SNOOcalypse - document, discuss, and promote the downfall of Reddit.

And what could they use the money to do? How much innovation has there been on Reddit since it was written? Fancier Reddit gold? A shitty redesign? Video hosting that doesn’t work? Image hosting so bad someone had to make totally separate website for it?

Rexxit had over $500,000,000 in revenue in 2022. It wasn't profitable because spez spent money paying for all the infrastructure and bandwidth for multiple AI companies to harvest all of rexxit's data, and because he's constantly distracted by trying to incorporate the latest tech-bro trends into rexxit - rexxit crypto, rexxit NFTs, now he's trying to figure out rexxit AI. He's a breathtakingly incompetent CEO.

I feel like Greedy Pigboy and Reddit Inc. as a whole deserve to be punished, for all that "my precious data! No, it is not the users', IT IS MINE! MY PRECIOUS!" fiasco. Enshittification will happen either way.

Nah, they don't need to do that when they can already influence user decisions by faking a consensus.

They "fuzz" votes. They give themselves "gold" and promote articles. Then they have the first few comments all say the same opinion in a few different ways, and suddenly people start agreeing for fear of being "in the out-group". It takes so much effort to flip the tone of the components section once it's got a vibe.

If not, delete and restart until it works.

I bet it'll be like the old days where they use bots to post fake comments to appear more populated.

Amen. 9 years on reddit. I spent countless hours per week browsing and posting. I don't have Facebook, Instagram, Snapchat or any of that shit... Literally was just reddit. And he destroyed it.

If I being honest... I know that all those hours I was wasting was literally just that... Wasted time. But... I enjoyed it, so I don't care. I miss the good ol reddit days.

Fuck Spez should be a t-shirt.

Edit: I should clarify that I DO appreciate what has gone into the fediverse and it provided me a place to go for a similar experience. To any of the devs and people growing it... Props to you all! The dev who made sync work for lemmy... My dude... Thumbs up! Sync was hands down my all time favorite reddit app, and now I have it here!

The value is in IP and eyeballs, not physical assets.

Sorry, what is a "put"?

Honestly, I don’t know on this one. It’s tough to guess on internet companies, especially social media.

I think they’re facing pretty strong headwinds that have nothing to do with how we may personally feel about the company. Going off of memory, their valuation was slashed between their first talking about an IPO in 2022 and April-ish of 2023, which is when they started with the push towards monetization and which eventually led to shutting down the API to third party apps. I’m not sure where the $18B falls on that spectrum. I’m also not sure about the underlying metrics, like revenue per user, costs of acquiring new users, and so on. I don’t know if their growth has slowed or accelerated since the API change, but I also don’t think there’s a real competitor at this point (lemmy hasn’t reached critical mass and community fragmentation will probably mean it never will).

On the other hand, I’ve felt since last April or so that the stakeholders are looking to exit. It really feels like spez mismanages the company and is just looking to cash out, take the billion or two and move on to his next thing, after which it will be run by a b-school type who will run it into the ground.

All of which is to say I wouldn’t buy it for my retirement portfolio, but I also wouldn’t short it on opening day. I do suspect they’re underinvested in trust and safety and will run afoul of regulatory bodies, and Reddit is not the household name that Twitter is, so they’ll be easier to ban from markets.

You can short it at open and hope you have enough collateral to withstand a lot of volatility through the hype cycle. Long term I expect you'd win but it wouldn't be comfy getting there.

O SO YOU THINK WERE NICE HUH! WELL YOU HAVE A NICE DAY!!

YEAH THATS RIGHT I JUST WISHED YOU A NICE DAY, WHAT YOU GONNA DO ABOUT IT >:D

both reddit and it’s users couldn’t give a fuck that we’re gone

And I don't give a fuck what they give a fuck about. I'm glad that I'm here instead of there. Their success or failure is now irrelevant to me.

He has zero interest in Reddit past the IPO. Even if it bombs, he's gonna make a fortune. If it sells for 1% of that 15 billion valuation it'll have grown 15x in value since it was sold in the 2000s.

He's no longer a 50 percent owner, but he's going to do well in this no matter what, and will never need to work another day in his life.