Why it is not acceptable for progressive finance sites to ask about the value of equity or other assets
Progressive finance sites should ask users to quantify the value or potential of their investments and other assets, rather than simply presenting them as investments and assuming the risk of loss, according to a letter published on reddit.com by the International Business Times.
The letter, addressed to reddit’s board of directors, urges the platform’s administrators to “do their best to avoid misleading the community”.
“You have to ask people to quantify risk and return on their investments, otherwise it will only be perceived as a passive investment that you are losing,” the letter said.
“For example, you can say, ‘We have no interest in this stock because its a ‘P’ stock.
The investors in the P shares will not have a positive return.
Similarly, you should not show the investor the return on the stock.
You will not get any value from the investment.”
The letter also warns that “when you show investors the value and potential of the investment, it can be perceived to be a passive one that you have to be afraid of losing.”
The post has received more than 1,000 comments.
“The people of reddit do not want this type of content on their platform,” a reddit spokesman told Quartz.
“It’s not about a lack of transparency or fairness.
They are looking to protect their communities and we have a zero tolerance policy on harassment.”
The Reddit board of executives declined to comment on the letter.
Last month, Reddit removed its subreddit, r/funny, from its platform after complaints that some users posted jokes about suicide.
Users accused the platform of censorship and trolling, with some calling it “harassment”.
Reddit also suspended two of the site’s biggest moderators, Yishan Wong and Andrew Anglin, over a controversial post on their own subreddits.
Yishan and Andrew were banned from Reddit’s site on the same day for posting the content, which included a screenshot of an anti-Semitic meme posted by a user known as “The Nazi” and included a link to an online white supremacist forum.
The ban followed complaints by Reddit users that some comments in a post by the Nazi in question, which was about the Holocaust, were offensive and biased against Jews.
On Wednesday, Reddit CEO Steve Huffman said the company was “looking into” the complaints and that it was working to remove offensive comments.
The board of reddit moderators will also be reviewing content from its community moderators to make sure it does not violate any of Reddit’s guidelines.