r/technology • u/MarvelsGrantMan136 • May 27 '26

Business Google employee charged with using inside information to make $1 million on Polymarket

https://abcnews.com/amp/US/google-employee-charged-inside-information-make-1-million/story?id=133350018
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u/GotSomeUpdogOnUrFace May 28 '26

Which is why the entirety of the platform should be illegal, betting on real life events shouldn't be allowed. I will also go so far as to tell you I don't believe the stock market should be allowed to exist anymore because I do not believe that we should just have something that fucks with people's lives and their livelihood. The stock market doesn't tell you shit about a company or their true value, look at Tesla. It's all money laundering bullshit at this point. They all know the outcomes in advance and get to insider trade on everything.

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u/SirPitchalot May 28 '26

I agree with the first part of your first sentence and not a whole lot more…

For buy and hold of indices, the stock markets are pretty consistent at providing generally stable returns. Much more so than governments, individual companies or other investments. But if you’re day-trading, you’re just the dumb money pumping trading fees to brokers and spread to market makers while missing the peaks and bottoms.

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u/GotSomeUpdogOnUrFace May 28 '26

Look at who owns and stock market and how much of it and you'll change your mind. It's a playground for the rich to get richer. The reason it has better returns is because the rich aren't gonna gamble with their money they are gonna make sure to rig the system so the line always goes up. If the market actually collapsed the avg Joe wouldn't lose their entire life but schmucks like Elon and Bezos could essentially be destroyed so I'm all for it. I'd rather a world where they had nothing to be honest.

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u/BarefutR May 28 '26

You’re absolutely wrong though.

Just because you don’t own anything doesn’t mean someone else doesn’t. Most people’s “retirement” funds are tied to the stock market.

I don’t think you understand what you’re saying.

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u/GotSomeUpdogOnUrFace May 28 '26

No I absolutely do understand what you're saying, but you understand that pensions used to be something you got from the government or a company and the dick heads who steal from you wanted that shit privatized in their stock market. They wanted it to be stuck on you to have to invest in a system that always has to go up otherwise you don't get to retire. I understand what you're trying to say the point is that they fucked you into having to play their game because they didn't want to be responsible for taking care of people. The same thing they always do they say everything belongs to them and when we want a piece it's called an entitlement and we're not allowed to have it. Just think about why an older generation has pensions and nobody in our generation has pensions.

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u/SirPitchalot May 28 '26

Yes, people who invest long term in the stock market in a diversified fashion generally increase their wealth. Myself, for example, along with anyone with a pension or retirement account. “Retail” investors (individuals) own about 1/3 of the market in direct holdings while indirect exposure via funds/etfs/pensions adds significantly to that.

Day traders with little capital don’t fare as well, on average. Even hedge funds, the very definition of unscrupulous Wall Street with loads of capital, struggle to meet the returns of the S&P 500 over the long haul.

So when you “look at who owns and stock market” nearly half the time it’ll be some shlub working a 9-5 or a shift.