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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

#401

Post by herewegoagain2 »

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…

Such things don't make logical sense to me. So assuming Facebook is a "natural monopoly", it is only so because of millions of people (the voters) choose to use it. Instead of voting for legislation, those people could simply vote with their feet and choose a different social network. There is no need for regulation. (If the people already WANT it, they could simply do it, without government intervention).

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#402

Post by antihero »

piva00 wrote: post #373
Rapzid wrote: post #325

Earlier quoted context omitted.

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 w…

Absolutely. I think generationally we're sick of old rich people owning everything and dictating how things should work, electing backwards idiots, doing things like brexit, and forcing us to rent every god damn part of our lives from them. Democracy is at present failing us hugely, and if something like this can start to hit the ownership class where it hurts, I'm all for it.

I chucked in £30 on Free Trade.

I don't care if I get that money back. I just want to see the rich people suffer a bit, know that they don't have all the power.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#404

Post by EliRivers »

jb775 wrote: post #272
wvenable wrote: post #110

Earlier 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…

Since Facebook is a private company

They haven't been a private company since 2012.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#406

Post by perryizgr8 »

pbourke wrote: post #168
jonny383 wrote: post #131

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’m far more concerned with deleting an entire group than a single account.

How about deleting an entire platform? Were you concerned about that?

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#407

Post by Karsteski »

perryizgr8 wrote: post #98

Facebook is a non governmental company and is absolutely free to decide who is allowed on their platform. If wsb don't like it they can just go and make their own Facebook.

This is such a tone deaf comment that I'm surprised people are still making it. This problem is far deeper than just "go make your own Facebook". It has gotten to the point that these giant corporations are able to influence elections in whatever direction they think is "right", they are able to shut down speech, on what is now a de facto town square, and they are able to deplatform their own competition based on accusations of harbouring "hate speech activists".

Note that the term hate speech is relative, poorly defined and can mean anything, based on the perspective of the individual. What is hate speech to you is not hate speech to another, and vice versa.

I urge you to think more deeply on the topic.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#408

Post by Karsteski »

Meekro wrote: post #92
userbinator wrote: post #78

Earlier quoted context omitted.

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."

Yeah, remember when people were saying "there is no slippery slope, they'll definitely stop at fascists!" Sounds like someone who's never read a history book.

It really does surprise me how few people seem to remember history, and how these things always go. It starts off with "those objections people" and then eventually turns on everyone else. But maybe this time it'll be different I'm sure ;)

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#409

Post by perryizgr8 »

kibwen wrote: post #195
dvt wrote: post #165

Earlier quoted context omitted.

By "generally speaking" I meant in like 99% of regular every-day cases. Heck, I even gave some counter-examples. It just seems you're being uncharitable because the spirit of what I was trying to say I feel was pretty straightforward.

Look, I don't want to bust your balls in particular. We both believe that freedom of speech is generally a good thing and I'm sure you're coming from a good place. But surely you must acknowledge that I should not be free to, for example, dox you right here and now (my freedom of speech is overruled by your expectation of privacy and right to pseudonymity); likewise I should not be free to go around telling all your…

> We both believe that freedom of speech is generally a good thing

I doubt it. Cases in point:

> I should not be free to

> I should not be free to go around telling all your friends

Free speech is absolute by definition, otherwise it is not free. If you don't believe in free speech, you don't believe in free speech. Own up, don't try to weasel around with words. Say it: I do not support free speech.

This is the main issue, people not speaking their mind. Just speak what you feel. Don't worry, we still have some free speech left. You can voice your disregard for the principles of freedom and liberty.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#410

Post by pera »

blhack wrote: post #25

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
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