Reddit must now answer to its shareholders as well as its vocal users.
When did Reddit answer to any users?
Hey member that time AOL bought Warner Brothers. And everybody was all “wow these internet companies are here to stay!”
Lol
I finally offboarded r/modernart to lemmy.ml/c/modernism today in anticipation of the IPO launch. Already reddit heavily censors and recuperates anything radical. That’s only going to get much worse along with advertising and bots. I can’t see the website lasting in its current form and that’s already pathetic. Lemmy is poised to really take off as reddit ratfucks itself.
!modernism@lemmy.ml for the lazy.
They are pretty controversial for a lot of (well founded) reasons, but I think the main thing in this case is that they are very heavy handed in their moderation, an odd place to go when trying to avoid censors
Yeah when I first made my account back in June, i was under the impression that it didnt matter what community you made an account on. They all are linked together. Over time it seems like some groups dont like other groups and defederate from them. Lemmy.ml was one if the biggest groups at the time, so I joined it
@happybadger Create your own instance while you still can. If you’re interested in hosting large images pick mbin instead of Lemmy and I can help you bypass filesize restrictions
“while you still can”
That is ominous. Creating my own instance has been a “someday” project for me. Is there something to be worried about?
Ha! It’s already falling in price.
Can anyone remember what share price Reddit offered to “power users?”
IPO price, around $30, so it’s up 50%.
Normal IPO, you have to hold like 6 months then sell. It artificially increases scarcity and keeps price up.
The reddit users can sell right now though, and if enough do it at once, it can scare off new buyers and make those who already bought after IPO sell.
It could waterfall and leave the traditional IPO buyers who can’t sell get stuck holding the bag.
It was $34 I’m waiting for options to pop up so I can buy puts and make money on it dropping to $25 over the next 6 weeks.
*I got my puts bought today when share price was $51. I went for four months out on expiration. Wish me luck! Or come back in July and offer condolences.