Eric LawtonWealthsimple now has approval to offer investments betting on the weather and other events
When betting on the weather is an "investment" it makes it clear that "investors" aren't altruists wanting to create jobs, but gamblers hoping to get rich.
Todd Bee 🇨🇦, 🖕🍊@EricLawton Calling this fucking stupid is an insult to fucking stupid. At least Wealthsimple outed themselves as having no morals or values, and hopefully enough people will shun their services. This has got to be the death rattle of late-stage capitalism.
Spring Cat@toddalio @EricLawton Anyone who ever expected a bank/investor (which Wealthsimple is) to be not evil must be really distracted because people who make money out of your money are never your friends
People use Wealthsimple because their user experience is much better, not because they’re better people.
@catzilla @EricLawton True, but betting on weather & disasters seems a little bit extra, like an Evil+ subscription service ($6.66 / month)
Even worse are wars and other human-caused disasters, because of the ability of some gamblers to either change the odds or get inside info.
Although climate change is averaged weather, it is generally available knowledge and medium-term weather is still too random for that knowledge to have much impact.