Everyone is your church watching the plane Bagga.
每个人都是你的教堂，看着飞机 Bagga。
Today, I wanted to give an updated on a topic that I covered just under two years ago of sketchy companies paying news tubes to promote their publicly traded stocks.
今天，我想就一个我在不到两年前讨论过的话题提供最新情况：一些可疑公司付钱给新闻类 YouTube 频道来推广它们的公开交易股票。
If you ve never saw the regal video, that is that we saw this trend of influences promoting the questionable investment opportunities and actually talking about their their ability or critical currencies.
如果你从未看过那个 regal 视频，那就是我们看到的这种趋势：网红们推广可疑的投资机会，实际上谈论他们的能力或关键货币。
The rather publicly traded socks, where these companies were often earning zero dollars of revenue or spending more on investor relations like these promotions, were actually developing their business, with even a few of them being on the verge bankrupcy edited in their finances that were serious doubt about their ability to continue as a going concern.
这些公开交易的股票，这些公司往往收入为零美元，或者在像这类推广上的投资者关系支出比实际业务发展还多，甚至其中一些濒临破产，其财务状况被编辑过，令人严重怀疑它们能否持续经营。
And yet these companies were often being advertised as a huge investment opportunity, a company that was about to take advantage of some meaningful bacco trend and commenting a massive turnaround, even though most of the stocks as of the time of the video had actually fallen in value from when they were promoted.
然而，这些公司经常被宣传为巨大的投资机会，一家即将利用某种有意义的宏观趋势并实现大规模扭亏为盈的公司，尽管截至视频发布时，大多数股票的价值实际上已经比被推广时下跌了。
Now when I first posted on this topic in number of creators eventually deleted the videos, one crater even actually responded with the video of their own and immediately was hopeful that Mabe this was just a short lived fat, a temporary fluke.
当我第一次发布关于这个话题的内容时，一些创作者最终删除了视频，有一位创作者甚至用自己的视频做出了回应，并立刻希望也许这只是一阵短暂的风潮，一个暂时的偶然现象。
And like the annoying trends of influences promoting and FF and mean crypto currencies, and they be be, be a thing of the t, but you know the reason of covering it today is, no, that’s that’s not what we’ve seen in the slightest.
就像网红推广 NFT 和 meme 加密货币那些令人厌烦的潮流一样，它们本该成为过去式，但你知道我今天再次讨论它的原因是，不，我们看到的完全不是那样。
And and continue to be a slew influencers promoting these companies to their viewers across Instagram, TikTok, x and seemingly largest of all, YouTube.
而且仍然有大量网红在 Instagram、TikTok、X 以及似乎规模最大的 YouTube 上向观众推广这些公司。
Some of the channels are specifically in the finance Nieh.
其中一些频道专门做金融细分领域。
A number are political or geopolitical commentators.
还有一些是政治或地缘政治评论员。
And I’ve even come across some massive science channels with millions of subscribers promoting these investments despite the fact and these companies aren’t making any money, they don’t have any sales.
我甚至看到一些拥有数百万订阅者的大型科学频道在推广这些投资，尽管这些公司根本不赚钱，也没有任何销售额。
But beyond the trends continuing, it’s also been involved in now.
但除了这一趋势持续之外，现在还出现了新的情况。
Companies are promoting their sketchy stocks using AI influencers artificially generated videos that can even pronounced the disclosures properly deleted on behalf of stream care.
公司正在使用 AI 网红、人工生成的视频来推广它们可疑的股票，这些视频甚至无法正确读出披露信息，而是被代表 Stream Care 删除了。
We have this happen soon.
我们很快就会有这种情况。
You won’t even be able to lose your money to real influencers anymore.
你甚至都无法再把钱亏给真人网红了。
What kind of country are we if we let this happen?
如果我们允许这种事情发生，我们还算什么国家？
Even Christie known the former U. S. Secretary of homeland security that our self gone involved with one of these sketchy zero revenue companies that advertising heavily on YouTube using these AI ads.
就连前美国国土安全部部长克里斯蒂·诺姆也亲自参与了一家这样的可疑零收入公司，该公司在 YouTube 上大量投放这些 AI 广告。
And of course, it’s all topped off with the reason news from the walls y Journal on Polly market.
当然，这一切都以《华尔街日报》关于 Polymarket 的最新消息收尾。
The prediction market has recently found to be paying creators in the U. S. To promote its offerings without disclosing payment for the promotions.
这家预测市场最近被发现向美国创作者付费推广其产品，却没有披露推广报酬。
So you see that this type of questionable influences marketing is really reaching a bit of AB selling point.
所以你看，这种可疑的网红营销确实正在达到某种临界点。
And it’s really concerning for a number reasons.
而这确实令人担忧，原因有很多。
One, the rules around promoting financial services platforms and products through influences remains a pretty ambiguous area.
第一，关于通过网红推广金融服务平台和产品的规则仍然是一个相当模糊的领域。
And two, influencers are only becoming more and more prevalent and more relied on for financial information.
第二，网红在财务信息方面正变得越来越普遍，也越来越被依赖。
One federal survey found that 61% of the a in the 34 have made investment decisions based on recommendations from a social media personality versus roughly a quarter across age groups.
一项联邦调查发现，在 34 岁以下人群中，有 61% 的人根据社交媒体名人的推荐做出过投资决定，而各年龄段的总体比例约为四分之一。
And three, as we’re seen, even when real, real, real and and doesn’t seem to be more of a remote and on investigation by the C. F. A research and Policy Center from 2024 found that only half of influencer promotions on social media contained proper disclosure.
第三，正如我们所见，即使有真实、真实、真实的……而且似乎并没有更严格的监管。CFA 研究与政策中心 2024 年的一项调查发现，社交媒体上只有一半的网红推广包含适当的披露。
And yet we still haven’t seen a meaningful crackdown on that activity and in fact, quite the opposite.
然而，我们仍然没有看到对这种活动进行有意义的打击，事实上，情况恰恰相反。
And we seen a real regulatory pull back in the U. S. And even here in Canada, where we’ve had examples of influences being fined, the punishments just really haven’t been enough to discourage activity.
我们看到美国出现了真正的监管倒退，甚至在加拿大也是如此，虽然我们有过网红被罚款的例子，但惩罚力度确实不足以阻止这类活动。
And so I want to give an update on things to talk about the current state of this type of promotional activity, the continuing examples we’ve seen and some of the changes were seen with regulators and the expected changes because it is also the expectation of a crackdown come and is also actually a research paper that was published that actually references my initial video, which obviously pretty cozy.
所以我想就这些事情做一个更新，谈谈这类推广活动的现状、我们看到的持续案例，以及监管机构方面出现的一些变化和预期变化，因为人们也预期会有一场打击行动到来，而且实际上有一篇研究论文发表了，它引用了我的最初视频，这显然挺让人欣慰的。
So wanted to touch on that.
所以我想提一下这一点。
And just generally, I want to to raise awareness on this issue once again and highlight what people can do if they come across the sketch advertisements because I ve had the opportunity to speak with regulators on this exact issue, and I wanted to share some resources and what can be done to, I guess, better put this issue on the radar of lawmakers and like.
总的来说，我想再次提高人们对这个问题的认识，并强调如果人们遇到这些可疑广告可以做些什么，因为我有机会就这个具体问题与监管机构交谈过，我想分享一些资源，以及可以做些什么来更好地让立法者等人关注这个问题。
But I want to start off with a quick overview of the losy Journal investigation into polymer, because it also helps to step the scene for everything else.
但我想先快速概述一下《华尔街日报》对 Polymarket 的调查，因为这也有助于为其他一切做好铺垫。
And it’s also what’s gone the topic into the new cycle currently.
这也是目前把这个话题带入新闻周期的原因。
The gist of the article is that even though Polly market is banned from operating its main platform in the United States, the company has hired a marketing agency that pain mostly college age creators to promote the platform with so called clippers reactivating ating content to make abuse, with the report finding that creators were actually constructed at times not to disclose to wake being paid.
文章的主旨是，尽管 Polymarket 被禁止在美国运营其主要平台，但该公司聘请了一家营销机构，付钱给主要是大学年龄的创作者，用所谓的“剪辑视频”重新激活内容来制造热度，报道发现创作者有时实际上被指示不要披露他们收了钱。
But this has been one of the major revelations from the article.
但这是文章中的重大揭露之一。
The investigation also found that the craters often placing fake bets in the videos using a dummy website set up by Polly market called poly market, where the eye was capitalized to look like the normal url, and despite creators claiming to have made money from their bets totally in almost 166000.
调查还发现，这些创作者经常在视频中下假注，使用 Polymarket 设立的一个名为 poly market 的假网站，其中字母 i 被大写以看起来像正常网址，尽管创作者声称从投注中赚了近 30 万美元，但记者发现这些投注实际上总共会亏损 16.6 万美元。
Now we’ve cover pretium markets before and highlighted the tot that most people lose money like you would expect from a typical gambling platform.
我们之前已经报道过预测市场，并强调过大多数人会亏钱，就像你对典型赌博平台所预期的那样。
But most of these ads really talked up the money making opportunities of the platform.
但这些广告大多大肆吹嘘平台的赚钱机会。
There’s this excellent infographic from the article that highlights the common phrases from these promotions, and you can see that the financing of the ads include the terms and often alluding to the a of a given bet with free money now beyond the whole not disclosing the promotions that regardless of ether something the financial service or not is not generally allowed by the ftc in the us.
文章中有一张很棒的信息图，突出了这些推广中的常见用语，你可以看到广告的措辞包括这些术语，并且经常暗示某个赌注的赔率，还有“免费钱”。现在，除了完全不披露推广之外，无论是否属于金融服务，这通常都是美国 FTC 不允许的。
You can see that the promotions of fly in the face of the typical requirement for promoting the financial products and services that are are a lot of restrictions from message when you talk about mutual funds are typically publicly traded socks with traditional advisors, and you can suggest future performance return figures have to be standardized and if you are, register the investment advisor, advertising and investments, there are a lot of general restrictions in terms of how you can format your advertisement.
你可以看到，这些推广完全违背了推广金融产品和服务的一般要求。当你谈论共同基金或传统顾问推荐的公开交易股票时，信息方面有很多限制，你不能暗示未来表现，回报数据必须标准化，如果你是注册投资顾问，在广告和投资方面，广告格式也有很多一般性限制。
On this case, Polly market is somewhat pleaded in ignorance because they hired a marketing agency and or claiming that they themselves weren’t privy to how these promotions were being carried out.
在这个案例中，Polymarket 多少以不知情为由辩解，因为他们聘请了一家营销机构，并声称自己并不了解这些推广是如何进行的。
H, but a separate investigation, fine enough by political one, that they were at least 490 incentives of a Polly market pay creators promoting the platform on x, without clearly disclosing the partnership with payments for these arrangements coming from the personal PayPal account.
但是，另一项由 Politico 发现的调查显示，至少有 490 次 Polymarket 付费创作者在 X 上推广该平台，却没有明确披露合作关系，这些安排的付款来自首席营销官 Matthew Motorola 的个人 PayPal 账户。
A Matthew Motorola, the company’s chief marketing officer, say, yes, I’m pretty damming revelations.
公司的首席营销官 Matthew Motorola，是的，这些都是相当确凿的揭露。
I won’t dive deeper into that story if you want more exciting of this video from coffee Zilla the departing to the two journalists behind the articles so sorry voy Zilla a coffee Zilla always makes up those two creators.
如果你想了解更多精彩内容，可以看 Coffeezilla 对这篇文章背后两位记者的采访视频，所以抱歉，是 Coffeezilla，不是 voy Zilla，Coffeezilla 总是能请到那两位创作者。
But you can see a paints a pretty depressing picture about the state of financial advertising, at least in the United States.
但你可以看到，这描绘了一幅相当令人沮丧的金融广告现状图景，至少在美国是这样。
But maybe that’s to be expected.
但也许这在意料之中。
We are talking about about prediction markets here, after all, which have been sketchy from from the beginning and just generally legally contested and precarious.
毕竟我们在这里谈论的是预测市场，它们从一开始就很可疑，而且总体上在法律上充满争议且不稳定。
So it be nice thought to think this is the only place where that kind of stuff is happening.
所以，如果认为这是唯一发生这种事情的地方，那会是一个美好的想法。
But sadly, the reason here is because that on the case, but we continue to see really sketchy stock promotion campaigns on YouTube and other platforms where multiple creators are paid to promote companies with actionable financials.
但遗憾的是，事实并非如此，我们继续在 YouTube 和其他平台上看到非常可疑的股票推广活动，多个创作者被付费推广财务状况堪忧的公司。
And I like with the Polly market story.
就像 Polymarket 的故事一样。
I would say the majority of the videos I have come across anyway do disclose their partnership in some manner.
我想说，我遇到的大多数视频确实以某种方式披露了合作关系。
In fact, that’s really the only way I can come across these examples is by searching for these key terms to come up with these disclosures.
事实上，我能找到这些案例的唯一方式就是搜索这些关键词来找到这些披露。
And some companies may be going to be trying to raise capital from investors for a business opportunity.
有些公司可能正试图从投资者那里为某个商业机会筹集资金。
And the retail market is really the only group to have access to this.
而散户市场确实是唯一能接触到这些的群体。
Video, by economics explained, for example, promotes enhanced group take AENHA, the company behind the enhanced games, which for the uninitiated is like the Olympics, but on steroids, literally, which which you can be wrong, is still a choice to promote, is also problematic given that the promotion isn’t disclose in the video itself.
例如，Economics Explained 的视频推广了 Enhanced Games 背后的公司 AENHA，对于不了解的人来说，这就像奥运会，但字面意义上用了类固醇，这仍然是一个值得商榷的推广选择，而且推广本身没有在视频中披露，这也存在问题。
There’s just the tag and then a disclosure deep in the description box.
只有一个标签，然后在描述框深处有一个披露。
But at least in this example, there are some justification for these.
但至少在这个例子中，这些还有一定的理由。
We don’t have any historical revenue, but beyond concerns of trying to pump stock price and beyond examples of companies paying creators to promote their stock and then the shortly issue in and selling shares.
我们没有任何历史收入，但除了试图拉抬股价的担忧，以及公司付钱给创作者推广股票、然后不久就发行并出售股份的例子之外。
But all these companies just don’t appear to be making any real progress towards making any money.
但所有这些公司似乎都没有在赚钱方面取得任何真正的进展。
A lot are minerals and many companies that are some some sort of and or asset but aren’t really developing it.
很多是矿业公司，许多公司拥有某种资产，但并没有真正开发它。
They’re just selling the dream that they might one day or that they’ve actually bought for the and by the bigger developer, which might sound promises when these videos bring up macrophages and surging planes for commodities and medals until you see that most of these companies have already been around for over a decade and have survived, often investor funds the whole while.
它们只是在兜售一个梦想：也许有一天它们会成功，或者它们实际上已经被更大的开发商收购了。当这些视频提到宏观因素和大宗商品及金属价格飙升时，这听起来可能很有前景，直到你发现这些公司大多已经存在了十多年，并且一直靠投资者资金维持。
There’s also something called a lifestyle company, which is a business that basically exists to fund investor money to its executive team, its investors paying for the life style of business management, who are taking salaries and bonuses, all the while not making any progress on the actual company.
还有一种叫做“生活方式公司”的东西，这种企业基本上存在的目的就是把投资者的钱提供给高管团队，投资者在为管理层的生活方式买单，这些人拿着薪水和奖金，却始终没有在公司实际业务上取得任何进展。
And all some creators do highlight that these are high risk investments.
而且一些创作者确实强调这些都是高风险投资。
This is a speculative junior mining stack.
这是一只投机性的初级矿业股。
Other cases, the describing y between what’s being sold in the reality of the investment.
在其他案例中，所宣传的内容与投资现实之间的差距非常明显。
Iza Enya is pretty stark.
Iza Enya 的情况就非常鲜明。
Take this video by the invisible hand, for example, a geopolitics channel that frequently gets hundreds of thousands of views and includes a promotion for giant Mining Corp.
以 The Invisible Hand 的这个视频为例，这是一个经常获得数十万观看量的地缘政治频道，其中包含对 Giant Mining Corp 的推广。
Take your symbol, L, F, F, F, F.
股票代码是 LFFFF。
But by the creator talks about the info trends of the U. S. Trying to the shore corporate access, the, the, the, the, the company up nicely to take advantage given that they own some copper place.
但创作者谈到了美国试图确保企业准入的信息趋势，这家公司因为拥有一些铜矿而处于有利地位。
There’s a lot to talk of upset with this advertisement, but very little mention of risk with really the only thing being the video highlighting that the company owns a past producing mine in the Vatican.
这则广告有很多令人不安的地方，但很少提及风险，唯一提到的就是视频强调该公司在梵蒂冈拥有一个过去曾生产过的矿山。
In other words, they don’t currently have active operations.
换句话说，他们目前没有活跃的运营。
They own the mind that to make make pa, but doesn’t anymore.
他们拥有的矿山过去曾生产，但现在不再生产了。
But based on the sad