You must log in or # to comment.
I’m more shocked some people thought it was worth 260 a share. Sweet Jesus that’s stupid.
That’s like 80% of the stock market right now, so get ready for one hell of a crash when reality comes knocking.
I’m broke. Can’t wait for everyone else to get fucked too.
I want to let you know, I clicked on the top left X button in the picture. :|
Haha I love you for sharing that
That’s when they perma banned me, your welcome
Carrying the feed 💪
Russia gets its biggest refinery blown up, Reddit stock tanks, I did some coke, this has been a great Halloween.
Can I donate my old account to some bots?
I randomized and deleted all my previous comments and posts with a paid app. Boy did the mods and automods HATE that. The gall they had to call it spam, when it literally just says this comment has been randomized and deleted. And it was 13 or 14 years of thoughtful contributions. Like Reddit owns my contributions. I’m autobanned from most of the major subs for redacting all my content.
The worst social media site… in the wooooorld.
Jean-Ralphio!
There’s only 1 solution: Persona
Also google Play Integrity API, shutting down old.reddit.com for some reason and blocking all browsers except Chrome and Safari. Also retinal scans for new accounts, karma farming bots only allowed for old accounts with stolen credentials, and blocking anyone who refers to war crimes against Palestinians as genocide.
Also, a new helpful AI assistant called Reddy that replaces interacting with other users and recommends products and collects user data.
googles is in cahoots with reddit, if they want that data, they expect reddit to keep producing new AI-scrapable content.
Add a verified badge on your regurgitated content farm bot account for just $5.99 a month.
wait till ukraine knocks another Russian data center that stock gonna do another 50% off
Reddit has such a good thing going for it when they posted the little gold vs server costs progress bar daily.
It had a great incentive loop “you like the site, site is underfunded, want to donate a bit”?
Ellen Pao has the beginning of the end for reedit. Ok when Aaron died was the tipping point, but Ellen was brought in to do the dirt work to keep spez looking good… And it didn’t work, spez sucks
To expand a bit: Aaron was a tireless activist who was harassed to death by the DoJ for doing a tiny fraction of what the broligarchs get away with every day. Carmen M. Ortiz, who pushed the relentless attack against Aaron, is an unrepentant monster.
They were losing money the whole time doing that. The plan was always to go public and start profiting then.
I don’t really buy that.
Firstly, mastodon and Lemmy run for free. I know servers accept donations, but it’s viable at a relatively small price.
They started aggressively hiring around 2016 or so, they took on VC, and they needed to unload, and that’s when they started going to shit.
I wouldn’t compare lemmy. My god the shitloads of problems I have browsing here! It’s literally most buggy site I know of. Maybe it works fine on a phone, but if it can’t work well in a simple browser, it’s broken.
When have you every heard someone Reddit wasn’t the buggiest site they know of?
Agree Lemmy mobile site is bad, they random with some bad ideas.
Reddit’s smooth as glass compared to lemmy. I have to browse by hiding each post then refreshing the front page (and I can’t tell if I hide the post or not so I’m double checking all the time). “Next” doesn’t work, “next” doesn’t work on replies made to me, old.lemmy is completely broken, much more. Maybe it’s different for different servers, but if .world, one of the largest, is such a clusterfuck, I can’t imagine what smaller servers are like.
I’m an old IT tech, got the patience of Buddha for tech bullshit, but most people wouldn’t hang here two minutes. And if they do, they’ll see all the animal and lolita porn every 4th post (“furry” and “anime”). I would never tell someone I’m on here.
Tbh i have 0 problems and i also never see porn (I did not block any instance or community)
Also, bigger does not mean better
Even a relatively small loss is still a loss.
Ah yes, just operate at a loss until you somehow turn a profit. Brilliant!
It is a sound strategy for companies that need to reach a certain size to be viable, pretty much every mass-consumer tech company does it/did it.
There’s one tiny detail that you need a viable plan to actually turn a profit.
And reddit did turn a profit, for the first time ever, shortly after going public.
And how long did that last?
They are still highly profitable, although yeah I agree their long term prospects are dimming.
It is a sound strategy in the current market climate, for sure. It shouldn’t be, but we’ve allowed markets to consolidate to the point where they often have few enough players to count on your fingers, so it is.
Yes, that’s how it works for every start up, even a lemonade stand. YouTube bled money for what? A decade? The payback was taking over the internet video space. Now they profit.
Hmmm. Back in the 90s and early 00s, a PE of 20 would make a company worth a closer look by value investors. The only tech companies I’ve seen with such a low P/E were dinosaurs sticking to outdated technologies, close to shutting down (Earthl8nk, 3DO, etc). I should have a look at Reddit’s financial statements if I find the time.
Yeah… Unfortunately since Amazon a lot of investors don’t really care about PE ratios. Everyone thinks the company they are betting on is going to be the next billion dollar company to take off of an overextended runway. Hell Tesla is sitting near 450 pe ratio and retail and institutional investors don’t even blink.
P/E under 20 and PEG under was a surefire way to attract the attention of value investors. Don’t think there are many of them left…
Speaking of Amazon, I really missed the boat with that one. After the Internet crash of 2001, I looked at it, but due to the very low growth forecasts I didn’t bother. A few years later the stock was up 800%.
Yeah… If the post 08 economy has re-taught me anything about investing it’s that doing anything much more complicated than index funds is just gambling. I still play the market for fun, but it’s my equivalent of going to the casino and being pretty decent at cards.
Not much of the old school value investing really pans out more than watching where people are yoloing their money, getting in on the action, and then trying to tuck tail before everyone else.
They are still way up on their IPO but it will be interesting to see what happens in the upcoming months or years.
Almost 62% down YTD wowwie!!
It sucks to suck, Spez, you greedy pig boy.
