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.

  • Etterra@discuss.online
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    2 years ago

    Good. As shitty as they’ve been and as hostile as they’ve become to their own users, I’d live little more than watching the entire damned things crash and burn. More (but still not very) likely though is them desperately selling off before it completely self destructs. Of course if they do sell it, whoever they sell to will likely either make things worse or just shutter it. Most likely they’ll stay the course and continue hemorrhaging usefulness and thus popularity.

    Any way you read the cards Reddit is in a tailspin that they seem unwilling to do what is necessary to pull out of. Which is to say, they’re too stubbornly idiotic to reverse their stupid, stupid changes and make a more open, user friendly, and community friendly platform. And I don’t see Spez being that smart.

    • farngis_mcgiles@sh.itjust.works
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      2 years ago

      All the people that ruined the site will get a nice golden parachute. The C suite doesn’t give a shit what the company actually does. They are there to make sure the important investors get a return on investment and that is it.

  • RawDog@lemmy.world
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    2 years ago

    Good, Reddit has no place in the stock market and no amount of enshittification can save them from this fate.

  • MithranArkanere@lemmy.world
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    2 years ago

    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.

  • _druid@sh.itjust.works
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    2 years ago

    All I use reddit for is porn now, so the ads are really easy to spot. Like if I see someone trying to show me tupperware when I was just looking at goth girls and femboys, I know to keep scrolling.

  • ErinCrush@lemm.ee
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    2 years ago

    I mean why buy shares of reddit? What is it doing? It’s alienating users.

    Literally every single change reddit has done in the past few years has angered the user base, and the bot accounts increase day by day. Go to any niche subreddit, like one for a movie series, show, video game, etc. You will see a ton of “what’s your opinion of X or Y?” And it’s always such a weird choice of words, and it’s clearly just a bot farming engagement to inflate numbers to shareholders.

    I still use reddit, but I never post or comment. I strictly do that on one of my Lemmy accounts. And every few months, something will happen to make the experience worse. Like now, the frontpage “hot” sorting is broken. Just a bunch of zero up vote posts on weird subreddits I forgot I was subscribed to. Now I can’t really get the news like I used to on reddit. It’s broken, and there is tall that it’s a result of Elon meeting with spez to talk about moderating the surge of Elon/Teslur hate.

    Fuck reddit, more niche communities need to come over here, because I’m so tired of having to go through reddit to fine things I’m interested in.

  • MehBlah@lemmy.world
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    2 years ago

    I started to short them last month. Oh well. I knew all this anti free speech stuff is hurting them. They are only retaining the sycophants and the clueless niche people who never go out of their little bubble.

  • SpiceDealer@lemmy.dbzer0.com
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    2 years ago

    Forget about growth. Forget investors. Forget about all those capitalist nonsense. What good are profits if everything goes to shit? The best thing about Lemmy is that it doesn’t give a shit about that. It’s decentralized and community driven. Capitalism prioritizes money not people.

  • Walican132@lemmy.today
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    2 years ago

    I bought a single share when the ipo happened figuring it would be funny. Meant to sell when it was at 200 and forgot. Just checked. Still funny, sucks I missed out on $100 but I figure it’s going to keep going down. I’ll keep my one share. Reminds me to look.

  • Libra00@lemmy.world
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    2 years ago

    And this right here is why I laughed my ass off when they were doing their IPO and offered me an early buy-in. The company has never made a profit to my knowledge, why on earth would I imagine its value would go up?

    • btaf45@lemmy.worldBanned
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      2 years ago

      There is no growth potential at all. They regularly bleed large numbers of users with their rando-bans, and the new user experience is so terrible that there is no reason any new person would ever want to use it.

      • Ledericas@lemm.ee
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        2 years ago

        This time, they overdid it. Since Nov 5th there were at least 3 ban waves by Feb 13th. The same time I got banned, now we are in the 5th to 6th ban wave right now. This way more than normal. Most of them culled OF, and advertisers, for good measure to look fairz they ban the legitimate problem Bots too.