A lot of Redditors hate the Reddit IPO
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“Yea I’m not buying. But I will be watching it tank.”

A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

  • jaybone@lemmy.worldEnglish
    613·
    9 months ago

    I don’t get why, if these people hate Reddit so much and they want the IPO to fail, why are they still using the platform?

    Once people get burned with that stock purchase email, they are going to have even more pissed off users.

    • Lionheart_xa@lemmy.worldEnglish
      17·
      9 months ago

      As someone on wsb and totally going to short the stock. They named the sub in their Ipo and that we were going to short the shit out of them.

      I think it would be rude not to deliver on said promise. Honestly from what I’ve gathered on the wsb discord we kinda just wanna see reddit on fire. At least that’s the general sentiment I’ve perceived.

      Also the main thought has been that as soon as they IPO they’re gonna get their board taken over and kick us out first thing.

    • GhostFence@lemmy.worldEnglish
      15·
      9 months ago

      Reddit has a near-monopoly on forum communities. It is ranked 16 on similarweb and no other competitor comes even close in terms of community size. It’s like Facebook in its dominance.

      • SkippingRelax@lemmy.worldEnglish
        24·
        9 months ago

        Is it though? Everyone I know aged 20 to 85 i on Facebook, some more active than others. I think I know 3 people irl that use reddit. Mind you I’m not in the US, where is more prevalent but most people I know have barely heard of reddit.

        Sure, it has near monopoly on forum communities but that’s a tiny niche on the internet

        • fossilesque@mander.xyzEnglish
          31·
          9 months ago

          Most normal people don’t admit to using Reddit, and it is not a platform you use to connect with friends in real life. Facebook has a different use case entirely.

          • SkippingRelax@lemmy.worldEnglish
            1·
            9 months ago

            Fair enough, still feels like we are comparing nestle with your city’s local chain of 7 minimarkets, sure I might have a few more acquaintances that use reddit but that is not 100% of them. I did a quick search from my phone, hope the sites is reliable and that I didn’t fuck up anything

            According to this reddit had just under 75 million daily active users in q3 2023 https://www.statista.com/statistics/1453149/reddit-quarterly-dau-by-region/

            In the same q, Facebook had https://www.statista.com/statistics/346167/facebook-global-dau/ 2110

            So reddit need to grow another order of magnitude for op statement that it is comparable to fb in its dominance to become remotely true. Ideally two orders of magnitude.

            I get it, we have all spent too much time on reddit for years and feel like that’s basically the whole of the internet but we are biased, there is a whole majority of people out there that don’t even know that exists

        • ghterve@lemmy.worldEnglish
          1·
          9 months ago

          Your first sentence suggests you’re disagreeing, but nothing you said after that is incompatible with anything gp said.

          • SkippingRelax@lemmy.worldEnglish
            1·
            9 months ago

            They are saying it’s like Facebook in its dominance, I’m saying it’s not like Facebook, clearer now or you want me to come over with a whiteboard?

    • pjwestin@lemmy.worldEnglish
      13·
      9 months ago

      It’s where a lot of centralized communities are for niche topics, so it’s kinda hard to just drop it entirely. I haven’t posted on Reddit since moving to Lemmy, but I still lurk on some of my old subs for news and events in my city or to keep up to date on some of my hobbies. I can get memes and news here, but for the hyper-specific stuff I can either lurk on Reddit or dust off my Facebook account and try to find a relevant Group. Given the choice, I’ll take Reddit.

    • buddascrayon@lemmy.worldEnglish
      11·
      9 months ago

      I don’t get why, if these people hate Reddit so much and they want the IPO to fail, why are they still using the platform?

      Why do people still use Xwitter even though that entire platform has become a wasteland of bigots, assholes, and authoritarians?

    • Dr_Satan@lemm.eeEnglish
      83·
      9 months ago

      Because that’s where the convo is.

      But that’s people. People make convo. We like people.

      What we hate is the spider. Squatting on, manipulating, sucking the people.

      Kill the spider.