change hands, might go into other rich people's pockets but they simply don't care, if they fuck up one or more rich folks while enriching others, they don't care. If some normal people make a lot of money out of this they are happy enough.
It's fascinating to see how many people really just want to fuck with the rich and how many care about normal people getting life-changing money. It's much more altruistic than I imagined.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#374There used to be a guy on Twitter/Facebook/other social media who kept harping about how the system was rigged....
" Eschew flamebait. Don't introduce flamewar topics unless you have something genuinely new to say. Avoid unrelated controversies and generic tangents. " https://news.ycombinator.com/newsguidelines.html
@dang, I appreciate all your work moderating here, I'm sure it's pretty thankless at the best of times, but you do keep this place one of the best places on the internet for technical discussion. So thank you for that.
That being said, I disagree with the assessment of my comment. Those of us (and there were many) who warned about this escalating when Trump was censored and deplatformed were downvoted and flagged at the time, amidst lots of crowing and victory clapping from people who fully believed the censorship only applied to one individual and was acceptable.
We've seen in the past 2 weeks a huge escalation - the British Socialist pages on FB, other left-leaning sites, and now of course watering holes related to WallStreetBets. We're fortunate to see this history happen in real time, so hopefully we can course-correct, as our forebears did, but without the longer timeline and through much more horrible circumstances.
Facebook used its power unilaterally to shut down yet another group of people. Whether we agree with the opinions of that group or not is not the point - the fact that this can happen, is happening, and is being supported by large swathes of people who should be more aware of where this path leads us, is very worrying.
Reminding people that just a few weeks ago, when concern about the Trump censorship was resoundingly dismissed, that that was the same as the censorship of other groups today, is important.
I'll continue to do that, because we need to deviate from this path we as a collective seem to be walking down.
Respectfully,
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#375Good. Beginning of end for FB.
I see real opportunity for big platform here who doesn't do such PC kind of thing. I hope someone build truly neutral platform that supports both right wing and left wing politics , retail traders and wallstreet big players ... plus and minus.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#376Earlier quoted context omitted.
And when you do those things, they will be shutdown. Bye bye Parlor.
FYI by your own logic, you have no right to be upset about the RobinHood GME situation. Per your own logic, RobinHood is a private company, and they can do whatever they want...If you don't like it, you can build your own RobinHood!
RH is subject to a ton of federal regulations that social media isn’t. They legally cannot cut off one set off investors in order to enrich another. It’s a felony. We are not discussing free speech here.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#377Earlier quoted context omitted.
Perhaps, but not as encouraging as a migration to self-hosted Matrix servers on traditional paid dedicated/virtual server hosting that's much less interested in policing its customers' content than platforms are.
The thing with me is, WSB is a group of what? A few million at least? I saw that they were up to 1.2 million maybe yesterday. And they're having a hard time on most if not all platforms. If not technically, then in terms of some form of censorship (as is the case here). There was the Discord issue, this Facebook issue. I've heard Reddit devs has been helpful with scaling r/wallstreetbets, but even still, the number o…
It's a great irony people will stick it to the man using a private closed walled garden. Pump and dump is market manipulation. We all know the system will mitigate, both for survival but also stability and preventing bubbles.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#378> 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…
Out of morbid curiosity I was looking for all these places from to Facebook to Discord servers popping up and one obvious strong topic was about 'sticking it to wall street jews' so you can imagine where it's going.
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#379I have a question to all the HN commenters who were celebrating openly when Twitter et al. banned Trump: are you happy now? Is this really who you want in charge of what speech is allowed on public forums? It only took 2 weeks and now Facebook has extended their censorship to stock trading groups. Who's next?
Re: Facebook shuts popular stock trading group amid GameStop frenzy
#380Earlier 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…
Absolutely! I'm not sure why you replied to my comment with this but I totally believe that Facebook doesn't have any legal or moral requirement to host anything they don't want to. They could literally just punt me tomorrow because they don't like my name and that's their right. Especially because there is no commercial or contractual relationship between us. I am not a customer of Facebook. If you pay for hosting t…
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 very vague, especially possible reasons for account suspension are very, very vague. They refer user to some "community standards" and it is not clear, if those "standards" are part of the contract or not.
In my opinion, the first thing that should be changed is to force Facebook and other services to provide a clear, formal contract that would state what are duties of both contract parts, what rights they have, etc. Stuff that each normal contract has. No mumbling about "community", etc.
Contract should be something that is enforceable and has clear appeal path and so on. If I don't agree with Facebook I should be able to court and refer to something that is specific and well defined, not some Mark Zuckerberg views on what is good or bad.