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Comment by jkewnfjkwnef | Hacker News Reader

> Facebook suspended his group on Jan. 7 after labeling it a “dangerous organization,” according to correspondence seen by Reuters, though the company reinstated its privileges after he appealed to contacts there.

What a joke. They're not even pretending to do it under the guise of hate speech anymore.

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The definition of a "dangerous organization" now is whether it can lighten wealthy wallets

When the music stops, it's also going to lighten the wallets of many of the amateur investors.

These groups quickly degrade into memes about how buying and holding these stocks forever will make people rich. They chastise anyone who even considers mentioning an exit strategy.

When the stock begins to decline, early investors in these groups will quietly exit while using the group to convince others to "buy the dip" and have "diamond hands".

Don't believe the narrative that this is a simple transfer of wealth from wealthy banks to Redditors. It's also a massive transfer of wealth from Redditors arriving late to the game who aren't in on the joke to those who are.

That's not really what this is about though. It's not about pardon the pun..Robin hooding the wealth from the rich to the poor, it's about casting light on practices that are disproportionately in favor of the wealthy. Hence bans on groups trying to do this in clever ways.

That’s the narrative they’re using to convince new players to hold the bag. It’s not true, though.

Do you really think Redditors are YOLOing thousands of dollars into a stock with the understanding that they’re going to lose most of it? Are they really spending thousands of dollars on some laughs?

No, they’ve been convinced that this trade is free money. They’ve also been convinced this money is coming from evil bad guys, ignoring the influx of cash from fellow Redditors.

Nope, a lot of the wallstreetbets community are in this because they recognize that squeezing an over-leveraged short position will make a stock go vertical until bankruptcy or govt intervention.

I think they absolutely know they can lose it all. But the risk/reward ratio was so amazing it made sense to throw money at it and see what happens.

Many of them constantly suffer the consequences already but the street is not in it for protecting them. The street wants their cash into their own pocket.

> When the stock begins to decline, early investors in these groups will quietly exit while using the group to convince others to "buy the dip" and have "diamond hands".

Haven't they been pretty candid about saying "when the short interest decreases it's every man for himself?"

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