[johnvanommen]

> It appears they've been associated with a lot of hype/fear copy-paste companies that offer highly inflated monthly access to their trades and research. Note that they were named "Game of Trades" before rebranding.

I really wish that people would wake up to the danger posed by meme stock BS “leaking” into the general markets.

Just as voters are responsible for changes in society, uninformed investors can impact society too, especially when they’re amplifying their purchasing power via leverage.

For instance, I’ve been buying real estate forever, and I’ve enjoyed the Reventure app.

But I’ve REALLY noticed that his YT videos are exclusively doom and gloom.

This ceaseless negativity moves markets, just as the irrational exuberance for real estate in 2005 moved markets.

But the exuberance for real estate was driven by people who were buying real estate.

The endless doom and gloom of YT finance videos is for a much different reason:

It drives page views.

That’s not a good thing. Because it’s really easy to get swept up in the negativity. And that negativity has a downstream effect, where it’s often used to convince people to invest in things that the YouTuber is promoting.

Basically, I don’t know if we need an “SEC for YouTube,” but we might.

Yes, I know we already have an SEC for YouTube (it’s the SEC), but nearly none of the people doling out financial advice on YT are trained professionals. It’s the fundamental defect of internet advice; who to trust?

[sporadicism]

> his YT videos are exclusively doom and gloom

Why do you suppose that is? Why is there an insatiable desire for negative news about real estate?

[zbentley]

Misinformation and mass hysteria suck, I agree. But if the amplification of the sky-is-falling-flavor-of-the-week braindead youtuber take can materially imperil financial markets, the stability of that system was always doomed.

An “SEC for YouTube” can’t prevent shit if the lever of influence is already that long. It might be able to keep a lot of meme investor idiots from losing their shirts, but that has to be weighed against the historically evident risks of having what amounts to a ministry of truth/state propaganda regulator.

[AnimalMuppet]

I remember sky-is-falling-flavor-of-the-week newsletters from the 1970s; they probably go back further than that, but I don't remember firsthand. The difference is that YouTube lets millions of people find this without either having to subscribe to the newsletter, or the newsletter having to figure out who they are and send them a free copy.

In other words, what's different is that the gain is higher. The system was not always doomed, because the gain wasn't this high. Now that it is this high, the system may now be doomed.