Michael Burry is back on Twitter after he received a visit by the SEC and he shut down his Twitter account. So far there is only one Tweet and there are clues as to what he is thinking with his new profile and the hashtags listed. Burry believes that the bubble of all bubbles is about to burst and this is caused by everything from Covid lockdowns, out of control money printing, and massive inflation. The housing market is back to 2008 levels with over priced mortgages being bought up by private corporations and foreign interest. Burry continues to sound the alarm knowing that he is being watched. The man who earned over 100 million from the 2008 housing bubble is now betting against Tesla and other companies that are viewed as safe. If I had to place my trust between Burry and the federal government I would side with Burry. One prints money to prove they are right, while the other puts their money where their beliefs are. It should be obvious to everyone at this point that the system is going to start crashing down, it already is, and just like 2008 we are in the phase where the crew of the titanic are telling us everything is fine and please stay away from the lifeboats, as their friends and family load up to row off into the ocean.
Appropriately enough, Jordan Peterson announced on Twitter that he is backing the formation of a new platform called Thinkspot. There are several hopes and purposes for this platform, providing a town forum where people can comment and have conversations without the threat of being banned or kicked off, and a new payment system to replace Patreon after they started banning creators due to public outcry. The internet is still the wild west and Peterson just started a new town with its own rules and a new sheriff. Criticism has already started to flood in through various news outlets claiming that Peterson will be shadow banning users from having their comments seen in threads. What they fail to see is that this policy solves the Twitter problem. Twitter will remove a person from their platform completely if comments are made that violate their policies, however policies are always changing and they are not uniformly enforced across the platform. Thinkspot has two things going for it that take this kind of policing out of the equation. Users will have to pay to participate, that alone will eliminate many trolls from using the site. Comments will be voted on by other members as to their importance in the conversation. If you have more likes you move up to the top of the thread, if you have move dislikes you move down likely never to be seen. People paying for a site will have an interest to have less of their time spent reading trolling comments and want more content in line with what the conversation is about. To survive on the site like this, trolls will either have to be creative and funny or have a valid point that other people will recognize. Posting comments like “your mom should have swallowed” will likely disappear and the thrill of being a douchebag on the internet will disappear on this site.
People I know have compared Thinkspot to Reddit but I have a feeling that the subjects discussed will be more concentrated on certain subjects as opposed to having everything under the sun discussed. In a sense Thinkspot might have brought democracy to the internet. It acknowledges that not every voice is equal, especially if someone is speaking without any substance behind their words, and the public can choose as to who is able to be heard more. This could literally be the opposite of our current news channels where the person who brings in ratings has more airtime. The users have a hand in filtering comments and therefore have a better experience online without needing to shuffle through garbage to find a gem.
I hope that more sites like this are created in the future, I can’t imagine that they won’t. even with Donald trump being the poster boy of Twitter the company has failed to make a profit in the last three years. Facebook might want to lookout as well. They haven’t made any friends with their policies over the past three years and with their involvement in the last election its not difficult to see why. I can’t see the Kremlin investing in infiltrating a site like Thinkspot only to have their content shuffled to the bottom of the feed and never seen.
The big question is whether or not people will be willing to pay to use a site like this. I am already on the waiting list and hope to have an invite to the beta version. If Facebook and Twitter have no interest in fixing their sites its nice to see that an alternative is on the way. Welcome to the new town of the Dark web. Read a book, have something to say, or your voice will not matter.