I have been looking at Reddit for a couple of weeks and it is a toxic cesspool of brainless idiots posting stupid shit with advertisements interspersed that are easy to skip over. How do they manage to lose over 480 million dollars a year running a message board? I am not interested in shorting it since I realize people can maintain their stupidity longer than I can remain solvent but damn, this is pitiful.
My man can analyze Reddit in two weeks. He has a superpower. There is a rough estimate running around that 100K subreddits are currently running. With about 500 M users posting. And OP has read them all.
I have said tbe same thing...... That's what happens when the fed points unlimited amounts of cash, it just produces insane valuations on everything including reddit.
This plus passive investing. Billions of dollars being shoved into funds that go out and buy indexes regardless of where the valuation of some of the index components makes any sense.
The reason is it totally destroyed the forums on line where people would get information. Reddit has become a monopoly of that data. It's data is being used to feed AI models. I believe Google itself has a deal to access that data. If Discord ever goes public it will also explode higher since it as a ton of data on niche topics as well.
I think there would be more added value in RAG systems, each designed for a specific purpose. Therefore the value of RDDT -or other public sources - would be limited.