Pretty simple - same folks who bought Xitter and Trump are pulling their $ out until Reddit starts censoring shit they don’t like. It’s not a coincidence that “Luigi” became a banned word last week.
Well, I guess that’s related with the boycott to American products.
I don’t understand what that would have to do with a social media site
The movement it’s expanding to all areas. Check the group Buy from Europe, inside Reddit, you’ll see that people are trying to go as far as possible. Also, the Dollar is loosing value against the euro lately
Now what I under understand (not condone) is the reddit leadership trying to cash out.
What I cant understand is why a VC / big investor would want to touch it with a 10ft pole. There is nothing unique or proprietary on Reddit. Its value commercially is in the existing content and paid ads. With ads you’re limited because you can only saturate so much before you see user drop off.
Now they took it one step further and are censoring the content creators that make it all possible in the first place. As if anyone is stuck on that site - I know I’m not.
Anyway - nice to meet everyone. Fled digg for Reddit; now thankful this island appeared after fleeing once again.
Digg still continues to exist to this day. I’m sure reddit will do the same. Become an unused relic of the past that nobody uses anymore
Reddit has a huge user base, that is their value. They generate a lot of data every second, which can be sold. Of course this is technically possible on other platforms, but they do have it right now right here.
I get that, but long term investors need to be confident that the user base will stick after continuing to erode the platform.
That’s the part I have no confidence in. Will they make money for the short term? Absolutely, and a lot of people will get rich. But in 5-10 years?
I joined reddit ~15 years ago and there was already a very large, active userbase. It’s not a young platform, and there have been multiple protests against them by their users, yet reddit is still very much alive. I don’t think the confidence from investors is unfounded. Pissing off their users has kind of proven that there isn’t a real competitor out there.
We’re in the minority of users who have actually gotten fed up with them to the point of finding an alternative. Most people will complain but still stick around and stay active on reddit. They get new users daily who don’t know reddit as anything other than what it is now. People generally don’t care.
As is, I don’t see them going out of business anytime soon. If they continue to make ridiculously idiotic business decisions they might, but that’s on-brand for them at this point.
I can see it going either way.
I probably spoke to broadly and I agree with you 100%.
It is not something I foresee happening overnight. But a slow decay.
As censorship, commercialization and advanced bot traffic increase, the content quality will go down. Once it becomes a forced echo chamber (vs the organic it is now), it starts to look like Twitter post Elmo acquisition.
Now does Twitter still have users, paid subscribers and traffic? Absolutely. Does anyone want to buy their stock?
And I’ll repeat this until I’m blue in the face and user name - it’s an old website forum - nothing unique from a technical standpoint. Anyone can start one who has the hosting ability. Their moat is the users. They have no ecosystem that locks you to their platform. The only thing lost from leaving is your reddit Schrute bucks and Stanley nickels.
Edit x5 because I can’t spell Schrute
I don’t think we’re the right demographic to judge that as our view is very distorted by our own experience. The reddit “exodus” is barely a blip in their daily user count - in fact DAU has gone up by 50% since the API changes which is huge especially for a mature platform. This makes it very desirable as it shows that the more aggressive monetization effort doesn’t in fact drive users away.
That’s why I’m here now.
Welcome!
How the heck were they ever valued at $US200 per share?
Price of the share is irrelevant. Please reference market cap.
Edited to include more info, thank you for pointing it out. I’d known in my head the share price started in lower double digits without major changes in supply of shares, added it all for context.
the price is supposed to be based on future valuation
A lot of overpriced stocks are pulling back. A recession is bad for ad dependent media.
I’m all for shitting on Reddit, but the overall market has cratered in the past week or so. Everything is down a ton. This is just cherry picking situational graphs to push an anti reddit agenda. Again, fuck Reddit, but at least make an effort…
Special price on Tesla this week. :)
Yes, but 40% is insane. Thats not just the markets 1-2% blood red days
It was wildly overvalued to begin with. Even at 40% down its overvalued. It has a negative EPS. It can be replaced with a ragtag group of federated instances.
Its not worthless, but its not worth 133 a share cmon…
When there’s a sellout “meme” and tech stocks with a lot of hype are amplified, and Reddit is 100% that.
See: it’s still up 165% over a year. The gyrations are insane and not tethered to its actual value, but basically a bunch of gamblers.
I mean it’s not rare for tech lol. Nvidia is down an absolute fuck ton too. Same with AMD.
Also the entire market is down closer to 10%. The market being down 2% in a day is the overall market indexes. There are wild variances in that number per individual company.
If you back out the view to 6+ mo. it matches the overall decline of the market in general. You could grab many stocks and ask the same question and it would be correlation, but not any cause by the particular company.
Putting the red in reddit.
Unfortunately the it already left when I signed up here a couple of years back.
Yep if they remove us we remove them free speech for the parasitic class of exploiters censoring for the 99% no war but class war.
Uhh guys I hate reddit too but the entire economy is tanking.
This isnt a reddit thing and has nothing to do with reddit itself
Compare to s&p 500, nyse, NASDAQ, etc.
It’s down all around but not 40% down
Not yet anyway
Fuck the Y graph doesn’t start at zero though.
Nah man, skipping keeps my data legible so you can clearly see trends
That’s pretty standard practice with stocks because traders are more interested in seeing the detail of what the price has been doing than they are in seeing how much it has changed in total. That and the stock should never be anywhere near zero unless the company is on the verge of total collapse (and usually by that point it becomes de-listed)
When you start banning long-term users over bullshit. This happens. Hope it crashes and burns all the way to the ground.
This may just be a general trend. I don’t know if you looked at your portfolio recently but everything has tanked.
By four percent, not forty.
Lots of companies tanked by over 10%. Crowdstrike for example tanked 20% in one month. Vista corp tanked 33.1% in a month.
And even more didn’t.
Yes, but the reason for reddit being down 40% is still related to the market. SPY went back to the same price as October.
Reddit is pretty useless for getting any kind of advanced information on any topic. The impression I had of the US election based on it was completely out of line with reality, so in that case it couldn’t be trusted as an accurate source of information on current affairs.
People are addicted to it, but you’d have to be pretty sad to pay for it.
Blocking ads on it is a trivial matter. It never made any money.
The question is why did anyone think it would ever be worth much at all.
Stop, stop! He’s already dead!
The impression I had of the US election based on it was completely out of line with reality
I’ve largely switched to Lemmy for the past two years, but this was really the last nail in the coffin for reddit for me too. It’s an enforced echo-chamber and no longer a reliable source of information. It’s hard to notice how bad things are when the politics are leaning in your direction, but once you see it, you can’t unsee it, and it feels gross.
Lemmy is obviously pretty politically homogeneous too, but the difference is that I don’t feel like someone is trying to trick me. Topics and and sources are clearly influenced by the individual posters’ opinions, but it doesn’t feel like there’s a coordinated behind-the-scenes effort to push an agenda, which makes for a better vibe.
For me, it was the massive uptick in bans that proved the manipulation was real
lemmy.world news and politics subs mirrored reddit strongly during the election shill op
people were banned to ciritizing Kamala’s campaign. Any discussion of 3p was also banned.
With that being said… federated nature permits people with different opinions to find other subs for discussions.
There’s a difference between being banned and being downvoted to oblivion for pushing idiotic tactics.
i said banned…
Lies
Absolutely correct, comrade. And what happened? We leftists told everyone Kamala is evil, and the people listened to us and didn’t vote Democrat. We got Trump into the white house. And then the Democrats realised that they need to appeal to the left to win next time. So they’ve cleaned up their act and taken genocide off the agenda. And now they’re actually stopping Trump’s fascism. He’ll be impeached any day now!
I can’t tell if this is sarcastic or serious.
I choose to believe that the current Republican regime and the pressure by Democratic constituents on Democrats will push the Democrats to be more liberal and do more, but honestly there’s some clear “first Hitler then us” vibes to that thinking that I can’t get past
Yep, its got pretty extreme. So many comments seem to be bots, and it really feels like you’re being pushed in a certain direction. I can’t fathom how it got so bad
There are bots on here too. I’ve noticed a lot of handled accounts that will reply consistently with pro Russian propaganda. Some may be bots, but others are handled. Either way, the goals are the same.
You sadly can’t escape it these days.
No matter where you go, it’s best to be aware and double check sources.
I’ve noticed a lot of handled accounts that will reply consistently with pro Russian propaganda.
without evidence, you are just spreading fud
I said “I’ve noticed” which is anecdotal, but others have shared similar experiences with me. That along with the well documented interference campaigns, it’s not a stretch to draw the same conclusion here on Lemmy.
Did you read the article I shared by chance?
this is just more fud.
I wish I didn’t have to be skeptical, but sadly I do. If you read the article I shared, it outlined how insidious foreign influence campaigns can be.
For example, in 2019, 19 of Facebook’s top 20 pages for American Christians were run by Eastern European troll farms.
That’s just one example of many. We all need to be hyper vigilant.
So this place isn’t overrun by bots. Awesome. As someone new here, are there fewer bots bc it’s a smaller audience, or are there actually protections against bots?
lesser bots, i think because reddit bots are mostly political propaganda ones from RU and US.
So, it’s all down to federation, essentially. If an instance allows its users to act in bad faith (lemmygrad, exploding heads, etc), then typically people will ask their instance admin to defederate from them or else move to a server that will. And if you can’t find a server you like? Great news! Just pull down the source code and start your own!
Worth noting that lemm.ee pretty much does not defederate with anyone so is great if you are going to be moderating any communities because you can actually see nearly everyone that is posting.
Yeah, I also have a strong [left] libertarian bent, and I appreciate that .ee admins trust me to block servers I don’t want to see for myself. I think the only two that .ee has defederated from are lemmygrad and exploding heads (Nazis).
Unless I am wrong I don’t even think that those ones are blocked.
Oh shit, maybe I’m just banned lmao
Welcome welcome! The few bots that try to spam have been found out and disconnected relatively quickly (there have been a number of Fediverse-wide intentional efforts to spam that were dealt with).
The comment quality tends to be higher on average and braindead meme chains that bots can copy for karma farming are far less common.
That said, the Lemmy experience is yours to craft. Subscribe and block as needed, don’t feed the trolls, don’t sweat getting a few downvoted comments here and there, report bad behaviour and have fun.
Are you an Apollo exile?
I was a “Reddit is Fun” user for at least a decade
I literally just uninstalled both rif and rif premium 1 minute ago. Their last update was June 2023. I can’t believe it’s been that long.
Its value is equal to its usefulness as a propaganda organ. Twitter wasn’t purchased to make money. A megaphone is more of a tool than an investment.
Dunno, I think Musk was forced to buy it, then he suggested it was going to be all sorts of things while massively cutting costs, before pivoting to giving Trump a quarter of a billion in order to get access to government.
I don’t think there was any intention to buy twitter for propaganda, and I haven’t seen any evidence that shows to what degree (if at all) it helped Trump get elected.
I mean, you DO understand that the current situation involves granularity like we have never witnessed before, algorithmic fuckery that we have been warned about, and the fact that access to Twitter data in controlled by the guy who initiated all of the fuckery involving twitter, right? What I’m saying is that your standard for evidence is not in touch with the current reality. Fortunately, this guy can’t seem to hide his intentions, so we really don’t need an in depth analysis. The only ones who would wish for the rest of us to demand such a thing in order to believe what we are seeing in front of our very eyes are the ones who would benefit from the truth being obscured… Oh. I think I understand now
I wish I was naive as you.
he only used it as a propaganda tool after he was forced to buy, he had to make that money back somehow, SAUDIS and putin did step in to help.
Reddit is pretty nice as a source of information, but mostly on smaller and more obscure things, not big political topics like US elections… that’s what the last year has taught me, at least.
I thought they were supposedly going to be making money selling training data for AI’s.
And what is an ai trained on reddit going to help with? Misinforming people on specialised topics, or misinforming people on current affairs?
Edit - I suppose you might be able to train an ai not to reply as per replies on reddit, dunno.
lol
Fuck if I know. I never said it was a good idea!
