58 points
Fidelity has been dropping the valuation of its stake in reddit, and that’s only as of May 31st. We don’t know yet how the value will respond to all this drama, but I suspect it will go down more.
The IPO might not fail, but they probably won’t get what they wanted out of it.
Unfortunately this probably means that the platform will sell to people who expect to get use out of it for direct public influence of some kind (marketing/politics).
16 points
11 points
