- cross-posted to:
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- cross-posted to:
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- [email protected]
Summary
Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.
Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.
Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.
Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.
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Aww, did Spez trade the family cow for some “magic” beans?
Good luck rebuilding the farm now, buddy.
hi i am the human male, called spez, i was birthed from a alien space ship , and hatched from an egg and sent to earth to manipulate the populace.
My parting message to Spez when I changed all my posts was, “Enjoy the IPO asshat!” While I wish I could update that message, it’ll still do. xD
Good, Reddit treats its users like preschoolers. If you say something even slightly against their rules, they ban you.
Just like Lemmy admins do!
Die reddit.
You don’t belong in this world!
I remember the early days of Reddit when it really felt like a community project. Back then, they had the goodwill necessary that Redditors would have personally financed a chunk of the costs of running particular Subreddits. Not anymore. That goodwill is gone.
something something live long enough to see yourself become the villain.
Been and deleted every post and comment manually. Do I need to do anything else?
There’s an add-in that’ll replace your comment’s text with gibberish. I used that.
asdf
Spez and csuites dumped their stocks months ago, probably squeezing the last ounce before they turn it into a Facebook clone, where FB is using AI of resurrected accounts to push right wing agendas
The lock up period expired last year. The smart money left.
/r/wholesomenews
Sucks to suck. Fuck Spez.
Look, we can all laugh at that guy. That’s it, that’s the end of my comment.
Honestly reddit is still underrated in terms of social media value but it’s a doomed platform from management pov. Its just so leaderless and spineless rn.
they already made thier bank by selling thier shares a while ago, they dont care anymore.
This “company” has no real path to profitability to speak of.
There are plenty of well-funded organizations willing to pay good money to shift various Overton windows. Especially now that Google is so enshitified that people append “Reddit” to the end of searches.
Yeah I mean there’s that but the reddit demo uses ad blockers frequently and ad-based content on reddit is already probably not that profitable. There’s a lot of people running astroturf campaigns for various things, but how are you seeing revenue out of that? Some schmuck buying the wrong type of portable speaker because of a crappy recommendation won’t add to reddit’s bottom line when it’s the speaker maker’s internal marketing intern. If anything, it’ll just further cause people to lose confidence in them.
The only path they had toward profitability was feeding all of their user data into AIs for revenue from AI companies, but chatbots are also unprofitable and that revenue probably won’t even cover the costs to run the servers, and besides how many companies are going to be dumb enough to pay for that privilege? We’re talking about folks that already stole every piece of artwork, literature, and news article they could get their grubby little mitts on. Why would they continue to pay reddit?
Ultimately the biggest conceit of the “attention economy” is the idea that attention automatically translates into dollars.
(And they’re bleeding attention too.)
Let me know when spez is living under a bridge, so I can go piss in his cardboard-box shelter.
When do we think Musk or Zucker going to buy Reddit, and call it something stupid? Redbook? xIt?
FaceIt? lol
Reddx? Sounds like a porn site.
A community is called a subx. So you might have /x/The_Elon, you can buy premium or coins or whatever using $Trump crypto. Russian bots are moderators. Truly a magical future to behold.
And a wrong upvote gets you a ban and a visit from the FBI
Spez can suck a taint. I was on there forever and immediately bounced once that bullshit banning stuff started happening. Should have left sooner but that was the final straw
He was pretty much on musks taint
For real, they probably go bang kids together
Who could have foreseen that banning all the highly active, long-term accounts in the same month would have a negative effect? Now they can live with all their bots, puns, Russian Karma Farmers, novelty accounts, and trolls.
Yeah, same here. It took a few things over time to ultimately get me to leave, but my finding out many of my comments were being shadow-removed was it.
I commented on a niche sub a few days ago, and it got shadow removed by the mod, don’t even show up as a violation on the inbox, then it triggered a “suspicious activity on account ban, until I change password”, also because I used a Firefox fork instead of the chromium browser
Tends to happen when you ban all of your users
He listens to swatsticars guy why would any care any more
Boo hoo
