IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a “private company” (it belongs to me, you, and that guy) to a “public company” (it belongs to anyone who pays enough for the shares).
The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.
I mean; we could always take reddit down the same way WallStreetBets took down GME… [/S] [NOT FINANCIAL ADVICE]
Just imagine the Superstonkers shorting Reddit to death.
You’d have to be nuts to invest in Reddit, given the current state of the platform.
- The the CEO admitting reddit is not profitable in its current state.
- The amount of media attention the API change protests have gotten. * The ever increasing amount of search engine links to removed content.
- Memelords already talking about shorting the stock into the ground if it goes public.
- Various scandals involving the CEO, with likely more to come.
- Little to no third-party developers willing to write new software that integrates with Reddit anymore because they are now seen as an unpredictable party.
There is no way any of this leads to significant growth. The user base that has stuck around is generally not interested in the things that make reddit reddit, being a community-driven and -moderated platform. And significant changes to how the platform works (thereby taking away the unique selling points) will put it into a position where there is no real advantage over using competing platforms. This will make binding new users to the platform a difficult task.
The only ones stupid enough to buy lots of reddit stock will have an incentive to change it and make it profitable. We’ve seen musk attempt this with Twitter and just look how that has worked out so far.
The worst part is that Spez will likely still get to cash out and fuck off while the platform dies and burns in his wake.
In related news, I’ve got a pile of human feces and used toilet paper for sale. There are trolling “jokes”, misogynistic rants, bot comments, and incel screeds written on the toilet paper. Any bidders?
Have you considered an IPO of your toilet bin? You could get rich!
0.01€/kg
After carefully processed and composted, that is pure gold for agriculture and soil recovery.
Once again? I thought they were already in the process of it. The API-change was just another piece of it.
They’ve been talking about IPO for a few years, but apparently this time it’s a bit more serious. Unless something happens that throws their valuation down the drain.
Again
Good more chance for Lemmy to grow!
What’s a reddit?
Some site that used to be relevant a long time ago, that now we watch die with morbid curiosity.
Who will be the sucker that buys a site full of bots reposting content for other bots to “discuss”?
Vulture capital. They don’t really care about what they’re buying as long as they get some profit out of it.
That would require reddit to actually be making a profit…
It’s not even good for support anymore. Anytime a search engine gives me a Reddit link, at least 10% of the comments have been deleted. The best information has been gutted.
It’s gotten really bad. Since the protests a lot of subs seem to be just gone and a lot of the old subs that are still there are mostly just bots reposting top posts, with a bunch of bots reposting top comments. Someone made a bot who tracks those repost bots and calls them out (which Reddit could do from within their backend automatically), and some submissions had like 60-70 percent removed bot comments. And of course all of them had a bunch of gullible idiots talking to them.
Interesting, any link to that bot analysis?
Same, really interested in that data
You and him seem really confused to expect any actual data out of an anecdote, but you do you. ¯\_(ツ)_/¯
[Speaking as a mod]
You don’t have data, you were sharing an anecdote, that’s 100% fine. But chill on the passive aggression.Nah, sorry. I have this dipshit troll tagged already from a month ago. He does this crap all the time.
If you see trolling behaviour in this community, please report it, either through the report button or through DM. With evidences that the user is trolling (that’s important).
Don’t try to solve it through aggressions, passive or active, as they encourage other users to behave the same, and make the community less fun for everyone. OK?
What makes you think we expect any data? It was just a kind request if you had any lying around, if not that’s perfectly reasonable. No reason to get dickish about it.
