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Facebook shuts popular stock trading group amid GameStop frenzy

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Re: Facebook shuts popular stock trading group amid GameStop frenzy

#71
post #49
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.

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 few shills to jump into the group ramp up the BS and a few others to jump into the group and take offense at every little thing might just be what it takes to overwhelm the mods.

Not Facebook collusion, just a little discourse sabotage.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#72
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...

That’s really encouraging to hear

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#73
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.

That's a new one. I'm surprised they didn't go with the usual "hate speech" or "white supremacy".

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#74

I can see why shutting down far right wing extremist groups can be justified (or for that matter, far left wing extremists as well). But some folks meme'ing about stocks? Come on. Edit: If you're spewing hatred on me for some kind of retribution, shame on you. This isn't a place for that.

Fence-sitters like you are who gave them this power in the first place. Free speech is not "ban who you don't like but allow what I like." It's all or nothing.

> It's all or nothing.

This is demonstrably mistaken. Look, here's an entire Wikipedia article on limits to free speech in the US: https://en.wikipedia.org/wiki/United_States_free_speech_exce...

And if you're talking about the ill-defined philosopical concept of "free speech", that's also mistaken. Free speech is a subservient value in pursuit of free society; if an instance of speech would do damage to the freedoms of others (e.g. slander) then it is morally just for that speech to be forbidden.

Black-and-white thinking isn't the recourse here. Free speech is a nuanced topic, and not as cut-and-dry as you have been led to believe.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#75

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…

It's much better to argue that FB is a monopoly than a natural monopoly. It's not at all obvious why FB cannot instantly die like all social media companies before. I'm not sure what inspiration is hoped by linking to Wikipedia on a fiercely discussed issue.

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

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#76
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 seems to be the one of the least bad of the social/ messaging platforms.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#77

Earlier quoted context omitted.

Facebook is kind of fucked both ways tbh. If they don't remove anything they get blasted for hosting violence and abuse and if they remove too much they get blasted for censorship. Its impossible for them to remove just the right amount of stuff since thats subjective and they could never train a million moderators on how to apply it. I think the real solution here is we need to break up the social media companies. H…

If we can get federated solutions to be nice enough, maybe that'll do it.

[deleted]

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#78
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."

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#79
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.

Make the rules arbitrary and impossible to follow, then selectively enforce them. Oldest trick in the book, works like a charm.

Re: Facebook shuts popular stock trading group amid GameStop frenzy

#80
post #64

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

Isn't funny when the lowest common denominator (or whatever is called in english) just rules everything around you?

"We cook your meals, we haul your trash, we connect your calls, we drive your ambulances, we guard you while you sleep." - Tyler Durdin
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