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.
I think Twitter did finally make some profit before Muskrat takeover, I remember reading a headline that it was finally profitable after 10 years or something
1M chart doesn’t show anything. We can see that the decline started on 7th Feb, together with US stock market in general. It has nothing to do with “Reddit siding with Musk”.
It does when you compare it to the market average.
You can’t make any decisions across one month only.
You can make comparisons, all boats are sinking, but a few of them are tied together, and one of the captains has a corkscrew.
You guys are still using reddit?
Lots of local discussion groups that simply don’t exist on lemmy. I’ve tried getting them to move too.
No good drug sub here either
Trying to get drug ppl to change habits, am I right? 😏😂
Reddit seems like the worst company to invest in. The only thing they have of value is content created by other people in the past.
It’s not like the other social media platforms where people get trapped there for various reasons. Companies stay on Twitter, for instance, because they have followers and marketing that depends on it. I stay on instagram cause my wife and kids share things as well as organizations.
There was nothing keeping me on Reddit outside of the content. I don’t need to be on Reddit to get that content. And enough people have left Reddit and started building that content on Lemmy.
Not if used as a propaganda tool, much like rmFB, YouTube,etc
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.
I just got a 3 day ban for saying that it’s everyone’s civic duty to doxx anyone they know involved in this current administration’s nazi bullshit.
I still stand by that, and as soon as the ban clears I’m going to be wiping my account and closing it for good. Fuck that place.
Doxxing is against ToS and also just, straight up illegal lawfully in most places around the world, and wouldn’t be acceptable even on Lemmy. So I don’t really see that as an unreasonable ban, even if you had a good reason to say it.
Meh, fuck em
