Sure feels like they timed this IPO pretty badly. I think the ideal time to strike on this would have been a few years ago... Based on market conditions anyway. Reddit itself may just not have had their ducks lined up enough, but that's their problem, not the stock market's.
Tech stocks trading sideways for the last year or two
The interest rate money printer got shut off and cash is not cheap anymore
Seemingly all the major new tech stock investment interest is circling around stuff like AI
Federated alternatives are slowly building steam and people seem to have gotten pretty salty about corporate social media
The pandemic is more or less over and people have pulled back from being chronically online somewhat (this is my guess, I don't have data to back it up)
Also what exactly is the monetization strategy? Ads I guess? More catering towards creating corporate "synergy" with the Reddit community? Selling user data/content? So basically making the place suck considerably worse for users is what it looks like to me.
My point is that corporations often see a fine as a cost of business because the fines are issued by a regulatory system that has no teeth.
If you’re in a lawsuit against another corporation they are going after damages in civil court and it’s likely to be a high enough fine to stop the behaviour.
Whatever already existed won’t be thrown away regardless of the ruling. It’s like throwing all the gold already dug up just because it was done by slave labor. The law and legal actions are mostly just a moat around the pile of gold already dug up. Sure AI companies will have to pay more for the new data from other sources. However that would be peanut compared to how much they will have to pay starting from zero.
Generally if someone is clearly in breach of copyright the rights holder will apply to a court to issue an injunction to order that company to cease their activities until a case can be resolved.
Given that has not happened, it seems that from a court’s perspective, it’s not a clear breach of copyright.
No they’ll train on laundered model output. Like every llama.
The investment thesis they the data is valuable is bonkers. It’s not. Not only has it been exfiltrated and can be laundered in a dozen ways, Reddit also won’t be able to effectively assert copyright.
Look at Facebook. It’s full of reposted quora content now with AI images and AI laundered text.
Federated alternatives are slowly building steam and people seem to have gotten pretty salty about corporate social media
I think you’re overselling the importance of this one. When I’ve talked to friends about federated alternatives, they really aren’t interested. Even if they hated Twitter/reddit and think they’ve gotten worse, they just don’t really care about a federated alternative. I’ve heard some interest in threads, so maybe we count that?
If they really understood the phrase ‘too many cooks spoil the soup’, then they’d realize the advantage of smaller online communities.
Reddit was at its best when it had a low count but engaged userbase, and became actively worse as it grew.
I think this is because trolling and response isn’t a 1 to 1 ratio. All it takes is 1 toxic person to make an entire subforum rancid and takes the effort of several mods to mitigate it.
The more people you have, the more chance you will have these trolls organize, the more likely they will either overwhelm or infiltrate the mods.
Yeah I tend to agree. I think all communities have a critical mass and past that point they go downhill.
I was just googling for the rat overpopulation experiment because I think it works as a great example of this and it turns out this whole concept has a term.
It happens naturally whenever the ingredients are brought together but in order to get a quality product you need ridiculous amounts of knowledge, process, and technology.
And even a tiny bit of the wrong bacteria can ruin an entire batch, but people will still drink it and go blind.
Regular people didn't know or care wtf reddit was for quite a while also and there absolutely is a building friction between people and corporate social media. We're in the early stages for now, but stuff like Activitypub is not going away.
Even my most alternative, vegan, communist friends agree with me when I pitch the fediverse and then flock to capitalist social media like moths anyway. It’s disheartening.
They already make money with ads. Killing third party apps was part of this, now they can control exactly how you see ads. It’s the same as any other social media now, they recommend you content, which is exactly not the point of reddit.
Sadly I’ve found a few of those on Lemmy already. What I’d prefer is the internet of the 1990s when it took effort to figure out and the masses were too lazy or dumb to do so.
I used to purposefully disable the error correction on my modem so the connection sound didn’t have that stupid hissy wobbly beepy part at the end. Yeah it meant that sometimes I’d fjhkswa thjasd ar eee e but it was worth it for that pure music.
Maybe we’re blessed for knowing it like none that came after, or cursed for knowing it will never be that good again…
If you mean that an entitled douchecanoe who has no trouble allowing genocides to occur on his service getting stupid rich, then they did win. If you are looking at how much they could have gotten, then, yeah, they suck.
I still wouldn’t use it, but Elon should buy it so he can more convincingly posture a saviour of independent social media. Just drop the tracking, sell square ads on the sidebar based on content only, open up api for all sorts of uses and make rif is ridiculous fun for reddit the official client. Give it to five geeks to maintain and call it a public service. What’s a bit more down the drain? It’s all gonna go Midas anyways. At least that would be a win for the internets
Short selling, Wallstreet thing for making money when the stock. It kinda works like borrowing a stock and immediately selling it, then we it’s time to return the stock you borrowed you buy a replacement and if the price has gone down you keep the profit.
shorting means to bet against a stock. instead of buying a stock and waiting for it to grow over a long period and selling it for more money (long position), you borrow the stock from somebody, sell it, then buy it back (for a lower price) after a short amount of time to give back to whom you borrowed it from. (short position). If the stock price rapidly drops in that time, you gain money.
If this sounds like a perversion of what investing was supposed to be, yeah welcome to wall street
Politics and whatever the other maladies are that infect Reddit aside: the app and the website are impossibly difficult to use. Ita just ads ads ads. Even if the place was a veritable utopia that’s a no from me dawg.