If AI companies use Reddit data it will be useless. Whomever coined the phrase " There is no such thing as a stupid question" obviously did not have access to Reddit.
I love Reddit! It's funny and some contribution has value. 34bn... I don't know. But Meta/fb and x/twitter gave me the same "I don't know..." vibe about valuation
This was never the case back 40 50 60 yrs ago. Today that's what it is.. there is so many trillions of dollars just swishing back and forth into the markets that no matter what the valuations they still proceed to buy.....they just rotate from sector to sector.. . And if they prop up 4 or 5 good names they can keep the rally going on forever and ever.
What if I told you that every single edge that I understood in trading comes from comments that I found in two subreddits: /r options /r futurestrading If you know where to look there's invaluable knowledge there. You just can't see it.
Traditionally money serves three purposes... a store of value, a means of exchange and a unit of account. When you're forced at gunpoint (by the IRS) to use intrinsically worthless government paper, the first purpose is largely negated. And, when you get your fill of exchanging it for frivolous consumer products (like 4K UHD porn) money degenerates into nothing but a unit of account. At that point you really start to consider the relative, not absolute, value of things. And so... when companies are trading in the trillions, 34 billion doesn't actually sound like all that much. Well, that's the way I see things at least. Therefore you never know, throwing a few $ at reddit might not be a bad idea. Even if you think it blows chunks it could be a better opportunity than the other 34 billion dollar companies. ¯\_(ツ)_/¯
Nikola, now bankrupt and soon liquidated, was once "worth" around $30 billion. Anyway from what I see reddit's expected valuation is $6.4 billion, not $34 b? But let's see what it is a year from now.
As an operator of a message board, I agree with you that the numbers are just ridiculous and mind boggling. The ability for that company to burn through cash is just insane. To my knowledge, I don't think they've ever netted a single penny in any year since they began operating.
Let us know (me particularly budeee, chum, old pay lol) if you decide to go public too. Ground floor oppo wink, wink say no more.
I already have my edge and don't need to sift through the hundreds of newby posts asking for an edge or some other guy's idea of an edge. Now I do admit there are some useful posts such as when I have a problem and a Reddit post shows up in the google search I will look at it.