[-] HedyL@awful.systems 5 points 3 weeks ago

I would argue that such things do happen, the cult "Heaven's Gate" probably being one of the most notorious examples. Thankfully, however, this is not a widespread phenomenon.

[-] HedyL@awful.systems 21 points 1 month ago

Yes, even some influential people at my employer have started to peddle the idea that only “old-fashioned” people are still using Google, while all the forward-thinking people are prompting an AI. For this reason alone, I think that negative examples like this one deserve a lot more attention.

[-] HedyL@awful.systems 11 points 2 months ago

From the original article:

Crivello told TechCrunch that out of millions of responses, Lindy only Rickrolled customers twice.

Yes, but how many of them received other similarly "useful" answers to their questions?

[-] HedyL@awful.systems 5 points 9 months ago

After reading the review linked above, I have a strong suspicion that this comment really nails it: https://mastodon.cloud/@Jer@chirp.enworld.org/111892343079408715

It's not intended to convince an outsider to believe as it is to shore up the belief of a believer who is starting to doubt.

[-] HedyL@awful.systems 0 points 10 months ago* (last edited 10 months ago)

Hedge fund managers (and their staff) can read reddit, of course, and they can even participate and - for example - manipulate people into betting on a stock they themselves have a "leveraged long" bet on (or desperately need to dump for whatever reason). It's important to remember that those with the deepest pockets are very likely to win here, and also that hedge funds (and other institutional investors) might have deep pockets in part because they use investment money from everybody's pension funds. In rare cases (such as Gamestop) they may be taken by surprise, but only when there is a very specific attack from an angle they didn't expect, which is hard to replicate systematically IMHO.

Traditional collective action is successful mainly because actual people show up (or refuse to show up at their workplaces) in large numbers. IMHO it's impossible to replicate that via accounts on a trading app and anonymous sock puppets. This is simply not how financial markets work.

Also, if this gets more people addicted to gambling on the stock market (which obviously happened), Wall Street is going to win either way through fees etc.

IMHO, the only way to "win" here is not to play.

[-] HedyL@awful.systems 0 points 10 months ago

I vividly remember how, in the days of Gamestop, even normally reasonable people on the left bought into that "Sticking it to Wall Street" narrative. Sadly, I'm not surprised at how things turned out.

HedyL

joined 1 year ago