David Sacks on WallStreetBets as Parler 2.0 & the slippery slope of censorship

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Brief Summary

Wall Street Bets' Discord ban highlights censorship's dangers and the influence of hedge funds on free speech.

Key points

  • The Threat of Censorship. Censorship begins with popular movements but can quickly turn against them.
  • Weaponizing Rules. Powerful insiders use censorship to silence outsiders and upstarts.

Transcript

wall street bets is parlor 2.0 right and and what happened as soon as wall street bets started which is the the reddit kids they started threatening and they wounded these powerful insiders these rich you know hedge fund magnates what happened they started getting banned off of discord they got discord as a tech company to kick them off how did that happen they've been talking on there for months and all of a sudden just magically right at the critical moment where they're also not allowed to trade their free speech gets cut off that's a that that was deliberate now i'll tell

you how it happens is i guarantee you what these hedge funds did is they went through the discord room and they screenshotted you know any post that they could plausibly characterize as you know hate speech or what have you and you know and and by the way i mean those there's a lot of raunchiness in these rooms but it's not hate speech and it's not organized for the purpose of hate it's organized for the purpose of trades but what they do is they weaponize these censorship rules and they go in and they screenshot and then they give it to discord and they get these

guys kicked off and this is exactly what i've been talking about with censorship it starts with something you like and then becomes something you don't how many of the people who support these you know reddit kids were in favor of de-platforming trump and parlor and now they can see where it goes this is a slippery slope and we've only had to wait three weeks to see where it goes it goes to the same place which is when the people in power get threatened they use these rules they weaponize these rules to shut down the outsiders and the upstarts

that is a problem with censorship that is why you cannot let the beast get started

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