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.
The value of Reddit is the content which it is able to create. If users aren’t free to create content, there is not value.
Fuck Reddit.
Daily reminder that Reddit automatically gathers your data.
If you still have a Reddit account, change your privacy settings right now :
Reddit is kinda dead it now
Good. I got banned just today for “inciting violence” then when I asked what I did they couldn’t tell me. Musk pressuring spez into harsher moderation is probably part of why I was actually banned. I followed every rule but was active in left wing communities and it seems that’s enough to be deplatformed under the trump regime.
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.
Hey cool beans we’re the direct result of that! What good news!
I trust reddit as far as I can throw it these days.
One man’s slowing growth is another man’s hardening growth (me, from reading this headline).
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.
I mean, with all the censoring and pandering to Musk, allowing for entire bot swarms to the point it really becomes obvious it’s happening - who could have predicted this?
That’s right, kids. Allying yourself with fascist tendencies in any way, shape or form will hurt you in the long run. Just provide the damn service people are looking for and stop playing god, trying to use your platform to shape opinions and censor statements you or your buddies don’t like.
They’ve banned all of the good people that made up the site. I used to do Secret Santa. For 10 years! And I had mothers thank me for making their kids holidays. And they banned me. Because I made a death joke about how old McConnell was. Dude looks like death walking. Prove me wrong.
I was a good user. Dark humor isn’t hurting anyone. Reddit will die. Just like every other popular site.
Shouldn’t suprise anyone especially with the recent grovelling before Musk.
I’ve created this account here today particularly because I found that behaviour absolutely disgusting.
Everything they touch dies
I wonder how long until they ban porn. That’ll kill it dead for sure.
