Reddit must now answer to its shareholders as well as its vocal users.

Reddit must now answer to its shareholders as well as its vocal users.

  • OptionalEnglish
    40•2 months ago

    Hey member that time AOL bought Warner Brothers. And everybody was all “wow these internet companies are here to stay!”

    Lol

  • happybadger [he/him]English
    35•2 months ago

    I finally offboarded r/modernart to lemmy.ml/c/modernism today in anticipation of the IPO launch. Already reddit heavily censors and recuperates anything radical. That’s only going to get much worse along with advertising and bots. I can’t see the website lasting in its current form and that’s already pathetic. Lemmy is poised to really take off as reddit ratfucks itself.

        • ferretEnglish
          13•2 months ago

          They are pretty controversial for a lot of (well founded) reasons, but I think the main thing in this case is that they are very heavy handed in their moderation, an odd place to go when trying to avoid censors

        • ThrowawayEnglish
          9•2 months ago

          They’re tankies. As in, supports the CCP kind of tankies.

          • Alto
            10•2 months ago

            More specifically, “Tiananmen Square didn’t happen and if it did it’s good” kind of tankies.

        • @[email protected]English
          5•2 months ago

          Yeah when I first made my account back in June, i was under the impression that it didnt matter what community you made an account on. They all are linked together. Over time it seems like some groups dont like other groups and defederate from them. Lemmy.ml was one if the biggest groups at the time, so I joined it

      • TheVillageGuy
        2•2 months ago

        @happybadger Create your own instance while you still can. If you’re interested in hosting large images pick mbin instead of Lemmy and I can help you bypass filesize restrictions

        • @laranisEnglish
          2•2 months ago

          “while you still can”

          That is ominous. Creating my own instance has been a “someday” project for me. Is there something to be worried about?

          • TheVillageGuy
            2•2 months ago

            If you want to be your own community’s host, you’ll also want to start your own community on your instance. The longer you wait, the more users will have to move from the current to the new community. We started ours on an existing server (and it still exists) but we realized early that it would not give us enough control over the posted content (specifically filesize limitations) So we quickly started our own instance.

        • ferretEnglish
          2•2 months ago

          Ignoring lemmy.ml specific reasons, using a federated platform just to join the largest host is very very silly.

    • @[email protected]English
      1•2 months ago

      i doubt it matters since huffman already got his money.

      i wonder if any moderators regret making him rich at the expense of their own time and effort; with nothing to show for it

  • LizEnglish
    12•2 months ago

    Can anyone remember what share price Reddit offered to “power users?”

    • @[email protected]English
      27•2 months ago

      IPO price, around $30, so it’s up 50%.

      Normal IPO, you have to hold like 6 months then sell. It artificially increases scarcity and keeps price up.

      The reddit users can sell right now though, and if enough do it at once, it can scare off new buyers and make those who already bought after IPO sell.

      It could waterfall and leave the traditional IPO buyers who can’t sell get stuck holding the bag.

    • @[email protected]English
      3•2 months ago

      It was $34 I’m waiting for options to pop up so I can buy puts and make money on it dropping to $25 over the next 6 weeks.

      *I got my puts bought today when share price was $51. I went for four months out on expiration. Wish me luck! Or come back in July and offer condolences.