Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.
  • ZeroCool@slrpnk.net
    137·
    9 months ago

    Thank fuck Lemmy exists. Reddit has been a shell of its former self for a very long time but in the last two years or so it’s gotten awful. Things will only get worse once Reddit goes public.

    Lemmy reminds me of what Reddit was when I joined in 2011. Much smaller user base that tends to be tech savvy. It’s an old school forum vibe I thought was gone forever.

    • zzzeyez@lemmy.ml
      309·
      9 months ago

      plus it doesn’t have that whole half-the-userbase-is-US-Military-bots thing goin on

        • m13@lemmy.world
          7·
          9 months ago

          True. There are also Israeli military bots, and Russian military bots, and Chinese military bots.

        • zzzeyez@lemmy.ml
          52·
          9 months ago

          yeah i’m just referring to the study that was published and then hidden. but i think if you scroll through anything stock-related you’ll notice lots of bots too. i think Citadel plays a huge role here

      • viking
        3236·
        9 months ago

        Instead we have half a userbase of hardcore leftists. I’d really like to have a solid non-political platform instead.

        • zzzeyez@lemmy.ml
          3820·
          9 months ago

          did you just say you don’t mind capitalism destroying all semblance of life

          • viking
            2240·
            9 months ago

            No, I said I don’t want to talk about politics and politicize every single discussion.

            • ZeroCool@slrpnk.net
              5612·
              9 months ago

              And yet here you are… the only person in the comment section mentioning politics.

              In my experience people like you who take every opportunity to complain about a site/user base being “too political” are only upset their own views are unpopular. Political discussion tends to magically become acceptable when they agree with the prevailing sentiment.

              • LucidNightmare@lemm.ee
                6·
                9 months ago

                I agree with you.

                The people who say, “I don’t like to talk about politics” are the ones who have the worst opinions about shit and know they will get called out and god forbid anyone not like my opinions!

              • Squizzy@lemmy.world
                515·
                9 months ago

                It’s a fair criticism and on topic, you are allowed to disagree without jumping down his throat.

                Left leaning people are more likely to be adventurous and educated, too things that would lead someone to a new site with a tech savvy user base.

              • viking
                520·
                9 months ago

                Nope, I don’t engage in any such discussion unless forced to, in which case I make my point and withdraw.

            • zzzeyez@lemmy.ml
              176·
              9 months ago

              i wish i wasn’t homeless so that i could just plug my ears like you

            • abbadon420@lemm.ee
              517·
              9 months ago

              You shouldn’t have mentioned it. They’re like the infected in TLOU. If you make a sound, you done for!

      • BarqsHasBite@lemmy.world
        29·
        9 months ago

        I think they’ll start to realize when Reddit starts posting quarterly profits/losses and we hear about spez’s fat paychecks.

        • empireOfLove2@lemmy.dbzer0.com
          33·
          9 months ago

          They’ll post continuous losses like every social media tech company, and then the users will really begin to feel the screws tighten so far they won’t be able to breathe anymore.

    • DBT@lemmy.world
      27·
      9 months ago

      Spez doesn’t have a yacht. That’s what got his dick all tied up into a tiny knot in the first place.

    • MentalEdge@sopuli.xyz
      16·
      9 months ago

      Modern tech giants keep taking funding rounds to grow, because what’s profit now when you can spend and get bigger, so profit later can be even more huge?

      Except investors are finally waking up to the fact that growth doesn’t help much if the business isn’t profitable, now or ever.

      Reddit can pound its chest about how much it thinks it’s worth, but that’s all it is.

  • Lvxferre@mander.xyz
    262·
    9 months ago

    Archived link, for those who are paywalled.

    I’m hoping for some mod rebellion crashing this value even further. And by “rebellion” I don’t mean just posting Oliver pics; I mean at the very least ditching the subreddits that they moderate. Perhaps a few other things like:

    • organising mass emigration
    • scorching the earth behind (encouraging users to migrate/delete content)
    • filling the site with crap that would discourage other users from ever registering into the site (goatse tier)

    I don’t think that they’ll have the courage to do any of those things though. A Reddit mod - or at least, the ones still modding Reddit - is that sort of dog that someone kicks and then it’ll still lick their boot. Spez outright mocked them as “landed gentry” and they’re still working for free there, it can’t get lower than that.

    • viking
      282·
      9 months ago

      Everyone who wanted out is already out. Current mods have fallen for the narrative or have been installed by reddit.

      • Lvxferre@mander.xyz
        7·
        9 months ago

        I think that more people will want to leave, as the IPO progresses. Including mods.

        My main concern is that won’t be fast enough to punish Reddit Inc.