You’d think if these people read the news outlets they share their stories with that they would have seen one of the articles already because they’re so common.
Crypto scams have overwhelmed the news feeds. I see scams showing up on the front page of my fucking retirement account. Dumb money retail investors chasing fictitious capital are setting off a feeding frenzy.
Tesla, a failed venture living off government subsidies
It’s not a failed venture precisely because it lives off government money. Show me a Fortune 500 company and I’ll show you a large stream of public sector receipts.
Citadel commands something like 8-10% of daily market volume. They’re the textbook Too Big To Fail investor. SEC won’t touch them for that reason alone, although there are plenty of other ideological/conflict of interest reasons, too.
Long term market rate of return is positive (extremely positive of late), where as casino gambling is EV negative.
But options and futures exist as a short term hedge on equity investment. Combine that with the vig Robinhood takes on the front end in the form of higher contract prices, and you end up with an EV negative return - more consistent with high stakes gambling than equity investing.
A lot of the people falling for these scams are straight up mentally ill or disabled.
It’s funny to think of some blowhard yacht guy getting fleeced. Less funny to see an adult with Down’s Syndrome or Schizophrenia or Dementia or a child who got hold of a parent’s credit card and sucked in by some Mr. Beast tier grift get played.
But again, what tangible benefit does that have for the average user?
You have more control over your front-page content. If you don’t want to get a particular feed, you unsubscribe from it.
who feel superior to those that like one form of media over their preferred media
I don’t watch the TikToks. I get my information from a source I know I can trust.
What benefits does federation offer the user? How does the recommendation algorithm give users what they want? How will a decentralised platform perform the kind of centralised events a platform like TikTok is known for?
I might argue that the ability to curate your own content, rather than being plugged into the Main Feed that just front-loads whatever the highest bidder wants shoved into your eyeballs, is a relative improvement to the current Facebook/Google ad-supported algorithm model.
But in the end, it just gives more weight to advertisers and influencers. You have to lure people into subscribing (like old school newspapers/radio/TV had to do) rather than buying visual real estate directly in their eye-line. You’re still going to have InfoWars and Drudge Report and Joe Rogan tier content. Its just something you’re going to be baited into opting into rather than struggling to opt out of.
But it will keep you using the Fediverse as a model longer, because you feel like you’ve got a degree of control (I don’t have to listen to Rogan if I don’t want to). Whereas services like YouTube and Facebook are forcing their users to choose between getting injected with the cheapest, hackeyest swill or to switching providers.
it drains our energy and motivation
All this time, I thought the daily grind of employment - consuming 8-12 hours of my day for someone else’s profit - was what exhausted my free time, limited my opportunities for socializing, and drained my enthusiasm for local organizing. Turns out it was the fifteen minutes of free time between meetings checking current events that was to blame.
It’s like digital weed
So its palliative care for our lack of comprehensive healthcare, but even less effective at the job?
TikTok is popular because it’s addicting, not because it’s useful
TikTok is profitable because it is addictive. But the idea that short-form video is less useful than print or radio is flawed.
I don’t understand why anyone would use this.
For the same reason someone would turn on the TV, download a podcast, or pick up a magazine.
Social media isn’t bad inherently. Addictive algorithms, violation of user privacy, etc. is bad.
Cigarettes aren’t bad for you. It’s just the burning tar and the nicotine.
The wisest choice is no period at all
How hard up are you for Facebook? Like, there’s a technical solution, sure. But a big part of social media’s addictive quality is ease of access.
Making access annoying absolutely will curb teen use.
That’s the nature of privatization. The question isn’t whether we’re building a useful tool but whether someone else is building this Rube Goldberg machine faster.
Market share in what? Doesn’t matter. We have to control it.
Many European companies canceled contracts with US companies because of the NSL risk.
I’d be curious to see who they were. My guess is that they are relatively small and easy enough to circumvent without breaking ties with America as a whole.
But I’m not seeing Exxon, Boeing, or Microsoft pull out of Europe, despite being deeply embedded with sanctioned regimes.
Its an American-based venture, owned and operated by American businessmen. They’re not going to burn their own guys, even if some of them are spooks (no evidence that anyone on the core dev team is a spook, but crazy to think the FSB would have people in and the Five-Eyes guys wouldn’t).
I do wonder how long until we start seeing mainstream code-forks that span geopolitical regions. Will we have a Digital Iron Curtain, with BRICS countries doing their own FOSS branches independently of NATO block?
This is hardly the first time the core Linux code stack has been forked and independently developed. Seems like this is going to invite a Russia-specific development environment that just pulls in updates from the main branch and adds in Russia-internal development (which will likely then be copied by non-Russians and backloaded into the core Linux stack under someone else’s name, because why waste good dev work?)
But the argument appears to be anyone with a Russian-sounding name is getting removed from the core development team, until they can prove to the American team that they aren’t… spooks, I guess? Also
The driver code to which the dropped maintainers contributed remains in place.
So this isn’t such a high security risk that the code is being pulled (presumably because its been vetted and appears beyond repute). This is purely a CYA move to eliminate veterans on the team because they were forthright about their identities.
should be based in a more open, mor asvanced in laws and neutral territory.
Its not clear how a policy of booting people based on their surnames accomplishes this.
There’s an old joke about agents from the CIA and KGB sharing a drink at a pub in Berlin.
“I have to admit, I’m always so impressed by Soviet propaganda. You really know how to get people worked up,” the CIA agent says.
“Thank you,” the KGB says. “We do our best but truly, it’s nothing compared to American propaganda. Your people believe everything your state media tells them.”
The CIA agent drops his drink in shock and disgust. “Thank you friend, but you must be confused… There’s no propaganda in America.”
there are other ways to get those drivers.
Not only will they have back doors, but they’ll be screening for shittier updates and working on hacks that liberate the hardware from proprietary software updates.
Beginning to feel like the good old Internet Wild West over on the eastern internet.
Yes. And just like with Mastodon, Lemmy doesn’t have anywhere close to Bluesky’s use base
He realizes this every couple of years and then he forgets again during the next shareholders meeting