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There’s a subreddit that is literally moving the stock market

(SOCIAL MEDIA) “You can’t change the world on Reddit all day.” Hm. Wanna bet? Some people do bet on whether a stock will rise or fall on Reddit.

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Stock market

I don’t gamble. RIP to Mister Kenny Rogers, but this whole folding, holding, walking, running business is bad for my heart.

So playing the stock market is out for me, but apparently, you don’t even need an accountant to place your bets? The good, if foul mouthed, people of r/WSB aren’t just proving that, their playing and paying outside the traditional trading room is actually moving markets!

The subreddit, full name r/wallstreetbets, is 900,000 users strong, and boasts members that have been involved for years. They show off their stock market wins, losses, jokes, and opinions with varying levels of insight on all contributions.

Ordinarily, this’d just be an interesting collection of folks talking stock, but some of their threads have been shown to have an effect on share prices!

Users don’t just share what and how they’ve traded, they also gamble on what stock prices will do, without actually purchasing or selling any. Options contracts allow users to cast lots for less cash, while retaining the power to show actual purchases as hotter or colder and literally moving the temperature dial on them by word of mouth (and possibly pure conjecture) alone.

So I could hop in, put a marginal amount of money down, and say ‘Stock in Pressure Valve Company X is going to go up since more people are buying bidets in the wake of the Corona-based toilet paper hoarders, and they’re a key component’, then pepper in some off-color jokes about personal hygiene and everyone’s moms to blend in, and potentially wait to collect!

Neat.

After all, not only are surges of humans looking at these bets, web algorithms and cookie crawlers are staring too. It’s chatrooms of the dotcom boom all over again, except more chaotic, more gif-laden, and more monitored by outside forces.

It’d be sinister if the vibe of the sub wasn’t ‘Take literally nothing seriously’. Try discussing ‘chicken tendies’ in a boardroom sometime and see what I mean…although the tide on that might be shifting as well.

The one forbidden thing here is actually using the forum for insider trading. Directly profiting from the rumors gets users exiled, and gets users interacting with them booted too.

Serious business actually DOES occur, who would have thought? I wouldn’t have. Which is why I don’t gamble.

It’s easy to write Reddit off as just an online echo chamber slash cesspool, but when it comes down to it, the American Psychos of the world are on the same internet as the basement-dwellers, and the gap in financial literacy between the two ends of the spectrum is pulling a reverse Pangea.

We need to start recognizing that.

I’m still staying away from 4Chan though.

You can't spell "Together" without TGOT: That Goth Over There. Staff Writer, April Bingham, is that goth; and she's all about building bridges— both metaphorically between artistry and entrepreneurship, and literally with tools she probably shouldn't be allowed to learn how to use.

Social Media

Instagram for Kids: Do kids really need social media that young?

(SOCIAL MEDIA) Instagram for Kids is a terrible idea that we’ll have to contend in the not-so-distant future as social media becomes more prevalent in our lives.

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Young girl playing phone, exploring Instagram for Kids

As a Facebook company, Instagram is used to pushing the envelope, and not always in a good way. One of their most recent initiatives, dubbed “Instagram for Kids”, offers pre-teens the opportunity to use a parent-controlled Instagram version—but global criticism is already mounting.

Instagram has a 13-and-up policy that restricts pre-teen kids from signing up for the app (in theory), but Instagram for Kids would allow younger users to share and interact with photos without the pressure of ads and inappropriate content (again, in theory). The goal behind a social media app for 12-and-unders is curious, given that acceptable teen social media use already starts at, arguably, a younger age than is responsible.

According to Instagram, though, their motivation for the app is simply to reduce access to harmful aspects of the web without instilling FOMO in younger children: “Kids are already online, and want to connect with their family and friends, have fun, and learn. We want to help them do that in a safe and age-appropriate way, and find practical solutions to the ongoing industry problem of kids lying about their age to access apps.”

Instagram also promises to “consult with experts in child development, child safety and mental health, and privacy advocates to inform [the app experience].”

That’s all fine in—and I cannot stress this enough—theory, but several members of the original internal discussion about this version of Instagram acknowledged that existing Instagram users who are under the age of 13 probably won’t switch over to the new platform, making Instagram for Kids obsolete for any illicit users. That leaves only one conclusion: That Instagram for Kids is for a substantially younger audience.

It’s difficult to find a morally upright justification for creating a social media app for, say, 8-year-olds. Parent control or not, the potential for data collection, early technology addiction, and breaches of privacy is very real. Add to that the fact that the children who are likely targeted by this app can’t exactly give informed consent for their information to be shared (not that 13-year-olds can, either, but that’s a different thing), and it starts to look pretty shady.

Instagram is already tangentially responsible for things like false marketing, eating disorders, and mental health decline in otherwise healthy adults. Adding pre-teens to that list is not only irresponsible—it’s morally bankrupt. Please keep your kids off of apps like this.

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Social Media

Reels: Why Instagram can’t compete with TikTok… yet?

(SOCIAL MEDIA) The future for Instagram Reels is uncertain, since even Instagram has acknowledge that TikTok is far ahead of them, but what does it mean for their future?

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Phone camera on stand in foreground with two women filming for TikTok or Instagram reels in the background

If you’re a TikTok user, chances are you’ve scoffed at Instagram’s attempt to compete with the hype. Yes, I’m referring to the Reels feature.

In an attempt to step in and absorb all the TikTok user run-off in August, when Trump announced the TikTok ban, Instagram launched Reels. Short, catchy and sharable clips, Reels are almost exactly like TikTok videos – but are they catching on?

In an interview with The Verge’s “Decoder” podcast, Head of Instagram Adam Mosseri says that he isn’t yet happy with Reels, stating that TikTok is still “way ahead”. While Reels is growing in terms of shared content and consumed content, it’s not nearly where Instagram hoped it would be by this point. Perhaps this is because TikTok is still alive and well. Or perhaps there’s something else to it.

It’s interesting to note that some of the most popular Reels on Instagram are simply reposted TikToks. This poses the question: Is Instagram’s Reels simply a channel where the ‘cream of the crop’ TikTok videos can get posted in a second location and exposed to a new audience, or is it actually a platform for creators?

Mosseri also hints at some sort of consolidation across Instagram’s video features (i.e., IGTV, in-post videos, Reels). Without being entirely sure what that will look like, I’m already skeptical – is this all just another example of Facebook (via Instagram) trying to hold a monopoly on the social media sphere?

My opinion? As long as TikTok is still in operation, it will reign supreme. While the two apps have a ton of overlap, they are simply different cultural spaces. TikTok is a trend-heavy, meta-humor creative space that relies on engagement between users through effect, duets, and other TikTok-exclusive features.

Adversely, Reels is a space for Instagramming millennials and Gen Xers who might be choosing to opt out of TikTok (which has sort of become the cultural epicenter for the younger Gen Zers). The feature might also be used by Insta influencers and creators of all ages who toggle between the two apps (i.e., reposting your viral TikTok on Instagram to gain more traction).

Whatever the reason is for engaging in Reels, I’m fully certain the feature will never amount to the success of TikTok – but I guess we’ll have to wait to see what Instagram has in store for us next.

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How this influencer gained 26k followers during the pandemic

(SOCIAL MEDIA) Becoming an influencer on social media can seem appealing, but it’s not easy. Check out this influencer’s journey and her rise during the pandemic.

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Influencer planning her social media posts.

Meet Carey McDermott – a 28-year-old Boston native – more widely known by her Instagram handle @subjectively_hot. Within a few months, since March, McDermott has accrued a whopping 26k following, and has successfully built her brand around activism, cheeky observations of day-to-day bullshit, and her evident hotness.

“It mostly started as a quarantine project.” Said McDermott, who was furloughed from her job at the start of shelter-in-place. “I had a lot of free time and I wanted to do an Instagram for a while so I thought, ‘I might as well take some pictures of myself.’”

To get started McDermott, used a lot of hashtags relevant to her particular niche to get noticed, and would follow other influencers that used similar hashtags.

“I definitely built a little online community of women, and we all still talk to each other a lot.”

Like many popular influencers, McDermott engages with her audience as much as possible. She is sure to like or reply to positive comments on her pictures, which makes followers feel special and seen, and subsequently more likely to follow and continue following her account. She also relies heavily on some of Instagram’s more interactive features.

When asked why she thinks she has been able to build and retain such a large base in just a few months, McDermott explained: “I think people like my [Instagram] Stories because I do a lot of polls and ask fun questions for people to answer, and then I repost them”.

But it’s not just fun and games for @subjectively_hot – Carey wants to use her account to make some substantial bread.

“I’ve gotten a bunch of products gifted to me in exchange for unpaid ads and I’m hoping to expand that so I can get paid ads and sponsorships. But free products are nice!”

Additionally, McDermott was recently signed with the talent agency the btwn – a monumental achievement which she attributes to her influencer status.

“Having a large Instagram following gave me the confidence to reach out to a modeling brand. After they looked at my Instagram, they signed me without asking for any other pictures.”

To aspiring influencers, McDermott offers this advice:

“Find your niche. Find your brand. Find what makes you unique and be yourself – don’t act like what you think an influencer should act like. People respond to you being authentic and sharing your real life. And definitely find other people in similar niches as you and build connections with them.”

But McDermott also warns against diving too unilaterally into your niche, and stresses the importance of a unique, multi-dimensional online persona.

“[@subjectively_hot] is inherently a plus size account. But a lot of plus size Instagrams are just about being plus size, and are only like, “I’m confident and here’s my body”. I don’t want to post only about body positively all day, I want it to be about me and being hot.”

And you definitely can’t paint this girl in broad strokes. I personally find her online personality hilarious, self-aware, and brutally anti-patriarchal (she explicitly caters to all walks of life minus the straight cis men who, to her dismay, frequent her DMs with unsolicited advice, comments, and pictures). Her meme and TikTok curations are typically some of the silliest, most honest content I see that day and, as her handle suggests, her pictures never fail in their hotness value.

For McDermott, right now is about enjoying her newfound COVID-era celebrityhood. Her next steps for @subjectively_hot include getting paid ads and sponsorships, and figuring out the most effective way to monetize her brand. The recent spike in COVID-19 cases threaten her chances of returning to the place of her former employment in the hospitality industry.

With so many influencers on Instagram and other platforms, some might find it hard to cash in on their internet fame. But with a loyal fanbase addicted to her golden, inspiring personality, I think Carey will do just fine.

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