YouTubers Get Sued For $1,000,000,000
The influencers who promoted FTX are now being sued for allegedly promoting "unregistered securities", and questions are now floating about whether this lawsuit will go all the way.
@stux Unlikely. Ever hear of an ad agency or spokesperson being successfully sued for promoting; cigarettes, booze, guns, fad diets, drugs...any number of products that physically harmed or killed people? Me neither.
I mean, they are a bunch of grifting idiots at best, but they are unlikely to have much money (left), and if they were able to be squashed...5 more are just salivating to take their place.
Notice...they aren't suing the hosting platform. Google has lots of money...and lawyers.
@ministerofimpediments @stux Suing Google for what YouTube creators published would get dismissed on day one because of Section 230.
@Alex @stux …probably. But with more than a few sides wanting to edit or remove 230 that’s not exactly stopping anyone. Esp if they claim no “good faith” moderation. Particularly since the stakes of hitting influencers has such a low monetary/policy return as to be almost as pointless.
Assuming the influencers were adhering to FTC guidance (Title 16, part 255 with disclosure, etc) and they can afford lawyers…the other suit isn’t going anywhere either.