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Now, let’s apply the Gell-Mann amnesia analysis to this insight: If this is true on trading forums, what other forums is it true on? Is it true on technology

• filoleg 3y ago
  > Is it true on technology forums? Are 98% of participants in tech forums making bad engineering decisions? Are they upvoting things that confirm their beliefs? One of the main differences is that users on technology forums (thinking of something more like HN rather than r/technology or other technology-related subreddits) are typically professionally employed in those fields. So while the advice on tech forums might not be the best, it is usually not asinine or downright moronic. As for trading forums? Typically they are overwhelmingly filled with people who have never even been employed in finance in any capacity at all, and it definitely shows.
• FerCala 3y ago
  This is a pretty good question. I wonder, where else would this apply? Also how does the pareto principle work here? 20% of the people produce 80% of the outcome, so the finfluencers are the 20% that produce 80% of the "advice" on forums and social media, which is based on the feedback that 80% of the people give which is based on their already established beliefs, because the other 20% of the people there are the ones that actually know stuff but aren't big enough to contrarest the 80%.