Shorting the hell out of this one.
My bet is that their valuation is going to be ridiculous and the price will drop like a rock for at least 6 months to a year
The company, which generates its revenue primarily through advertising and also offers premium access for $5.99 per month, has yet to turn a profit
Ya, this seems like a bad investment. And the need to turn a profit will likely lead to a worse and worse user experience as Reddit tries to monetize them.
spez is using Musk’s Twitter business model. it’s sure to work— just not the way he hopes…
If they can’t make a profit now I’m not sure how they expect to get more and more profits every year / quarter for the investors to pocket.
Especially the worse the AI botting problem will become. Let us hope Lemmy will have good tools and a community to mitigate that.
Get ready for the next influx when the Reddit platform goes to shit even more.
Now I get to look all smug with my 7 month old account!
And this is why we’ve all been leaving.
They are about 2 years too late.
The rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually need to generate profit and not just show user growth to be attractive to investors.
The IPO will not go as spez dreamed for so long.
Wouldn’t it be funny if there was another blackout, a day or two before the IPO?
Sadly, all of the admins with any balls (metaphorically) have long since quit the platform. All that’s left there are spineless brown-nosers.
I moderated a very small local county subreddit. It was a ghost town behind another larger county subreddit so when the blackout occurred, I just went dark. Received the same threatening dm everyone else received, then eventually removed as moderator. I suspect I have since been shadowbanned. I can’t prove it, but replies to comments made are late now and after the conversation has moved on. Vote count also sits at one for 24 hours or so. Again, pure speculation. But something is weird and reddit has definitely changed in the last year. Coinsiding with this change, the user base has become significantly younger very quickly.
… And so it begins…
This is it then. The IPO will push them into more money making ideas this pushing more users away and into the fediverse
Good job on them cratering their value before that launch.
