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I think for the average consumer the idea of purchasing stock on a whim, let alone shorting a stock, is an alien and uninvitingly risky act. A site that asks me
by RodgerTheGreat 10y ago
I think for the average consumer the idea of purchasing stock on a whim, let alone shorting a stock, is an alien and uninvitingly risky act. A site that asks me to follow some instructions to spend $100 to help bring down big F would send off all kinds of mental alarm bells. There could be money to be made, but I think profiting from Facebook's loss muddies the issue.
- gooseus 10y agoTrue, but like you said, most of the ethical arguments against Facebook are preaching to the choir. Sad as it is, money (even the chance of it) typically motivates more effectively than ethics. I think if there are enough people willing to go through a convoluted process to help a Nigerian prince that it becomes a meme, then there are plenty of people who would be willing to go through the perfectly legitimate process of opening an E-Trade or Charles-Schwabb account and buying PUT options. Everything on the site would be verifiable by any financial advisor, though they may not understand/agree with the overall strategy. And really this is just my personal musings, I have plenty of my own doubts otherwise I would be building this site and not openly sharing and commenting about it on HN. ... Of course, if some people here did think it was viable I wouldn't take much convincing to start putting it together...