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This is going to make them cross from the "it's a social network, it maybe should have some oversight", to "invite lots of regulation because we're dealing with
by viraptor 3y ago
This is going to make them cross from the "it's a social network, it maybe should have some oversight", to "invite lots of regulation because we're dealing with money directly".
Given the amount of spam/scams already on the platform and the lack of moderation, it's going to be interesting to see how it plays out. But they'll either create a proper risk team or they'll keep getting hit with fines and lawsuits that continue to bleed them.
- wmf 3y agoPaypal, Venmo, and CashApp have gotten away with a lot so why shouldn't Elon try the same thing.
- woodruffw 3y agoPayPal, Venmo, and Cash App all comply with KYC.
- wmf 3y agoEh, maybe. https://hindenburgresearch.com/block/ https://hindenburgresearch.com/block/
- viraptor 3y agoThey're not social platforms that enable/encourage communication and running scams. They also don't have a leader who will YOLO decisions that cause SEC investigations. PayPal also got away with a lot for its size and keeps fighting being classified as a bank. Regulators may not want to risk that grey area again.
- brandonagr2 3y agoWhy do you say there is a lack of moderation? https://blog.twitter.com/en_us/topics/company/2023/maintaining-the-safety-of-x-in-times-of-conflict https://blog.twitter.com/en_us/topics/company/2023/maintaini...
- KingMob 3y agoThat page shows absolute, not relative numbers. I.e., it doesn't reveal how much lower those numbers are post-Musk.
- viraptor 3y agoBecause they let go of a lot of moderation team and I could see my obviously-bannable reports rejected. (Saying some minority doesn't deserve to live, apparently doesn't break rules after the takeover) Also obvious scams are still rampant. Say you have a problem with a crypto wallet and you'll get lots of bots offering "help". Not solved for many years. And yeah, as the sibling comment mentions, those are arbitrary chosen numbers from the company itself. Do you expect them to publicly advertise they're doing badly in some way?
- enriquec 3y agoI think the moderation has gotten far, far better. With dramatically less abusive behavior/speech misinformation - and way more informative. Facebook/instagram/reddit/etc are way way way worse. That moderation team must have been horrible.
- red-iron-pine 3y agoguarantee you it's going to turn into shady money laundering in < 1 year. hell, wouldn't surprise me if that was the goal.