- cross-posted to:
- technology@lemmy.zip
- cross-posted to:
- technology@lemmy.zip
The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure.
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The value of Reddit is the content which it is able to create. If users aren’t free to create content, there is not value.
Fuck Reddit.
Daily reminder that Reddit automatically gathers your data.
If you still have a Reddit account, change your privacy settings right now :
Reddit is kinda dead it now
Good. I got banned just today for “inciting violence” then when I asked what I did they couldn’t tell me. Musk pressuring spez into harsher moderation is probably part of why I was actually banned. I followed every rule but was active in left wing communities and it seems that’s enough to be deplatformed under the trump regime.
I’m fairly certain they misled investors on their last earnings call. I noticed some banned accounts suddenly had their ban lifted right before the call, and then reapplied right after.
On the last investor call, they said they had a lot of returning users. This was after their election ban hammers, and prior to the Luigi ban fest.
Can’t wait to see how they try to spin things on the next one.
Hey cool beans we’re the direct result of that! What good news!
I trust reddit as far as I can throw it these days.
One man’s slowing growth is another man’s hardening growth (me, from reading this headline).
I’m not sure why anyone would ever buy Reddit stock. There is no money to be made in Reddit. They failed to make any money before they went public, and they’re failing to make any money now.
They tried the whole NFT thing, failed. They’re trying to sell the data to AI companies but once that’s sold they can’t sell any more of it because the benefit of Reddit data was historical data unpolluted by AI, but new Reddit data is polluted by ChatGPT posts and is therefore worth less.
It’s not even about banning people, it’s about the fact that Reddit was never a sustainable business model from the start, at least not in the traditional capitalist sense where you’re actively trying to make a profit to please shareholders.
The only benefit to owning Reddit stock is if you have voting shares and can manipulate the algorithm to benefit you in some way. Suppress some voices, amplify others to back what you want to do etc. but you need money to burn in order to achieve that because you aren’t going to be making money directly by owning Reddit stock and manipulating public opinion takes time.
Everything they touch dies
I mean, with all the censoring and pandering to Musk, allowing for entire bot swarms to the point it really becomes obvious it’s happening - who could have predicted this?
That’s right, kids. Allying yourself with fascist tendencies in any way, shape or form will hurt you in the long run. Just provide the damn service people are looking for and stop playing god, trying to use your platform to shape opinions and censor statements you or your buddies don’t like.
They’ve banned all of the good people that made up the site. I used to do Secret Santa. For 10 years! And I had mothers thank me for making their kids holidays. And they banned me. Because I made a death joke about how old McConnell was. Dude looks like death walking. Prove me wrong.
I was a good user. Dark humor isn’t hurting anyone. Reddit will die. Just like every other popular site.
I wonder how long until they ban porn. That’ll kill it dead for sure.
Shouldn’t suprise anyone especially with the recent grovelling before Musk.
I’ve created this account here today particularly because I found that behaviour absolutely disgusting.
Gee, that’s too bad. It would be a real shame if that piece of human garbage Steve Huffman lost everything. A crying shame.
Sadly I’m sure he already has a golden parachute prepared.
They all cashed out after the IPO. They’re probably laughing at the bag holders right now.
There may still be lawsuits, however. There are still many ways that he could lose a lot of what he gained.
🤞
I think you mean presidential pardons
i remember spez and his c-suites dumped the stock a while ago.
He’ll cry his way to a trophy home and yacht
I can’t even think of a time in history where someone was a huge piece of shit in America and “lost everything.” Maybe R Kelley, P Diddy, and Bill Cosby? But only for the time they spent in whatever rich guy jail they got to go to and then they were fine.
Elizabeth Holmes comes to mind. She manoeuvred herself into a position of wealth and power by defrauding other rich people and got herself 11 years in prison for it. That’s 11 years more than most other rich scumbags get.
And that just goes to show:
The only time rich people are held accountable in the US, is when they fuck with other rich people’s money.
The most bizarre part of the Theranos scandal is that any medical lab tech/scientist could have told you, right from the initial pitch, the entire thing was a massive scam. There was literally no reason to ever think this technology was feasible and a mountain of reasons it wasn’t.
Elizabeth Holmes only got in trouble for lying to people who should’ve done their “due diligence”
The patients / families of the patients that Theranos lied to and mislead never got justice.
i read an article when the theranos sht has been going down, around 2016, look how long it took to charge her. a patient hormone level was higher than normal indicating some form of malignancy, she took chemo only to find out she dint have any. and another indicating her bizarre behaviours too.
Tech execs have absolutely massive egos.
her pitch was single droplet of blood to diagnosis diseases.
I’m aware. I’m also a medical lab scientist and the entire thing screamed bullshit from the start, not necessarily due to the feasibility of testing on small volumes, but things like calibration and quality control.
The worst of all this is that from the top of our heads we came up with a woman and three black dudes. Other than Madoff I don’t remember any white dude getting any deserved retribution other than the recent United Healthcare CEO.
But after that 11 years didn’t she come out of prison still rich?
She went into prison in 2023 so she will be there for a while yet.
I don’t think her wealth is known exactly but she and her company lost billions during the scandal.
She married a hotel heir, she’s still doing fine.
She was also just on the cover of People or some other such supermarket cash register rag.
I mean she stole from rich people so I hope she’s doing good
and not the patients live she ruined, even caused harm to, in one article a patients certain hormones was extremely high , indicative of type of reproductive cancer.
Madoff died in a jail cell, that’s gotta count for something.
Yeah that’s cool and good. Same with Epstein.
Except he didn’t live long enough to rat anyone out. That’s the only downside to that story.
He was 100000% assassinated
ghislaine is still alive, she isnt talking though.
I shit, I didn’t know Madoff died
There is also something about those 3 people I can’t put my finger on….
lol that was my immediate thought too. But I didn’t want to bring it up because even with the racist implications those guys all definitely suck and should be in prison.
I don’t know if Sam Bankman-Fried is a huge piece of shit. He’s definitely a liar and a scammer though. But he was like rich as anything and then lost it all. Now he’s trying to curry favour with Trump to get out of jail.
If anyone is trying to gain favor from trump that’s enough to tell me about their character.
Also, yes sbf is a huge piece of shit.
Ewww
Lets keep this about Rampart.
Heve Stuffman
Greedy pigboy flew too close to the sun.
I too want to board the schadenfreude train. Choo choo. Fuck u/spez
Would he not have already sold most when they went public?
He will exit filthy rich way before that. That’s the point.
