Effect of ASIC ruling on online financial discussions

2. Could this extend to this type of forum

We think that we as a community should be aware of any place we are sharing information online. This is not just social media, but forums, comments under blog posts, comments under YouTube etc.

That’s why we have created the Pearler Exchange. Everything that ends up on the public site goes through a review process. We want this to protect everyone and give comfort that if your comment makes it onto the exchange, that it is educational or general in nature and delivered as part of the Pearler experience.

3. Could this extend to handing out a Pearler code (or any code really)

So this is hopefully covered in my first response, but here’s a quick list of True or False questions to ask yourself to see if you could be doing something wrong. If you want to share your invite code, can you answer True to each of these:

a) You’re not a social media influencer

b) Your friend wouldn’t possibly see you as an influencer

c) You’re not carrying on a business

d) Your friend wouldn’t possibly see you as a professional adviser giving them advice

e) You’re being honest

f) Your friend wouldn’t feel like you have left out something important just to get a perk

Appreciate this isn’t a yes or no answer, but hopefully it’s helpful!

4. conversations are (were) being freely had…

This isn’t really a question, just a topic close to my heart… So, the sharing of personal finance experiences online has helped spread the Financial Independence Retire Early community, which inspired much of what you see on Pearler today.

We think online forums have been one of the most important levelers for wealth creation in perhaps all of history. And we each share these amazing resources that can help us make sense of this life with money. So let’s just say without the likes of Reddit, FB or Instagram, there would be no Pearler.

Like with everything online, though, there are amazing pockets and terrifying pockets and plenty in between. Just like forums. They’ve certainly helped me on occasion; they’ve probably helped you, too. As long as everyone looks after themselves, treats threads with a healthy dose of skepticism, and can ignore the snarky answers, then you get what you pay for.

There are massive forums and I don’t think the Exchange is going to compete with, Facebook groups, Reddit or Discord. When we thought about how we could help, it occurred to us that it’s been nearly 20 years since Facebook and Reddit launched. With this in mind, we realised it was time to have a crack at something new. It may not be as exciting as some other forums, but at least you know who you’re talking to and there won’t be a dodgy stock tip in sight…

Thanks for your question. Let me know if this was helpful or if there’s still some stuff on your mind.

Nick