Nobody is really talking about Reddit dropping value since they banned Luigi posts and sided with Musk to remove communities
Nobody is really talking about Reddit dropping value since they banned Luigi posts and sided with Musk to remove communities
shortly after the article came out talking about how Reddit is bending the knee to Musky's hissy fit, I received two notifications from Reddit; one, a 7-Day ban for "breaking multiple rules" but not telling me what actually happened, and after sending them an appeal asking what exactly I was banned for, I received the second notification, telling me that I was permanently banned for, again, "breaking multiple rules".
as far as I'm concerned, I'm finally free.
Ooopsie, there goes your money. Not exactly a good idea to cross your community, is it?
Free Luigi.
I mean there's little point to become invested in reddit when they're going skew that far right and then censor/delete and ban everything with appeals getting ignored.
Communities are having to over moderate. I can't even say Fuck Christians or Billionaires shouldn't exist without it being hate speech or violence, but rightiods get to spam their lgbtq hate. And the less said about violent Porn subs the better.
Truely a dark time 😮💨
IMO, anybody who invested is a fool. AFAIK the only user-generated content companies that have made the model work are Google (YouTube) and Meta, and that's because they're the advertising duopoly that controls the Internet. Maybe TikTok, but that one's a mess. Twitter couldn't do it, even before Elon they were a big money loser.
So, what does Reddit have that other companies don't? Nothing really. And now that they did their IPO their investors are going to start demanding growth, which means enshittification. But, unlike YouTube where there's no viable competitor, or Facebook / Instagram where there are network effects locking people in. Reddit users are mostly pseudonymous. IMO that also means much more likely to jump to another platform like Lemmy.
Please people, if you are going to look at stock prices, look back a year, two, or more. Reddit was slightly up from its 5 year point when in October 2024, like many other stocks, it wildly went up. It isn't yet back down to the pre-October level. Someone (Musk and fellow billionaires?) have been playing these markets since the last US election to game money out of everyone else. There was no value in the business to justify the jump, just a pump and dump scheme to graft money out of the lower classes/pension portfolios.
Luckily it's dropping again. Burn baby burn.
Not surprising seeing as theyve also been unjustly banning people again. Just got booted off the site today and was given zero explanation besides I "incited violence." The link to the supposed "violation" didnt work then when I asked in my appeal they wouldnt tell me anything. Im left to assume its because my politics didnt agree with the current regime.
The drop started right around the first wave of bans. Fuck Reddit.
Last week, I got a 3 day ban from Reddit. The next day it turned into a permanent ban. Reddit claimed that it was due to a comment made about a video, showing a coach pull the ponytail of one of the girls on his team. While I don't recall what my comment was, as the father of a HS girl who plays sports, it bothered me, but as a man in his 50s, who played football in the 1980s, who periodically got his ass kicked by his coach, when he screwed up, it didn't bother me enough to say anything terrible. Of course, they deleted the post, and refused to elaborate. I've been supportive of Luigi, and have heard that Reddit was coming after Luigi supporters, so I thought that could be the real reason. Who really knows?
Meh, fuck em
https://programming.dev/post/27667403
It is being talked about over here from a Bloomberg / yahoo finance article.
Good, let reddit die. Conversations shouldn't be profitable.
Fuck /u/spez
The less I hear about that shit hole, the better I feel.
Good. Fuck em.
You guys are still using reddit?
Losing after siding with a loser. Entirely predictable outcome.
lol. Cunts.
Man is that overvalued as fuck.
That's because we give absolutely, and that's verified, zero fucks about *eddit and his piece of shit, pretending to be a human being, of a ceo
♥️✨
Are those the reasons for the drop though? I've been completely oblivious to this.
I would need to verify the timelines but I am pretty sure this has jack all to do with Luigi Mangione
And... maybe look at the stock market as a whole. Again, grain of salt without a proper analysis, but this doesn't look much different than the entire stock market that is constantly fluctuating as we wonder what industries will get hit the hardest by the hourly tariffs and which are going to get exemptions and so forth.
Couldn't have happened to a nicer company. Cheers.
Federate. Anonymize. Consensus based moderation. Without that we succumb to tyranny.
Wonder if anonymous will go after Reddit now