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Whereas Hacker News is just a bunch of people who don't know what they're doing pretending to be experts to influence the actual idiots. You can find charlatans

Whereas Hacker News is just a bunch of people who don't know what they're doing pretending to be experts to influence the actual idiots. You can find charlatans pretty much anywhere money or people with money congregate.

dcolkitt 6y ago
The difference is the HN hype train might cause you some headaches from picking an immature tech stack. Whereas the WSB echo chamber has literally ruined thousands of people's lives and retirements.
- sokoloff 6y ago
  If someone is going to ruin their life or retirement based proximately to posts in a Reddit forum, it’s very hard for me to assign root cause to the Reddit forum. At most that’s the first or second “Why?” but there is surely a deeper issue.
  - quxpar 6y ago
    Many people were prudent blue-chip investors whose retirement was ruined by the housing crisis. There doesn't seem to be any 'smart money', just 'big money'.
    - sokoloff 6y ago
      Blue chips were down around 40% in 2008. If you left your money in, you were back even by 2012. Even if you were slowly withdrawing some starting in December 2008 (the worst of it), you were even by 2013. I have no doubt there exists someone who was ruined by 2008, but most prudent blue chip investors were not.
  - 015a 6y ago
    Who in here ever said they were trying to assign a root cause or place blame? I just said that they're icky.
- dgfitz 6y ago
  There seems to be the narrative that WSB ruined the retirement accounts of thousands of people. Why do we not hold the person responsible for their actions? Why is it never the fault of the person, but instead "the ephemeral entity" who is to blame?
- notJim 6y ago
  Do you have any proof of this? From what I've seen people are mostly aware they're gambling (it's in the name after all.)
  - dcolkitt 6y ago
    I think you see that pattern in a lot of subcultures that glorify destructive and reckless behavior. Look at hard drug subreddits, like /r/stims, or binge drinking fraternity culture, or that Facebook group where everyone points loaded guns at their crotch. Participants will willingly acknowledge that the behavior is destructive or reckless. But they do so in a way that glorifies it. "Woah, I totally blacked out again last night. So crazy. High Five". When the most self-destructive member receives the most attention that acts as a pretty powerful incentive. Humans are social animals. And the way most of us avoid bad decisions day-to-day is to look at our peer group and think "would this be something that a normal, respectable person would do". When you create a subculture filled with self-destructive people, it normalizes and encourages self-destructive behavior, even when people rationally know they shouldn't be engaging in it.

dcolkitt 6y ago

The difference is the HN hype train might cause you some headaches from picking an immature tech stack. Whereas the WSB echo chamber has literally ruined thousands of people's lives and retirements.

sokoloff 6y ago
If someone is going to ruin their life or retirement based proximately to posts in a Reddit forum, it’s very hard for me to assign root cause to the Reddit forum. At most that’s the first or second “Why?” but there is surely a deeper issue.
- quxpar 6y ago
  Many people were prudent blue-chip investors whose retirement was ruined by the housing crisis. There doesn't seem to be any 'smart money', just 'big money'.
  - sokoloff 6y ago
    Blue chips were down around 40% in 2008. If you left your money in, you were back even by 2012. Even if you were slowly withdrawing some starting in December 2008 (the worst of it), you were even by 2013. I have no doubt there exists someone who was ruined by 2008, but most prudent blue chip investors were not.
- 015a 6y ago
  Who in here ever said they were trying to assign a root cause or place blame? I just said that they're icky.
dgfitz 6y ago
There seems to be the narrative that WSB ruined the retirement accounts of thousands of people. Why do we not hold the person responsible for their actions? Why is it never the fault of the person, but instead "the ephemeral entity" who is to blame?
notJim 6y ago
Do you have any proof of this? From what I've seen people are mostly aware they're gambling (it's in the name after all.)
- dcolkitt 6y ago
  I think you see that pattern in a lot of subcultures that glorify destructive and reckless behavior. Look at hard drug subreddits, like /r/stims, or binge drinking fraternity culture, or that Facebook group where everyone points loaded guns at their crotch. Participants will willingly acknowledge that the behavior is destructive or reckless. But they do so in a way that glorifies it. "Woah, I totally blacked out again last night. So crazy. High Five". When the most self-destructive member receives the most attention that acts as a pretty powerful incentive. Humans are social animals. And the way most of us avoid bad decisions day-to-day is to look at our peer group and think "would this be something that a normal, respectable person would do". When you create a subculture filled with self-destructive people, it normalizes and encourages self-destructive behavior, even when people rationally know they shouldn't be engaging in it.