> Meta are the only case where we have substantiated allegations of a company being aware of a large, negative impact on society
Robinhood has entered the chat
Why would one specific industry be better? The toxic people will migrate to that industry and profit at the expense of society. It’s market efficiency at work.
I do think an industry is often shaped by the early leaders or group of people around them. Those people shape the dominant company in that space, and then go off to spread that culture in other companies that they start or join. And, competitors are often looking to the dominant company and trying to emulate that company.
> Early OpenAI set the tone of safe, open-source AI.
Early OpenAI told a bunch of lies that even (some of) their most-ardent fans are now seeing through. They didn't start off good and become the villain.
Gamifying day trading is just turning the retail market into gambling. Obvious objections will be that this has been possible for a long time now. But never did I know young men to casually play the market day to day like Wall Street Bets do now the way they would follow sports in the past.
Exploring unsophisticated investors. Trading on margin used to be for extremely experienced and educated people working for a large financial institution. The risk of margin trading is extreme with unlimited losses.
Also, tobacco companies and oil companies famously got into trouble from revelations that they were perfectly aware of their negative impacts. For the gambling and alcohol industry, it probably wouldn't even make the news if some internal report leaked that they were "aware" of their negative impact (as if anyone thought they would not be?)
Social media is way down on the list of companies aware of their negative impact. The negative impact arguably isn't even central to their business model, which it certainly is for the other industries mentioned.
Robinhood has entered the chat
Why would one specific industry be better? The toxic people will migrate to that industry and profit at the expense of society. It’s market efficiency at work.