The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure.
Good, Reddit has no place in the stock market and no amount of enshittification can save them from this fate.
Reddit is kinda dead it now
Everything they touch dies
Fuck Reddit.
Got banned over there a month ago, came here hoping to find something of a Sonic community in the same vein as the one over there (very involved in that fanbase, did a lot of my discussion on reddit), has not materialized yet, not enough fans over here, hopefully that changes at some point. I thought at first that it was the open support of Luigi’s alleged actions that got me banned, I could be ok with that, I get it, supporting violence and whatnot, I broke the rules, and they were sensible rules more or less, but the longer I look at the current happenings over there, the more suspicious I am that it was because his name came up at ALL, multiple times. That’s annoying. That feels less justified.
Also becoming more and more glad it happened when it did. Lot of overt, fascist appeasing censorship going on over there. Like it’s not even subtle. There’s no ambiguity in it, it’s just “this post criticized or disparaged Musk or Trump in some way. (Removed from Reddit).”
Any criticism of conservatism is grounds for removal now. I can’t believe it’s gotten this far.
Is there any Sonic community on Lemmy? Did you make one? I’m a casual fan, but I’d join.
!sonic@pawb.social is the biggest one I’ve found but it’s VERY inactive. You’d be better off going to a Sonic forum like the Sonic Stadium message boards, but those are a little less penetrable than something like reddit because EVERYONE there is a huge, dedicated fan, and it can get really strongly opinionated.
good
I’m fairly certain they misled investors on their last earnings call. I noticed some banned accounts suddenly had their ban lifted right before the call, and then reapplied right after.
On the last investor call, they said they had a lot of returning users. This was after their election ban hammers, and prior to the Luigi ban fest.
Can’t wait to see how they try to spin things on the next one.
Let’s pick a day and everyone short it
Musk strikes again
I just don’t understand why a person would choose to invest in Reddit. What exactly is the value proposition here?
I’m not sure why anyone would ever buy Reddit stock. There is no money to be made in Reddit. They failed to make any money before they went public, and they’re failing to make any money now.
They tried the whole NFT thing, failed. They’re trying to sell the data to AI companies but once that’s sold they can’t sell any more of it because the benefit of Reddit data was historical data unpolluted by AI, but new Reddit data is polluted by ChatGPT posts and is therefore worth less.
It’s not even about banning people, it’s about the fact that Reddit was never a sustainable business model from the start, at least not in the traditional capitalist sense where you’re actively trying to make a profit to please shareholders.
The only benefit to owning Reddit stock is if you have voting shares and can manipulate the algorithm to benefit you in some way. Suppress some voices, amplify others to back what you want to do etc. but you need money to burn in order to achieve that because you aren’t going to be making money directly by owning Reddit stock and manipulating public opinion takes time.
It’s not even about banning people, it’s about the fact that Reddit was never a sustainable business model from the start, at least not in the traditional capitalist sense where you’re actively trying to make a profit to please shareholders
If they’d been stalwart about banning automation and keeping original, legit human content pure, they probably could have used it as a fountain of fresh data for AI, for polling, for engagement farming, and for promotion.
The site was still growing even despite the admin induced atrophy. But they just couldn’t resist killing the Golden Goose.
I disagree that Reddit would gain in value over time if they kept banning automation, because it is increasingly difficult to avoid AI-generated material polluting your dataset, no matter how much you avoid automation and try banning it. Inevitably, some AI-generated material is going to get in.
It’s a problem in two ways:
- The vast vast majority of data on Reddit has already been sold, so you can’t rely on that data for future revenue
- The remaining data that’s current is polluted by AI and is therefore worth less than the historical data because the more AI pollutes your dataset, the more likely it is to lead to Model Collapse, where an LLM is poisoned due to unverified data generated by other LLMs
I am firmly of the belief that sites like Internet Archive will be some of the most valuable companies in the AI space, because they hold an immense amount of untainted data created prior to 2019.
Except AI companies are already using data from Internet Archive wholesale with paying them a cent.
Why are so many people here calling Spez “Spaz”? Isn’t that considered to be a slur similarly to the r-word?
Edit: Mind actually answering my question instead of mindlessly downvoting? Jesus
what’s your point?
Gee, that’s too bad. It would be a real shame if that piece of human garbage Steve Huffman lost everything. A crying shame.
Sadly I’m sure he already has a golden parachute prepared.
They all cashed out after the IPO. They’re probably laughing at the bag holders right now.
There may still be lawsuits, however. There are still many ways that he could lose a lot of what he gained.
I think you mean presidential pardons
🤞
Ewww
Lets keep this about Rampart.
That idiot CEO is doing idiot CEO things.
Everyone knows that if he keeps bowing down to Musk’s pressure and enshitificating the platform, people will leave for greener pastures as soon as there’s an enticing alternative like they did with X.
CEOs surround themselves with the most conceited and naive of all echo chambers.
They live in an imaginary world in which their backward opinions work better than what has been proven to work time and time again by every research ever done on any subject. They will one day wake up to a blue sky, claim it’s actually pink with green polka dots, and blame “the woke agenda” or some such nonsense when they are obviously proven wrong.The closest analogy I’ve ever heard for what modern CEOs have become is “Like a bunch of Naked Emperors jerking each other off while shitting all over everyone below them”. As accurate as disgusting.
