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Coll@awful.systems to TechTakes@awful.systemsEnglish · 30 days ago

How prediction markets create harmful outcomes: a case study

bobjacobs.substack.com

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How prediction markets create harmful outcomes: a case study

bobjacobs.substack.com

Coll@awful.systems to TechTakes@awful.systemsEnglish · 30 days ago
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What sport scandals can teach us about legalizing prediction markets
  • Coll@awful.systemsOP
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    30 days ago

    people without disposable income are now excluded

    The article does say/link:

    I’ve previously talked about how it may not always be ethical to require people to bet on their beliefs, and talked about how the interests of rich people could bias certain prediction markets

    As for

    The bullshit artist prevention also doesnt work

    In the footnote it does say:

    This doesn’t work for very longterm bets, and it also wouldn’t convince everyone, since conspiracy theorists still exist. Still, I expect it to be helpful on average.

    Although there’s likely still an overestimation of how much it would help

    • YourNetworkIsHaunted@awful.systems
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      30 days ago

      I started reading the post about wealth bias and was immediately distracted by the fact that they’re trying to call a government based on prediction markets a “futarchy” which speaks to these people being entirely the wrong kind of terminally online.

      • bitofhope@awful.systems
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        30 days ago

        Hell yeah rule by dickgirls

      • nev@bananachips.club
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        29 days ago

        @YourNetworkIsHaunted @Collectivist Oh no. Oh noooooooo

        • Angela Glansbury 🚽@todon.nl
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          27 days ago

          @nev @YourNetworkIsHaunted @Collectivist
          here’s someone who doesn’t want to be ruled by the futureari

          • nev@bananachips.club
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            27 days ago

            @floppyplopper @YourNetworkIsHaunted @Collectivist i welcome our new rationalist gambler dickgirl overlords

    • Soyweiser@awful.systems
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      29 days ago

      I saw those but I think it totally removes the pros, also my second complaint is that conmen would simply not join, and this will not expose them as frauds and they cant be made to join as forced betting on yourself is a crazy idea. (Also increases upfront costs for everyone more).

      It is all very much wargames.

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Big brain tech dude got yet another clueless take over at HackerNews etc? Here’s the place to vent. Orange site, VC foolishness, all welcome.

This is not debate club. Unless it’s amusing debate.

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