this post was submitted on 30 Jun 2023
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Fidelity has further slashed the estimated worth of its holdings in Reddit and Discord as well as SaaS startup Gupshup.

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[–] Buffalox 125 points 1 year ago (24 children)

I read before all this started reddit was valued around $10 billion.

Now it's already down to $5.5 billion.

These are estimates, since reddit hasn't gone public yet, there is no official market value.

Still I'm guessing that next week it will be valued even lower. Tomorrow is when the real shit hits the fan.

[–] CavalierAlbatross 55 points 1 year ago (8 children)

I wish more people weren't waiting until June 30 to tentatively make a decision or leave. I have a feeling many of them aren't leaving if they haven't already.

[–] [email protected] 23 points 1 year ago (1 children)

I made my decision to leave as soon as I saw how the app devs were treated. Been back only to edit all my comments to state what I think about spez & co. I’ve simply been waiting to add my little weight to the end of month exodus.

[–] Naja_Kaouthia 1 points 1 year ago

I did as well. Just went ahead and ripped the bandaid off, scrubbed my posts from Reddit and deleted my account. No going back.

[–] Buffalox 8 points 1 year ago

IDK but we are close to finding out. In my experience people are generally bad at preparing. And only react when absolutely necessary.

[–] Haha 7 points 1 year ago (1 children)

I decided to leave when I saw how they removed entire moderator from subreddits. Abhorrent behaviour and completely unhinged. I was modding at r/steam for 7 years. Is this how you treat dedicated people to your platform? This shattered the relationship between users and Reddit admins to me. I only removed my account yesterday until they finally hit nail in the coffin with going forward to kill off third parties. I never really used Apollo TBH, but it’s the intent behind what they do that matters to me. Haha.

[–] hup 3 points 1 year ago

Sames, I was a mod for years of a super niche game community that died off with the sands of time. I was fully acclimated to the new reddit site and app by sometime last year, but watching reddit this past month has been like watching someone methodically and deliberately cannibalize their own limbs.

[–] [email protected] 5 points 1 year ago

I wish I had had the time to fully switch sooner. But my life has been nuts, so I'm now scrambling between calls to get into the swing here.

Which is all just to say, some folks live crazy busy lives and can't switch as soon as others.

But also when I was initially going to switch, I was reading that kbin and Lemmy were getting overwhelming traffic, so I wanted to wait for that wave to calm down and ensure the hosts were able to keep up/recover

[–] sethal 4 points 1 year ago (1 children)

I was one of those people; the man reason being the lack of the less popular subreddits (magazines/communities?) on here. Some of my most visited spots on Reddit just don’t exist here. If I’m being honest, I don’t wanna make and mod them either. I’d partake in them, but running one isn’t in the cards. I just don’t have the time. I think those less popular subreddits are the ones that will hurt the most leaving behind.

[–] tobor 5 points 1 year ago

we'll get there, it'll take time, but even in the 2 weeks that I've been bouncing around the fediverse, it's already gotten more interesting.

[–] [email protected] 2 points 1 year ago

I deleted my reddit account after about ten years due to the recent scandals. I think many others did so, too. Reddit is worthless already.

[–] [email protected] 1 points 1 year ago

Why would we expect people to leave? Look at how many people stayed on Twitter and are still there. People can get used to a lot of bad stuff in exchange for doom-scrolling dopamine.

[–] [email protected] 1 points 1 year ago

I wonder if there are a lot of people, average users, that just aren’t in the know, and will only realize the third party apps are gone when they’re physically gone.

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