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
    1461·
    11 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
      2811·
      11 months ago

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

        • m13@lemmy.world
          7·
          11 months ago

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

        • zzzeyez@lemmy.ml
          52·
          11 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@infosec.pub
        3237·
        11 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
          4023·
          11 months ago

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

          • viking@infosec.pub
            2340·
            11 months ago

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

            • ZeroCool@slrpnk.net
              5913·
              11 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·
                11 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
                715·
                11 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@infosec.pub
                520·
                11 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
              177·
              11 months ago

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

            • abbadon420@lemm.ee
              617·
              11 months ago

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

              • JasSmith@sh.itjust.works
                19·
                11 months ago

                It’s insufferable. Originally Lemmy looked promising but it’s basically just r/Politics everywhere now. If I wanted r/Politics I would have stayed on Reddit.

                • Duamerthrax@lemmy.world
                  31·
                  11 months ago

                  Which Lemmy? The code was made by Marxist–Leninist, or at least people claiming to be. One of the largest instances is lemmy.ml and they’re filled with tankies/vatniks/commieboos. lemmly.world being left leaning is just a happen stance of anti authority and educated. The culture reminds me a lot of old slashdot that had a mix of socialist/communists and libertarians.

    • RedditWanderer@lemmy.world
      56·
      11 months ago

      I can’t believe this idiots still on reddit believe it’s “their community” in a publically traded company.

      • BarqsHasBite@lemmy.world
        32·
        11 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
          35·
          11 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·
      11 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·
      11 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.

  • Lucidlethargy@sh.itjust.works
    8·
    11 months ago

    Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.

    So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.