UK bans daytime TV ads for cereals, muffins and burgers
france24.com
france24.com
it's a quote from the article, it's very likely they'd ban ads targeted at children.
I don't think US administration would be able to do anything, much like GDPR.
> I don't think US administration would be able to do anything, much like GDPR.
We live in a different world to the mid-late 2010s. For better or worse, I'm fairly confident Musk and Zuckerberg will have input on US trade policy on these issues.
Input, yes.
May even be able to get the US to threaten a trade war or to leave NATO if they can't rake in the advertising dollars.
But I think the former would be seen as Trump being Trump and the latter as a bluff, and in both cases it would be reason to more permanently disentangle the UK economy from the US economy and defence relationship than to dry away the crocodile tears of multibillonaires.
They could throw hand grenades into British politics by declassifying embarrassing events involving British soldiers in Iraq, investigating tax issues with labour party donors (many of whom conduct business in the US) or recognising Northern Ireland as part of the Republic of Ireland.
Attacking the British economy would be a political mistake, because a well advised politician would use it as a scapegoat for any economic problem in the UK. Similar with defence - e.g the withdrawal of intelligence cooperation could allow a terrorist attack to be blamed on Trump rather than MI5/MI6 funding stress.
The UK did just go through having Boris Johnson as Prime Minister, after all, who spent his time in office demonstrating that being completely shameless is a viable solution to almost all blackmail — he only fell when there were photos of him partying in the same period he was on TV telling people they couldn't do that or visit dying relatives because COVID lockdown, everything else wrong was basically ignored.
In a similar vein gambling content targeted at kids would have a similar approach. Keep in mind the businesses still need to be able to sell in the UK.
Kids entertainment has almost always been ads.
Disney movies are marketing for toys. Same with TV shows and cartoons.
We have no idea how/where it'd end up (with). If I understand anything about regulations (which is doubtful of course), the advertisers, themselves, would be on the hook.
https://support.google.com/youtube/answer/6168681?hl=en#zipp...
I worked in an ad agency a number of years ago, and Phillip Morris approached us with a deliberate plan to launch big budget ad campaigns on social media platforms specifically because they could get in front of younger demos more easily (traditional media having existing regulations in my country).
The original idea was to build a large database of prospects to sell direct to even after regulation eventually cracks down on them. Amazingly no regulation has come yet, and Meta has done little to no self-regulation.
You can blame parents, but even then one under appreciated problem with digital ads is the lack of shared experience. With TV advertising, you know what your kid is seeing, everyone can see a verify what ad ran at what time on what channel etc. If a parent and a kid are scrolling social media their experience is entirely different, and you can't go back and see what someone else has seen.
Second, I think you really need strong evidence to say that the upside you’re asserting is truly worth sacrificing kids safety.
By voting for the party that promises to enforce bans against it?
There's more than one way to be responsible, and it's not good to be a "helicopter parent" even if you have enough free time to actually pair-browse the internet with your kid, and even if you did that doesn't stop them seeing inappropriate content or ads it just means there's a witness who knows they saw inappropriate content or ads.
https://www.emarketer.com/uploads/pdf/US_Ad_Spending_2023.pd...
My experience is that the big vendors are better than scummy programmatic platforms in terms of ‘safety’ but even then not by much.
Even YouTube’s ‘for kids’ product consistently has scandals break out about it which says where the company’s priorities are.
One issue is that YT is possibly violating the law. A separate issue is that parents are allowing children to continue consuming harmful ad content on an app.
Shrugging at brainworms being inserted into your child and shrugging with a "well that's just the world we live in" is mind boggling to me. Heck, when i grew up there were kids without TV at home. They survived pretty well, despite a bit of social disconnect.
If you think having screens hurts kids mental health, wait until you take them away!
However there's two parents. So I draw a firm line at malware but allow adware. Especially also since grandma is OK with playing a F2P game with them helping them get past the ads. On the bright side: they certainly do learn to hate advertising. And dark patterns. Their little fingers are better at clucking the small X than mine!
Either way, I will figure out how to stop the nonsense without paying the mob my overly expensive contribution.
Children pretty much have to eat what you give them until they get a job.
Also some chicken nuggets are bad, but some average a gram of protein per 10 calories, which is a pretty good ratio, and especially for frozen food. Can't help but think this is too broad.
The red car and the blue car had a race
Turn the milk chocolatey
Keep hunger locked up tip lunch
I have tried to avoid adverts for 20 years, but the adverts of my childhood (not just ones aimed at kids - autoglass repair and replace, safe style do buy one get one free, dfs sale ends Sunday, ronseal quick drying wood stain does exactly what it says on the tin)
The brainwashing is sickening.
A golem carved out of butter playing a trombone, an animated blue telephone, a puppy stealing toilet paper, Boddingtons.
Same vibes, different details.
Kids don't have the defenses against manipulation, especially when it's refined by billions in research dollars and decades of work by scientists and psychologists dedicated to exploiting their young minds.
Research has shown that kids (even into their teens) can't tell the difference between ads and content. They don't even know an ad when they see one, and the line between ad and content is often intentionally blurred. I've even seen adults struggle to identify ads when they're right in their face.
It is like "just say no". Thay'll do it for drug addicition. Simple.
I don’t think this is true in practice; it feels sufficiently obvious that children’s tastes influence what they get fed that I’m not going to bother to find a citation
I don't believe you have children of your own; is this an armchair opinion or your own lived experience?
Anyway while on paper this is true, in practice kids will ask for this and may get it as a treat, or they may get it from somewhere else. And as a one-off, that's fine, but they do get influenced by ads to want more of it at any time. Same with fast food chains, somehow the ones that aren't available where I live got an almost mythical status with the teenager here. A Taco Bell did open here but honestly it was mediocre and overpriced.
Indeed, it's unrealistic to expect all kids would be served food and observed while eating.
Damn, someone better ring up the cereal companies and tell them to stop advertising, I bet they'll feel foolish realizing they've wasted all that money!
So.. then.. why are we advertising to them _at all_?
That children are a part of the decision making process is the failure.
The advertising works on the child, and ultimately the child (and the advert...directly to some extent but largely through the child) induces the parent to obtain the product.
If true why do cereal companies spend billions on advertising directly to children? For the fun of it?
Personally I came from a family that never had cereal for breakfast, so that advertising never affected me -- it's not like I'd ever have it.
Perhaps then we can appreciate a world without ads more.
It might also reduce the environmental burden of overconsumption.
Notice I said: "ads for a load of BBC programmes"
It's the same (opposite) feeling you get when watching an ad free streaming service and the switch to live TV or Prime. Which is just like switching to a browser with out uBO.
If society went 30 days with a universal uBO experience, I think all wars would end, cats & dogs sleeping together, shields would become plow. You know, basically peace on earth.
> Breakfast cereals including ready-to-eat cereals, granola, muesli, porridge oats and other oat-based cereals.
until I re-read and saw this:
> But the new restrictions will not apply to healthier options such as natural porridge oats and unsweetened yoghurt.
So I think it's not clear in the first sentence but "ready-to-eat" is meant to apply to all the items in the list and not just the cereals.
In my mind porridge oats are natural and you don't have to say that. If you have something else you need to say so.
Thanks. Do you have a link to "the list" and this NPM model scoring system?
Breakfast cereals contain a colossal amount of sugar, and are a great way to keep your diabetes on its toes. They haven't been healthy for years, moreover the toys they put in them have been shit as well.
That's what pisses me the fuck off. Even Kinder toys have been shit for decades.
All porridge oats are "in scope" of the regulation, which means they need to be scored using the "Nutrient Profile Model" score before being advertised.
The result is that porridge oats are not banned, but golden syrup instant porridge oats will be.
Here's the scoring model: https://www.gov.uk/government/publications/the-nutrient-prof...
[0] https://publications.parliament.uk/pa/ld5901/ldselect/ldmfdo...
Does that not seem like an overreach? Its not like 4 year olds are driving to McDonald's by themselves and ordering burgers. The parents are the ones being targeted here.
The government would have to spend a lot of money on counter-campaigns to keep the public well informed and it probably wouldn't have the desired effect on children.
Finally, and this is a very important point for me, children cannot enter into business deals/contracts; commercials are business proposals; hence there should be no ads targeting children.
Would you allow salespeople into your home to pitch your kids on stuff all day if they were in-person instead of on a screen?
Why not complain about the overreach of irresponsible companies trying to convince kids who have no way of knowing better to start damaging their long-term health?
But that's the way I choose to parent my child. If another parent wants their children to watch TV and be exposed to those ads then they should have every right. I'm not going to make a moral decision for them and I don't think the government should either.
(I mean, we're on HN, so the obvious answer is watching things on a laptop / projector with Firefox + uBlock Origin, but y'know - everyone else).
I believe forbidding these ads is morally good, but it's not just morality. It's knowledge backed by studies:
- children are easily influenced
- burgers cause public health issues that harm the individuals, and cost greatly to the society in healthcare
It's not a stance like "I believe women should not abort because God" (to take your example). It's a law aiming to reduce costs and and improve public health.
This laws doesn't prevent parents from speaking about burgers to their children, and doesn't prevent TV from speaking about them neither. It's not a freedom of speech issue.
There's an imbalance between the power of the big corporations and the power of the individuals and this law pushes the needle a bit towards the individuals. You the individual freedom defender should be happy with this :-)
I think most people tend to forget that and view companies as soulless abstract entities. In the US 99.9% (99.8% in the UK) of businesses are small businesses run by very few individuals who are just trying to make ends meet. If you remove the ability to advertise these products it doesn't hurt the big companies. They're established and have recognizable brands. But small businesses can't afford to lose their main way of finding customers. Eventually, they go out of business. This only helps the large corporations become even larger.
> There's an imbalance between the power of the big corporations and the power of the individuals...
Where is the imbalance of power in the scenario of burgers being advertised? All advertisement is designed to persuade the viewer to purchase the product or service. Marketing is a normal part of running a business. Children may be influenced by the commercials but so are adults. Should we ban all advertising now?
> - burgers cause public health issues that harm the individuals, and cost greatly to the society in healthcare
While burgers may not be the healthiest food, if you're a low income individual who can't access more expensive, healthier foods, burgers are nutrient and calorically rich and they're cheap.
A burger to someone living below the poverty line without access to food is a life saver. Its all about context and perspective.
Milton Friedman had a great point during this talk [1], same argument from 50 years ago.
My kids have never had any fast food, and have never seen an ad, but they talk about KFC and McDonald's constantly. It all comes from their friends at school.
In the longer term, stuff that enters your brain as a child shapes you and lasts long. See how well how many people in their 30s remember ads of their childhood.
Why would someone defend such ads anyway? I don't believe they achieve anything good for anyone except the advertiser.
Even if the majority of citizens agreed that forcing their morality on the minority is the right thing to do I still disagree because individual freedom is more important than majority opinion.
Infinite individual freedom doesn't exist, it stops where others' individual freedom starts.
What defines harm? Or more specifically, who?
this read suspiciously like a stereotypical US opinion regarding individual rights vs rights of the majority.
so i went and looked through your comment history and i now i suspect even more strongly that you are US based.
> Its because I don't want the government, people who I've never met in person and honestly are not the most moral of individuals, making moral decisions for my children on my behalf.
it’s not your government doing this. you can relax.
also, we in the UK value the balance between individual rights and collective societal rights more strongly than you do. it’s our thing. if you don’t like it, it doesnt matter, you don’t live here.
worry about that when it comes around pal. you’re just wasting energy right now spreading FUD.
what im basically saying here is, yes, you’re entitled to have an opinion.
but i’m also entitled to have an opinion that your opinion is meaningless and irrelevant to the subject at hand.
which is what i am expressing.
I'm allowed to say that right, you won't attack me for having an opinion?
Good. Majorities shouldn't be able to steamroller minorities.
isn't this also the place where you can go to jail for what you say online? orwell's probably rolling in his grave somewhere in London
But without the law, they are doing the moral decision of allowing the hurtful ads. There's no neutral state. The government has to pick a side anyway. So let's pick the side favorable to the citizens?
> individual freedom is more important than majority opinion
Isn't this a contradiction? If the majority wants something, you are hurting the individual freedom of the greatest number of people.
The idea of the government 'picking a side' is problematic because it assumes a one-size-fits-all solution that may not align with everyone's values. Allowing ads isn't endorsing them; it's respecting freedom of speech and trusting individuals to make their own choices. Once the government starts deciding which speech is acceptable, it opens the door for abuse and subjective enforcement, which can harm citizens more than it helps.
The free market should decide whether they want to be exposed to ads or not by voting with their dollars. If an ad campaign doesn't produce the results a company wants they pull the ads and try something else.
> Isn't this a contradiction? If the majority wants something, you are hurting the individual freedom of the greatest number of people.
Individual freedom means the freedom to do, say, or think whatever you please as long as you don't harm another or their property. The will of the majority to force the minority to behave a certain way is not freedom. The majority is free to act however they want as long as it doesn't harm others but they shouldn't be allowed to force others to behave a certain way.
Majority opinion can lead to tyranny if it infringes on the rights of individuals. History offers countless examples of majorities oppressing minorities. The role of a just society is to protect each person's right to life, liberty, and property, even when the majority disagrees.
The focus should be on safeguarding universal rights rather than catering to the fluctuating preferences of a majority.
I've seen streaming services auto-play whatever they want to push at viewers after whatever show/movie was playing ended. I imagine there are a lot of kids that end up watching things they (and their parents) didn't choose for themselves.
When it comes to ads, parents and children don't get to choose what ads they see either.
In reality, this law is only about advertising, specifically about making it slightly harder to target children with advertising for junk food in a country that already has a serious problem with obesity.
Stand outside any school gate in the UK and you will see that the majority of parents "aren't responsible enough to make dietary decisions for their children".
I'm fairly relaxed about it simply because this is a response to the behaviour of these corporations.
The level of reading comprehension on this website really is astonishingly low. It's about restrictions on advertising, not bans on products.
I really loathe these sort of “gotcha” comments.
Did I imply that? Are "colorful cartoon characters" the part that's "deeply irresponsible" or just the misleading health claims? If you prevent the latter then you don't have anything to attach the former to.
> I really loathe these sort of “gotcha” comments.
I don't get what part of my comment was the 'gotcha'
Watching day-time cartoons will do that.
> No, the issue is that fruit flavors and cartoon characters are abused to appeal to children. That is what the original comment said
That's not what they said. They said:
> It's deeply irresponsible how we allow advertisements and Big Sugar/Fast Food companies to exploit colorful cartoon characters and misleading health claims to hook people
I don't think the cartoon characters is the part of the problem to address. And I think that aspect becomes irrelevant when addressing the actual problem. (And 'Fruit flavours' was my addition and question not theirs)
What part of my comment "only half replied"? I asked two questions in relation to the comment. I mentioned "colourful cartoon characters" and "fruit flavours" because those are examples of things that "appeal to kids" even though they have wider audiences. Canada (and other countries?) want to ban flavours from e-cigarettes because of the appeal to youth (and limiting it to just mint, menthol and tobacco). Why should an adult be limited to mint as a flavour for an age-controlled product? Why shouldn't an advertiser be allowed to use colorful cartoon characters?
Moved goalpost? Aren't we saying the same thing here? The video, and similar breakfast cereals, are perfect examples of the actual problem. It uses the combination of cartoons and false health claims. The false health claims are the parts that are problematic - that's the part to eliminate. The informational part of that video (and the box information design!) is meant to appeal to (read: mislead) adults, not kids.
Allowing false health claims for unhealthy products is an issue. Miseducating parents and adults about what's healthy is an issue. Suppressing how terrible excess sugar is for children and adults is an issue. Allowing lines like "how about fruit flavours"? (in video) and showing pictures of fruit is an issue. Allowing producers to hide how unhealthy something is by saying it's "healthy when part of a balanced breakfast" is an issue. Even now, nutrition information or prominent labels for cereals can include the values (eg protein) when one consumes it with milk!
Change that and what does that video or other ads for cereals become?
and the several posts "an it harm none do what thou wilt" on this topic are silly too. My breath takes oxygen out of the atmosphere. Me drinking a glass of water takes that water out of the ground (or stream, or lake), making you unable to drink it. Every footstep changes the terrain.
It sounds good in text form "as long as they're not harming anyone but themselves" but what about smoking? assume someone lives alone so they're not second-handing anyone else, they're still a burden on the system. there's still poison being sprayed on tobacco crops, diesel being burned to harvest and transport, plastics being used to manufacture the cigarettes, and so on. There's external costs to literally everything except living in a log cabin made from local logs in the middle of a forest and only foraging and hunting for food. And even then i am sure i could argue that has unbalanced negative externalities.
If you're going to attempt to make a point, make sure it makes sense from more than one angle, first.
Probably best to ban all food advertising.
Yes there are psychological aspects to governance but more and more it's becoming the only solution to all problems. Obesity is skyrocketing? It's the psychology. People don't like unlimited immigration? Get out the mass psychology. People perceive that inflation is out of control. Get out the mass psychology. Market is down. Employ mass psychology. People don't give a crap about a war that they have no stake in. Mass psychology. I guess propaganda works and it's very cheap, lol.
Propaganda - Edward Bernays in 1928 [1]
Public opinion - Walter Lippmann 1947 [2]
[0] https://en.wikipedia.org/wiki/Public_Relations_(book)
The entire doc is on Youtube: https://youtu.be/GFwDc17WZ-A
There is a reason that advertising and media influence is everywhere, it is a cheap and has a decent return on investment, whether that is actual revenue or just a shift in people’s perspective.
Also note that advertising of prescription pharmaceuticals is already banned, which would likely be another large advertiser were that not the case.
In the same vein, and as further evidence, whenever i'm in a car that isn't mine and an ad plays, especially on siriusXM, there's a good chance it's for ziprecruiter or linkedin job listings or something. How many hiring managers (or small business owners?) are listening to that ad? 25? 100? 1?
Most of my online ads are for $100,000+ network gear and the like because i'm adjacent to that industry. I just loaded edge and went to youtube to see what's up and i got an ad for an electric car (i won't own one manufactured in this century), an ad for an adblocker (pie), and i guess google caught on because i can't get any other ads to show up (i clicked a couple dozen other videos and couldn't get another pre-roll to show up).
advertising has never been relevant to me, i've only ever gotten out a credit card because of one online ad, ever, and i ended up never receiving what i paid for, so there you go, lesson learned. I haven't owned a TV since 2003, no subscription services (including CATV or Sat, netflix, etc). So when i see ads or hear them, they stand out, pretty strong.
I mean, certainly you can get bad meat, and maybe it's easier to conceal in a burger than in a steak, but ... how about literally all other processed meat that is invariably processed more than burgers? Salami, sausages, hot dogs, ...
I personally love burger, and consider it one of the finest foods.
Fortunately, there's a very easy way to know the quality of a burger - if they ask you, how well you want it done, it's high quality! Shitty burger places like McDonalds and Burger King don't want to risk selling you a medium-done burger... Funny enough, UK is one of the better places for high-quality burger, much better than e.g. Switzerland or Slovenia! My favourite in London is (was? 2019) Honest Burger...
The foods mentioned in the article are not an exhaustive list of all the foods for which the government has banned advertising. It's possible they've also banned ads for salami, sausages and hot dogs, but the article didn't mention it.
Probably because, compared to burgers, there aren't that many ads for salami, sausages and hot-dogs during daytime TV, so it's not seen as much of a problem, or as worth mentioning.
But because you mention it - how many daytime ads do you see for high quality burgers, like Honest Burger, as compared to ads for McDonalds and Burger King?
The issue here is that the UK is obese as fuck. Partly because of education, partly because of price, party because of supermarkets.
If we want to avoid spending billions upon billions tackling diabetes and other related conditions, the UK needs to tackle its diet. This is
If they grind their own meat or use something like ground chuck or ground round you can get it medium.
The problem is that this is more expensive and time consuming so almost no one actually does this in a commercial setting. If you tell me you do this when I come over to your home cook-out I will possibly trust you to serve me a burger with some pink in it, but if your restaurant tries to sell a $6 burger that you let someone order medium-rare bad things are going to eventually happen...
Some meat sellers mechanically tenderize (blading) their cuts of beef. This may cause E.coli on the surface of the beef to enter the interior of the beef. Costco was linked to E.coli cases in 2012 due to this practice. See https://www.consumerreports.org/cro/magazine/2013/06/has-you...
If you can serve a steak medium, then you can also grind the steak, cook it medium and serve it.
Only two reasons to ever cook beef: (1) taste (2) quality
We have an obesity problem in the UK. We need to reduce overall calorific intake.
https://www.ofcom.org.uk/tv-radio-and-on-demand/broadcast-st...
But I don't think they did sugary breakfast cereals because Kelloggs et al made a fuss.
Maybe you and I aren't, but lots of people are.
As long as we ban ads for stock trading platforms (i.e. gambling for the professional classes) at the same time.
We've got a century of data showing laissez-faire approaches to advertising results in maximum harm to a society, and ample recent data from the internet age showing how dark patterns in psychology are exploited by advertisers to drive outcomes.
We have to do better, and the UK's step is at least an attempt to stem the harm. I can't fault entities from at least trying to do better.
Still not as bad as those weird country which advertise prescription medicine
Do you feel like your knee itches sometime? You may have BSitis, ask your doctor if our product is right for you...
Replace all these with a generic, if you feel sick, go see a doctor, that's what they are for if needed.
Of course, crypto speculation is something different altogether. Maybe you were thinking about all the poor schleps buying Bitcoin for $100k?
Even then, your chances of winning are around 50/50 and no one is forcing you to cash out.
You can still lose all your money on stocks, with a combination of bad choices and bad luck. But it is much easier to lose it on the horses.
My stock ISAs have gone up pretty much every year (after inflation and fees).
You're getting ripped off, you should be paying a small fraction of that.
Plus a 0.15% account fee: https://www.vanguardinvestor.co.uk/what-we-offer/fees-explai...
Most others charge more.
That's not what the ads for the stock trading platforms want you to do
> The punter does not win on average with stocks due to fees and spread.
Literally 100% of my investing is the stock market. I have so much faith in the stock market that I rent because I don't want to waste the opportunity cost on equity in property.
A punter is informal slang for a person who gambles. I buy and hold a diversified portfolio of index funds over decades. I am very much not a punter.
Not really. There just seems to be more than one meaning, and we were each aware of different ones. The meaning might vary by country (I am in the UK).
I am from the UK but moved to Australia about 35 years ago
I wouldn't lose any sleep over it.
;o)
Like what would anyone think of a smoking warning of “when the fun stops, stop”
Pensions are more tax efficient and offer a better option of investments (companies) than what is effectively fiat interest going into a lottery pool.
If you have cash in premium bonds you might die young then pay inheritance tax.
Better give your kids cash earlier to live off or invest to avoid this, and so they can over-stuff their pensions ;). Not many people think that far ahead (60 year horizon)
Annuities maybe, but those aren’t the only kind of pensions
pension
a regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health> A pension (/ˈpɛnʃən/; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.
A pension is a financial instrument. There’s no need to purchase an annuity, which means a pension organised correctly can be passed on to your children or spouse, and there’s no lottery or gamble angle.
A dictionary: https://dictionary.cambridge.org/dictionary/english/dictiona...
The wikipedia definition is strange. A pension is not a fund. A pension fund is a fund! (There is also a wikipedia page for that!)
Apart from that how is “regular income paid by to someone who no longer works“ different from “periodic payments made to support the person's retirement from work” anyway?
The word pension is overloaded. A SIPP is a pension, the state pension is a pension, and people refer to their annuity as pensions too.
> A pension is not a fund. A pension fund is a fund!
The word fund is being used in two different ways here. A pension is a fund, but is not a Pension Fund.
I'm familiar with retirement accounts and pension plans in a number of countries but not in the UK. I see that in the UK "pension" is often used a short-hand for "pension scheme" (it seems a relatively new development which I've not seen reflected in dictionaries).
For what it's worth, the wikipedia page for Personal_pension is redirected to Personal_pension_scheme: "A personal pension scheme (PPS), sometimes called a personal pension plan (PPP), is ..."
> The amount of energy needed to refute bullshit is an order of magnitude bigger than that needed to produce it.Err, you could start by not making wild inferences and replying to assertions that weren't made.
A single investment is basically gambling. Where it moves is largely impossible to predict or (for a nobody like me, who wouldn't have the means to engage in market manipulation) control. You can reduce the randomness/risk by spreading out your investment across multiple stocks. That's just the central limit theorem. For the market as a whole, on a long enough timescale, the historical aggregate trends upwards, but is still effectively random.
> What the fuck are you investing in for retirement if not stocks?
I can be critical of something and still acknowledge the reality that I am effectively forced to engage with it. I generally invest in a few index funds to reduce the variance and mental overhead, but it's still there.
---
In one way it's much worse than "mainstream" gambling: its value depends on society holding the shared delusion that stocks (both in general and yours in particular) are actually worth something. That leads some people to become incredibly invested in maintaining that delusion, since they know what's at stake for them. This thread could be considered an example of where that mentality leads.
And as you said yourself:
> The amount of energy needed to refute bullshit is an order of magnitude bigger than that needed to produce it.
Thank the power of the horse racing/gaming/gambling lobby.
Many years ago when I lived there, I had an IG Index account - who market themselves as a "financial spread betting" service. At the time, you could buy/sell futures and options with them but it was presented in a way that emphasized that you were "spread betting" - but the mechanics were the exact same and expiries all lined up with the obvious counterparts in the liquid futures space.
So because you were NOT investing but gambling, "winnings" were tax free.
I just googled and they're still going - presumably still offering the same betting "service".
It's funny to see the efforts that scam and pure gambling services go to to try and present themselves as staid and serious "investment" business while IG Index offered access to well-regulated financial markets but kept reminding you that you were betting.
In theory, all the money wagered is money that has already paid income tax at some point so why tax it again?
Most obviously, it doesn't cost to enter. So the most you can "lose" is a missed interest income from putting the money in another source.
After that, it's definitely the fact that the algorithm is designed to both pay a certain percentage of people and always have specific return. [1]
You are also limited to how much you can enter to 50k.
With all that in mind, at the end of the day it feels like many small wins over time, with the super random chance of occasionally having a big-ish payout.
It's definitely designed to feel like a lottery, but in reality is way more akin to normal savings than a lottery.
Also tax man: Oh did you get that money by luck? Good for you, man.
Also tax man: Did you get inherit money by having been born into a wealthy family? Gimme some of that money.
Also tax man: Were you born into the royal family? Good for you, man. Pardon me, I mean, your highness.
[0] https://www.theguardian.com/society/article/2024/jun/28/tory...
India is ridiculously expensive - bribes often amount to 50 lakh rupees to 1 crore + rupees, which amounts to roughly $50k-100k per politician. Not to mention bribery at the lower rungs of the ladder where everyone from the politician's toilet janitor all the way to the politician's chief of staff will demand their pound of flesh, usually in the tune of tens of lakhs of rupees (~$10k).
Why would you agree to stick your neck out for something illegal on the cheap when you can wring the ordinary people to do your job?
All this is based on second hand information so please correct me where I am wrong. Also probably things are different in different parts of the country?
On the other hand, I was a member of the Treasury group and the Leaders group of the Tory party until recently, with just a "paltry" donation of £50k, which got me the ear of a sitting PM and regular meetings with the Chancellor. Good luck trying to get that kind of access in India or the US with the PM.
The cheaper bribes were a tangent, but just to show that doing business in India is actually more expensive than in the UK (where there are no such bribes).
What we actually see is a lot of stasis, refusal to compromise, and politicians locked in with their party, which suggests it is pretty hard to influence politicians.
Where money is effective is using it to get politicians who agree with your view elected.
The only reason all those “issues” are issues is because they’re intended to distract the public from the actual stuff politicians are being bought for. Transferring wealth to their buyers.
80% of the politicians on both sides of the spectrum have the same beliefs about all those issues.
(Sources: https://en.wikipedia.org/wiki/United_States_congressional_ap... , https://en.wikipedia.org/wiki/Constituencies_of_the_Parliame... )
Leaders group puts you in touch with the Tory party leader (who is often the PM if the Tories are in power). Treasury group invites you to meetings with the Chancellor of the Exchequer.
They will often vote in a way that their constituents do not want for ~10k in campaign contributions.
They didn't have to worry about the voters finding out about it (this is changing with alternative media) beacuse the same people bought ads on the major networks.
The real bribery starts at the bottom of the pyramid.
Say you want a water connection. The rate is set on the size of the property, and each layer in the pyramid knows exactly how many square feet were approved and what their individual percentage will be.
And again, you can’t just bribe the fellow directly: you need to go through a trusted agent who acts as a cut-out between the briber and the bribed. This started after the Lok Ayukta started conducting raids. Who says our babus aren’t flexible and innovative?
I suppose the law is an ass.
ban gambling companies from sponsoring sports teams, from being associated with sports teams etc.
I grew up near a gambling shop. You would see the punters desparately trying to eek out every last puff on their roll-up cigarettes, while the gambling shop owner would drive up in his Rolls Royce.
So, Casper mattress wants to have an ad spot in a podcast or a YouTube video in the video itself? That's ok.
YouTube wants to include an ad about a mattress in a video about home renovation? Also ok.
Stack overflow wants to show an ad for GitHub? Is ok to me.
YouTube wants to show an ad about Casper mattress based on whether someone has clicked on an ad about mattresses before? Banned!
This alone would be a great start.
[1]: https://news.ycombinator.com/item?id=42360734
[2]: https://www.asa.org.uk/static/uploaded/d3683dc1-189e-413c-86...
Anything TV related is irrelevant nowadays
https://en.wikipedia.org/wiki/Censorship_in_the_United_Kingd... I highlighted the explicit loophole here:
“Article 10 – Freedom of expression
Everyone has the right to freedom of expression. This right shall include freedom to hold opinions and to receive and impart information and ideas without interference by public authority and regardless of frontiers. This article shall not prevent States from requiring the licensing of broadcasting, television or cinema enterprises.
The exercise of these freedoms, since it carries with it duties and responsibilities, may be subject to such formalities, conditions, restrictions or penalties as are prescribed by law and are necessary in a democratic society, in the interests of national security, territorial integrity or public safety, for the prevention of disorder or crime, for the protection of health or morals, for the protection of the reputation or rights of others, for preventing the disclosure of information received in confidence, or for maintaining the authority and impartiality of the judiciary.”
So advertising to kids is actively trying to conduct an illegal transaction.
Banning in magazines targeting kids is a separate question.
“See it. Say it. Sort it”
Ugh
Also London, is very different to the rest of the UK, in many ways.
>“See it. Say it. Sort it”
You know that the UK has a long history of terrorists placing bombs on public transport?
Do you live in all of the UK?
...and of course many in the UK are too scared to speak out.
Edit: apparently there are bots watching this and ready to bury the truth! How easy it is to expose them...