- cross-posted to:
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- cross-posted to:
- [email protected]
Summary
Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.
Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.
Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.
Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.
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Spez can suck a taint. I was on there forever and immediately bounced once that bullshit banning stuff started happening. Should have left sooner but that was the final straw
Yeah, same here. It took a few things over time to ultimately get me to leave, but my finding out many of my comments were being shadow-removed was it.
I commented on a niche sub a few days ago, and it got shadow removed by the mod, don’t even show up as a violation on the inbox, then it triggered a “suspicious activity on account ban, until I change password”, also because I used a Firefox fork instead of the chromium browser
Who could have foreseen that banning all the highly active, long-term accounts in the same month would have a negative effect? Now they can live with all their bots, puns, Russian Karma Farmers, novelty accounts, and trolls.
He was pretty much on musks taint
For real, they probably go bang kids together
This “company” has no real path to profitability to speak of.
There are plenty of well-funded organizations willing to pay good money to shift various Overton windows. Especially now that Google is so enshitified that people append “Reddit” to the end of searches.
Yeah I mean there’s that but the reddit demo uses ad blockers frequently and ad-based content on reddit is already probably not that profitable. There’s a lot of people running astroturf campaigns for various things, but how are you seeing revenue out of that? Some schmuck buying the wrong type of portable speaker because of a crappy recommendation won’t add to reddit’s bottom line when it’s the speaker maker’s internal marketing intern. If anything, it’ll just further cause people to lose confidence in them.
The only path they had toward profitability was feeding all of their user data into AIs for revenue from AI companies, but chatbots are also unprofitable and that revenue probably won’t even cover the costs to run the servers, and besides how many companies are going to be dumb enough to pay for that privilege? We’re talking about folks that already stole every piece of artwork, literature, and news article they could get their grubby little mitts on. Why would they continue to pay reddit?
Ultimately the biggest conceit of the “attention economy” is the idea that attention automatically translates into dollars.
(And they’re bleeding attention too.)
When i said fuck spez, that’s exactly what i had in mind
Honestly reddit is still underrated in terms of social media value but it’s a doomed platform from management pov. Its just so leaderless and spineless rn.
they already made thier bank by selling thier shares a while ago, they dont care anymore.
I hope reddit dies.
I’m doing my part!
I got banned and figured it was a good time to kick the habit any way.
It’s much healthier without constantly seeing some bad-faith, AI-crafted post that tries to get under your skin, prying open your values and baiting your outrage so you can think you’re actually achieving anything of value by biting the bait and trying to correct morons who aren’t even real humans.
I do not miss the site.
Then they’ll all come here
Removed by mod
Talk about failing to pivot. Reddit was in such a good position to ride the AI bubble. Too bad all of their content had already been scraped. They then alienated their power users and casual users got a peak behind the curtain. New, interesting things don’t start on Reddit anymore. The entire front page is just trump articles and reposts. You can predict all of the top comments because it is the same shit over and over.
Not to mention they made that deal with Google for a fraction of what it was worth. I don’t know what the fuck Huffman is doing. Just a greedy little piggy who doesn’t even know how to make money.
more or less its going to be like facebook and youtube, a propaganda and rage bait farm.
I still have no idea why I got permanently banned. The interestingasfuck subreddit said I had multiple violations across accounts—something vague about participating in the Trump subreddit. Apparently, if you so much as post in that subreddit—whether you’re agreeing with them or talking shit to the MAGAts—then go back to interestingasfuck or any other sub with the same rules, they’ll permaban your account. And not just that one—they’ll ban any new accounts you try to make too. So honestly… I guess I DO know why I was banned, but compared to the vitriol I’ve seen on there, mine was not warranted. I’ve even appealed. Fucking hate Reddit now. Cowards.
I don’t care about being banned and I never read replies or check my inbox because it’s the internet and I don’t care.
You were banned because you were obviously a person.
Have you seen the comments lately? Most of it looks like AI bots are replying to AI, upvoted by other AI bots.
You got me really curious so I prompted ChatGPT to give me a redditor style comment that’s anti-Trump followed by another far-left redditor’s reply to it and this is what it gave me:
Original Comment (Left-Leaning Anti-Trump Perspective):
“It’s honestly mind-blowing how Trump still has a cult following after everything. The man was impeached twice, incited an insurrection, and openly grifts his supporters with fake fundraising schemes. And yet, somehow, people still think he’s their ‘savior.’ The cognitive dissonance is off the charts.”
Far-Left Redditor Response:
“Because the system is fundamentally broken. Liberals act like voting blue is enough when the entire establishment—from corporate Dems to the GOP—is complicit in maintaining capitalism’s stranglehold. Trump is just a symptom of the rot. The real solution isn’t ‘vote harder’; it’s dismantling the system that enabled him in the first place.”
^ – this seems to be disturbingly accurate, I can only imagine this being produced at automated scale at this point.
Apparently all you have to do to get banned from Reddit these days is to hope Musk’s penis implant explodes and burns him to death from the dick up. Worked for me!
Yep, someone in another sub once said “I hope your plant dies” and their whole account was permbanned for “inciting violence”. Against a plant. Hysterical. That site is cooked.
I get banned once for saying I wanted to see justice done. “Inciting violence.”
Same with offmychest. Banning people like that is also against reddit tos but reddit couldn’t give less of a shit.
lol
Its a really weird place during elections, they’ve basically banned anyone with the opposing view on enough issues that its a full blown echo chamber. People then go crazy during elections trying to get their guy to win and the echo chamber grows exponentially.
Plunge baby, plunge.
Reddit is not coming back. I know when a site is dead
God I hope you’re right. Nazi Spez and his chud admins are gonna be shitting bricks when they realize elon isn’t bailing them out.
Elon just sold Twitter to xAI for 33B, Reddit bastards can probably do similar. Some dumbfuck at Google or Microsoft will probably buy it.
xAI is Elon’s AI company. I don’t think the value at which he is willing to sell his one company to his other company applies much to anything outside of Musk’s companies.
In fact him selling it to himself shows the price is probably inflated
Link to this? There hasn’t been anything in the news about such a sale.
https://www.bbc.com/news/articles/ceqjq11202ro
Other shit has been bigger news.
Thanks, I’ll give it a read.
plenty of news about it. but it is just elon giving his company to another company. Like facebook to meta or google to alphabet.
The funniest thing about it is, he valued twitter at 3/4th of what he bought it for.
We said the same thing about Facebook 15 years ago. Look at them now. Still twitching proudly with the vigour of youth while their teeth are falling out and their flesh is rotting.
Yep it’s been slowly declining for years. There’s no coming back from what a shithole it now is
Bye bye…officially deleted my reddit account. Enough interaction on here I can 100% make the plunge now. Sad because I have been there so long. But I rememeber when digg died, and its time to move on.
I was there for diggs death. I was a young college student.
I held off on Reddit and enjoyed a lack of that style of addiction for like 2 years. Then slowly reddit consumed me.
I haven’t been back for anything but porn since the API-pocalypse.
How’s Lemmy porn so far? I keep this account SFW
It’s getting better. Not nearly as much content but also not nearly as much only fans click bait.
So it’s ok, but reddits quantity has Lemmy’s quality beaten.
“Run, motherfucker, run”
-snoop dogg
Burn baby burn, disco inferno
Short the dip .
Tends to happen when you ban all of your users
He listens to swatsticars guy why would any care any more
deleted by creator
Spez fundamentally misunderstands what Reddit is and who it belongs to: the people making the posts and providing the content. The more he alienates the users, the less value Reddit will have. He’s shot himself in the foot and he’s getting ready to fire again.
Oh he does, he just doesn’t care.
The line goes up, then you sell out to some anticompetitive behemoth to eat before it implodes. That’s how it works.
Good, Reddit treats its users like preschoolers. If you say something even slightly against their rules, they ban you.
Just like Lemmy admins do!
It’s not just the AI bubble, it’s a distinct lack of faith in Huffman and as a CEO. He’s not forward-thinking enough, he hasn’t understood where the company’s value lies, and he’s ridiculously distracted by the latest shiny tech things (reddit NFT avatars, reddit crypto, reddit AI).
I fully expect Google to buy reddit at some point, exclusively harvesting all the info for their search engine, all the content for their AI models, and all the submission/view/voting data for their user profiles (what are you interested in, what do you think of these concepts, where are you connecting from, here are more ads we can send you, and these are arguments that might sway you in purchasing or other decisions).
If Google weren’t under antitrust pressure, I think that would have already happened.
In many ways, a Google owner would probably make Reddit better for a while. Google cares a lot more about the data people are generating than making the site itself profitable. They could afford to run it at a loss for years, whereas Reddit investors want to ensure they make money soon.
But, I’m glad it might not happen. Then again, who knows what will happen to Google and antitrust in the Trump admin, where bribery is now perfectly legal.
Lets take a platform driven by community participation and ostracize community users. Yeah that’ll work out well.
Reddit getting Digged and me likey.
That is a deep cut reference. They are relaunching as an AI play.
That will bring back the people who were providing the free content.
(/s on the last part)
Seriously. I remember Digg. My life’s social media path has been slashdot->digg->reddit->lemmy.
I was there! I saw it all! <shakes cane>
Yep the train from being offered early access to their IPO as a “power user” to a permanent account ban did not take long.
So here I am
They are counting on the dark internet theory to keep up the appearance of engagement.
Fuck them.
yep they will, it’ll be grok running 99% of twitter and 95% of reddit in the next 5 years. (and those numbers are probably already near there)
Everyone with half a brain knows that enshitification and pandering to CEObro echo chambers result in the platform losing large amounts of users or even dying.
