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.
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.
And this right here is why I laughed my ass off when they were doing their IPO and offered me an early buy-in. The company has never made a profit to my knowledge, why on earth would I imagine its value would go up?
There is no growth potential at all. They regularly bleed large numbers of users with their rando-bans, and the new user experience is so terrible that there is no reason any new person would ever want to use it.
Yup. What’s left of their user-base is cranky, well-entrenched against their bullshit, and not afraid to show it. See: the APIpocalypse, etc. I would bet they lost millions of users over that, and now they’re alienating tens or hundreds of thousands more. They have a pretty shit business model which largely relies on enshittification.
This time, they overdid it. Since Nov 5th there were at least 3 ban waves by Feb 13th. The same time I got banned, now we are in the 5th to 6th ban wave right now. This way more than normal. Most of them culled OF, and advertisers, for good measure to look fairz they ban the legitimate problem Bots too.
It’s continued to get worse since I left a couple weeks ago? I’m shocked. Shocked, I say!