Reddit use to be a lot better once. I remember once upon a time when r/politics actually had posts that weren't 100% pro-Neocon 24/7 -- that was when the BernieBros were posting everything. Then the Clinton campaign caught on to the online communities. It's bizarre if you go there today all you get is 100% 24/7 pep rallies about how great Biden is doing. No mention of the polls showing he is slowly losing Progressive support. I remember even before the r/theDonald existed the Asperger brigade were making memes about Trump being emperor king of the US. The alt right had a lot of subreddits but they were pretty dry polemics. The funniest stuff was the Pepe memes in 2015-2017. Those were hilarious. I still remember the day after the election and under r/meltdown there were people who posted the meltdowns from Twitter & Facebook. And then the endless "salt mining" photos from the election. r/WSB was really funny in 2022 with the NASDAQ stocks especially the crappy stocks that those members love YOLOing options on. I think the heyday of r/WSB was still around 2015-2016. The Powell deepfakes were really funny. I don't know who made them but they were pretty realistic. The funniest was the Powell meme of him saying "Fuck your Puts. Fuck your Calls."
@Baron For one they have dislike button for posts which actually encourages people to be nice and put out decent content. Most topics require new member to post in specific thread for some time until they earn enough upvotes (forexfactory have similar system)which actually help them out contribute and also filter out people who waste time. Their search function is better I think. I can type anyrhing and groups suggestions pops up with how many members are already in it! And they got contributor program. So those are some reasons I think reddit is cool. So when I say "uplift", I mean putting things in place that is uniquely ET, features that that highlight accountability or transparency in trading/performance (like wsb is popular because or gain/loss porn, or forexfactory trade explorer)
That's what they call that garbage. Upvotes?? I went there a while back and gave up after a few months. Everytime I posted it was deleted......
I got this today: "We’re offering a Directed Share Program (“DSP”) that invites eligible users and moderators who have contributed to Reddit to participate in our initial public offering (“IPO”). (Including you!)"
This was talked about last week in the news.....wonder how many shares you can buy. Probably a max of 17 shares...... Trying to hype up another social media stock that can't even pull a profit after 20 years.
Considering that Reddit hasn't earned one dollar in profit in 19 years, it boggles my mind why anyone, especially an institutional investor, would want to own one share of that company. I read through their SEC filing, and they spend $1.25 for every $1.00 they bring in. So... almost two decades in business and they have never generated a penny in profit, yet the executives are taking 10's of millions of dollars in compensation with no end in sight. Maybe it's just me, but it appears from my perspective that Reddit management is exceptional at one thing, and that's raising capital to fund their money-losing operations. And the fact they would even push their IPO shares (which will tank over time) on their most valuable community members is pretty f'd up in my opinion. This is a case study on how to set your company up for a massive implosion.
Pets.com I think they made more money off their sock puppets than with any product!! https://en.wikipedia.org/wiki/Pets.com
I have a conspiracy theory about Reddit, because I always wondered why they didn't even try to make money for the first decade of their existence? : I think they got money from the government because of social engineering and collecting data on their user base. I mean people share a ton of info about themselves that otherwise they wouldn't tell anyone. But they think they are anonymous. Personally I don't say anything what I wouldn't share with a stranger over a beer in a bar. Anyhow, venture capital is famous for backing unprofitable businesses in the hope of making it big one day. They do know that only 1 out of 10 pays really off.
https://www.cnbc.com/2024/03/01/reddit-seeking-a-valuation-of-up-to-6point5-billion-in-ipo.html Reddit is seeking a valuation of up to $6.5 billion for its upcoming IPO, according to a person familiar with the matter. The company filed to go public in February and plans to trade on the New York Stock Exchange under the ticker RDDT. When Reddit goes public, it will represent the first major tech IPO of the year and the first social media IPO since Pinterest’s Wall Street debut in 2019.