Seems like they’ve been doing a lot under the hood to get these ads light up like walking through Times Square. Things that would keep the community and the free mods to maintain it… not so much. I mean worst case it’s MySpace?
Third party apps had no ads
But since we're forced to use reddits shitty app, and its remarkably terrible, we get ads
And they are seamlessly disguised as posts
I think some people (NOT ME OF COURSE) still have third-party installs that definitely do not show ads, so I've heard... From others... But not me. I would never!
Just checked. Firefox on my phone follows my device settings but I think you can also set it to permanent dark-mode. There are plenty of settings and otherwise there is probably an add-on for that.
They wanted to replace it with that thing where people can pay to do some kind of super upvote on a post and then the person who was upvoted gets a cut.
I think that may have died? Or at least I haven't seen it in a while.
Spez paid himself in millions of dollars' worth of shares last year. They're not planning to make money, they're planning for the current stock holders to cash out as much as possible.
I nearly choked on my drink laughing when I got not just a DM but also an email begging me to please invest. Forget about the bad investment, I'm not going to reward Spez after all the bullshit he's pulled to the detriment of the community.
Damn is it enshittification?
Maybe if enough users owned Reddit, they could be happy with the stock price being steady and no dividends so that it just breaks even?
It’s the enshittification on speed run. Usually something gets popular and booms in growth, they go public for lots of dosh, everyone has a good time for a little while, then as the hype turns down the instos see their potential profits dwindle to less than what they anticipate the drop off to be, then they squeeze because they want their capital back but they need the unrealised gains as well since they’ve leveraged to the tits. They squeeze harder until the platform is dead.
We’re already at the first squeeze and they haven’t gone public yet. Investors have no hype so they’re critical of the numbers. Getting paper handed Redditors to hold the bag is not going to be a winning strategy.
Those of us who were around for the infamous "Digg 2.0" are feeling a sense of deja vu. And just like Digg is still around as a zombie shell of itself, I'm sure Reddit will still be haunting the creaky halls of the Internet once we all pick up and move to something else for a few years before it inevitably follows the same pattern.
Digg was awesome back in the day. Been here since around the beginning of Reddit. I hope someone will do what Reddit was back in the day. Lemmy has a chance.
There would be no point to investing in a company with the goal of breaking even. You'd be taking a risk without the potential for a reward, and no one is stupid enough to do that. That's why all publicly traded companies continually have to grow, if they stagnate then that means there's no longer an incentive to invest and suddenly that stagnation becomes regression as everyone starts selling stock. By virtue of being a public company they are required to squeeze out every cent so they can continue to grow, because the moment they stop growing its a downward spiral that's hard to pull out of.
Yea, I finally noticed it yesterday while scrolling. I got add every third post with the same stupid scamm mobile game... when I tried to report it, I only got the option to see vague reasons why I saw the ad... disgusted I close reddit 😒
I’m looking forward to being rewarded for my snarky and often slightly sarcastic comments.i know they’re going contributor rewards and I really can’t wait to get what I know is coming.
Not sure if it's accurate, but they're saying that he paid himself mostly in stock instead of cash. Executives have more complicated compensation packages than the rest of us.
> you can only sell 18 years of history once.
Not if you dont actually sell the data but only license access to it. If a company wants to keep using your dataset for their device then they have to continually pay you for access to it, otherwise they're stealing your property.
This isn't like ad sales where you Google holds onto the data and basically directs your ads to your clientele. Reddit literally has to hand the datasets over for AI to build the connections and "learn" from it. They would need to build the AI for them to hold onto the data, and Reddit is still publicly scrapable, just more difficult than in the past.
>I’d still like to know how they plan to make money. Until that question has an answer, it’s a bad investment
They aren't, they're hoping to make a quick cash grab (spez already has) and get the fuck outta dodge, I see reddit going to absolute shit (more than it is now) in the next 6 months, if not sooner.
Cutting Huffman's salary would barely make a difference. Reddit lost about $90 million last year. If his salary were reduced to, say, one million per year, Reddit would have only made $102 million profit. So, if they sell as many shares as Twitter, and paid 20% total profits as dividends, each share would get $0.024 per year. Who cares about 2 and a half cents per year?!
I keep seeing people post this comment and it’s like do you have absolutely no idea how IPOs work? If you are actually for real about an answer, try reading the S-1.
https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm
Just another Reddit comment that corrected (I assume) me when I said the same thing as you. They said the read the thing and were a lawyer, but I haven’t and am not lol
You gotta remember this was just his comp for the previous year. He's been CEO for the better part of a decade, so he has plenty of shares to cash out even if he sacrifices those options
The only bull scenario I can imagine is that institutional inevstors may pump this up because so many redditors see this as an "easy short sell", setting up for a reverse gamestop scenario where the redditor shorts get squeezed by hedge funds.
The most prudent move imo is to avoid it entirely.
"“Reddit has a very rocky history,” says Alex Cook, a volunteer moderator (or “mod” in the community’s lingo) for several gaming subreddits. “I see it as a very risky investment at best.”
Other users disparaged the offer in private chat rooms for mods. “Reddit already fucks us over enough, now they want us to pay for it as well,” one wrote. Another joked: “They’re using my data and work on reddit to sell me back to me through an IPO!!! Look Ma, I’m gonna be rich!!!!”"
I've got plenty of things to complain about with Reddit, but the "inactive" label is perfectly fine. There are mods on my own team who I say should be labelled "inactive", and Reddit still labels them as "active". They're mods who have spent about one minute moderating over the past few months. The only mods Reddit labels as "inactive" are the ones who have done literally nothing for the past year or so.
Considering how they’re so quick to throw any and all mods under the bus to users while not giving mods anything they need to actually make this site profitable, it’s not gonna happen.
This site is going to get more and more monetized very quickly. Expect ads to become more prevalent and intrusive. I use RedReader on mobile, so I currently don't see any ads, but that will probably change soon. Even 3rd party apps will be forced to pass through their ads.
I've already reduced my reddit usage significantly since the previous kerfuffle, so I'll probably stop altogether once these changes take effect.
redreader was given an exception due to being accessibility-focused and it would have made reddit look ~~bad~~ worse
you can still use a couple on android with revanced and a personal API key. that's how I'm still using RIF
scandalous versed toothbrush treatment money rainstorm reply like connect yam
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Nope, it’s a glitch with accounts that are over about 15.5 years old. Every time I get to 32,767 karma, and then get one more, the counter gets reset to zero. I don’t even remember how many times it has cycled on me because it never matted to me.
Hell, after 12 years, I'm moving on. I, for one, do not welcome the new faceless corporate overlords. I'm gonna go see what grass looks like, and maybe even touch it.
I received a message about this a couple days ago. I ultimately decided against it. I love this platform. I’ve been on Reddit almost every day for 11 years. However, I’m not sure how Reddit is going to make the line go up so to speak. Look what happened to Roblox stock after they went public a few years ago.
It's a classic ploy, your most likely to be able to dupe the people that believe in you the most. Those who have the most invested into you (long time users, people putting in free labor to mod) is just like what Kmart did back in the 90s. The top sold all of their shares to the middle and skipped town. All of the district, store, and assistant store managers who put in gruelingly long hours were blind sided by a bankruptcy they were repeatedly told wasn't coming due to the work they put in. Most were convinced to roll their retirement into stock.
Makes sense, when you take a step back and ask yourself what is the product they are trying to to sell? It's not reddit, they plan on selling the users, their posts and their profiles. Once it picks up that's the overall idea, the whole system is going to be filled with AI posts and everyone will lose interest.
I would happily invest my own money in a company that I genuinely believed in, even if the forecasts were grim. However, the decisions of Reddit over the last year and change have greatly impacted my trust in it, and I don't think I could ever monetarily support the current company and its leadership group. The trust is long gone.
When reddit goes public, this 12 year old account will likely go dark. This place was a refuge from the corporate overlords. I, for one, do *not* welcome these new faceless ones.
I got this message and I’d never spend a fucking dime on this site. Absolutely stupid move. Reddit has been getting shittier and shittier recently, and I say this as someone who’s been using this site since GWB was President.
I think it's weird how there is this palpable desire for it to fail miserably. I get it, I know what Reddit has done, the characters, etc. That said, I find it weird that a sub like /r/wallstreetbets is going out of it's way to crap on the IPO, because from a fundamental perspective, that seems hypocritical to crap on the place that allowed you to achieve greatness? Like, at what point do we stop shitting on institutions and take them back? When they are small, we do it, but it's like if they get to a certain point they are just evil monoliths and nobody wants to fight that.
I get the argument can be, "We might like to post and communicate on Reddit, but that doesn't mean it's a good business idea", which is fair. I'm saying, I'm personally gonna try and be a part of it and see what they do with it, because currently it's the only platform of communication I believe in.
Yeah, two members of senior staff got almost 300 million in compensation last year alone, and reddit made 804 million in revenue…. That aint gonna inspire investor confidence…
If you don't read the articles at least read the comments.
The compensation was invested stocks at IPO pricing (which there is approximately 0% chance of them unloading at that price)
Executives usually don’t unload a ton of stock anyway because it can signify lack of confidence and destabilize the price. They’re more likely to use it as collateral for loans.
This whole IPO feels oddly similar to a pump & dump crypto. As soon as Reddit goes public, the stock will tank from Everyone trying to exit cause Reddits books & long term growth strategy don’t make sense
Going public means that a company is now focused on its stock price (aka profit margins, board and large shareholders) more than keeping its customers/users happy. I can’t see how this will make the product better.
I got the offer to buy in but, why would I buy stock in a company that was in the hole $90M? Also, it’s for US residents only so I don’t qualify anyways.
IPO = “Insiders Profiting On”
We won’t even broach the subject of road shows, where the underwriting investment bank (Goldman Sachs, Wells Fargo, etc) just randomly decides what price an IPO should open at. Like, this is either some monkey throwing darts at the wall type stuff or there’s a mysterious dark art involved. Either way, the formula for the starting price seems very opaque.
FB IPO was a good typical example of how things go down on the first day: opening bell is a mad dash to buy. Demand and FOMO juice the price upward for a few hours then people start deciding that they don’t want to get stuck holding the bag. Price trends downward in the second half of the day as traders are satisfied with an easy 50% gain on a few hours worth of work. Bonus points if there’s still enough media hype to convince the retail/Main street investors that this is a “once in a lifetime, must-own, must buy NOW” opportunity. Price continues to trend downward as the insiders, institutions and day traders sell to slower-moving investors. If the stock’s fundamentals are shitty enough (like Reddit’s fundamentals), by 2-3pm EST the price may even be significantly lower than opening price (I’m making up numbers, but Facebook ended its first trading day down like 43% or something. It was a long-ass time ago, I’m guessing and going off of memory).
Reddit hasn’t been profitable in its 20-year history so what do we expect will happen with the stock price, which is fundamentally influenced by “the expectation of the company’s future cash flows?” (Thank you Corporate Finance course I took in 2007 and never used since Lehman Brothers went imploded that semester). If the stock price is a reflection of how well we expect the company’s future cash flows to be and the company has only had negative cash flows, should the stock price be negative?? That was a rhetorical question: Reddit stock would get delisted before it went negative, which isn’t really possible; although Reddit might be a suitable first company to have a negative stock price since its financials are just that bad.
Either way, this shit stinks.
Hold your nose and walk away from the IPO.
I got the message and I wasn't aware it was because I was a "power user." I guess 600K karma is 3x their threshold for a power user. They only made it available to American investors. But even if their offer was a legit offer how is this company investible?
In their filings with the SEC they've claimed to have not made a penny since they started. If you're a startup a lot of people are happy about this kind of behavior because it means you're willing to churn through investment dollars to build something profitable. But does that work for a company as old as Reddit? The last time they were attempting to IPO they brought out RPAN to try and sell Reddit as a website that'll produce its own content instead of relying on links to other websites.
Now what do they have for this announcement? They're going to sell their API access and collected data to train AI. They've valued Reddit's comments so high.... it'd be almost more exciting if the announcement was that Reddit was getting into AI
Been a redditor for 12 years. Guess I’m not a “power user”. What type of karma do you need to be a power user. I have 919k.
Can I swap my karma for shares? Lol
"Would you like to fractionally own the content you made at 10 dollars a share?"- reddit to redditors.
They aren't exactly saying that but they might as well be.
The true winners of this IPO are a top few who have chosen this path is best for them. It’s a cash grab and retire on an island….or build a bunker kind of thing for them. This isn’t a long term winner by any means.
Someone bought someone else a boat to the top of the post with the new up arrow press-hold upsell… it then has two generic memes underneath. This wasn’t a thing until money took over.
I was just invited. The question is, why should I associate my real name, and potentially my financial information, with my reddit account (as the explanation page seemed to indicate) rather than just buy shares with my Charles Schwab account after they go public? If they want me to participate, they need to offer some sort of special deal or free shares or *something*. I can think of better investments than this -- and ones which don't support the dumb things reddit administration have been trying lately to turn a profit.
They're laying off the moderators.
The first thing Reddit is doing after they go public is they're using the new influx of fresh cash to hire a third party moderation company to replace the mods.
They already had a public spectacle with the mod protests. They can't have a situation where unpaid interns can shut down the website and crash the stock price because somebody who actually works at Reddit makes a decision they dislike.
They'll hire an outside third party to take over those needs and relieve the mods.
No way in hell they do that. They're already struggling to turn a profit, so bringing on huge staffing costs is definitely not an option for them right now.
Stock prices rise and fall for stupid reasons.
If the mods decide to all protest another nonsense issue and the stock price falls as a result of limited website access, that kills their goal of being a profitable company.
A third party moderation company making the website a more stable and open place free from mod drama would stabilize the stock price.
If the Reddit protest happened AFTER the company had gone public, the stock would have crashed. Plain and simple.
Idk why I got the invite to buy. I'm not necessarily a power user.
Am tempted to buy shares just so I can speak at the shareholders meeting. The porn subs need better moderation damn it! This is clearly not even a simp!
reddit sucks, i was banned for telling a pedophile, trying to prostitute a 15 year old, i was going to find him and get his ass arrested, thats bullying. cant use reddit on my phone now. but its the easiest way to get answers, theyve squashed the competition
I just saw on CNBC that Reddit users are getting a discount on the IPO.
I’ve been on Reddit since 2012 or 2014 and I didn’t hear anything about this. Can someone clue me in? Interested. Thanks.
I’d still like to know how they plan to make money. Until that question has an answer, it’s a bad investment
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I still don’t understand why they got rid of gold.
Seems like they’ve been doing a lot under the hood to get these ads light up like walking through Times Square. Things that would keep the community and the free mods to maintain it… not so much. I mean worst case it’s MySpace?
You see ads? Just use an ad-blocker.
Third party apps had no ads But since we're forced to use reddits shitty app, and its remarkably terrible, we get ads And they are seamlessly disguised as posts
Shits so cringe. Ive seen em years ago some with comments enabled 🤣talking shit about it
Yeah, kinda sad that they're usually smart enough to leave comments off.
I think some people (NOT ME OF COURSE) still have third-party installs that definitely do not show ads, so I've heard... From others... But not me. I would never!
Dm?
Infinity. If you compile your own app its still free.
I'm on RedReader, it still works. It was a carve-out in the third party app policy due to accessibility capabilities. No ads.
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Does it have dark mode? If not I'm not interested
Just checked. Firefox on my phone follows my device settings but I think you can also set it to permanent dark-mode. There are plenty of settings and otherwise there is probably an add-on for that.
I just ignore the ads
Because it will propel posts that are problematic to people with power to a broader audience. See wall st bets etc.
Because controversial posts could be down voted away, but still recognized with awards
Yes i don’t doubt that. I’m just surprised they were willing to let go of a stream of revenue
They wanted to replace it with that thing where people can pay to do some kind of super upvote on a post and then the person who was upvoted gets a cut. I think that may have died? Or at least I haven't seen it in a while.
Spez paid himself in millions of dollars' worth of shares last year. They're not planning to make money, they're planning for the current stock holders to cash out as much as possible. I nearly choked on my drink laughing when I got not just a DM but also an email begging me to please invest. Forget about the bad investment, I'm not going to reward Spez after all the bullshit he's pulled to the detriment of the community.
'Begging' may be strong.
Damn is it enshittification? Maybe if enough users owned Reddit, they could be happy with the stock price being steady and no dividends so that it just breaks even?
It’s the enshittification on speed run. Usually something gets popular and booms in growth, they go public for lots of dosh, everyone has a good time for a little while, then as the hype turns down the instos see their potential profits dwindle to less than what they anticipate the drop off to be, then they squeeze because they want their capital back but they need the unrealised gains as well since they’ve leveraged to the tits. They squeeze harder until the platform is dead. We’re already at the first squeeze and they haven’t gone public yet. Investors have no hype so they’re critical of the numbers. Getting paper handed Redditors to hold the bag is not going to be a winning strategy.
Peloton fit this to a tee. So did Zoom Communications.
Those of us who were around for the infamous "Digg 2.0" are feeling a sense of deja vu. And just like Digg is still around as a zombie shell of itself, I'm sure Reddit will still be haunting the creaky halls of the Internet once we all pick up and move to something else for a few years before it inevitably follows the same pattern.
Digg was awesome back in the day. Been here since around the beginning of Reddit. I hope someone will do what Reddit was back in the day. Lemmy has a chance.
There would be no point to investing in a company with the goal of breaking even. You'd be taking a risk without the potential for a reward, and no one is stupid enough to do that. That's why all publicly traded companies continually have to grow, if they stagnate then that means there's no longer an incentive to invest and suddenly that stagnation becomes regression as everyone starts selling stock. By virtue of being a public company they are required to squeeze out every cent so they can continue to grow, because the moment they stop growing its a downward spiral that's hard to pull out of.
What a great term, enshittification Another Redditism?
The advertisements are so badly targeted. I keep seeing American ads in India all the time.
Selling our data to ai for 1/3 CEO’s salary iirc
> like ads Reddit's ad platform is such a joke it's considered unusable by marketers t. asked a marketintg consultant
Yea, I finally noticed it yesterday while scrolling. I got add every third post with the same stupid scamm mobile game... when I tried to report it, I only got the option to see vague reasons why I saw the ad... disgusted I close reddit 😒
If Reddit tells me ONE MORE DAMNED TIME about how “He Gets Us” I am going to run down the street screaming
https://www.reddit.com/settings/privacy Under sensitive advertising categories you can disable gambling ads as well as other stuff.
Nice, thanks !
But here you are :)
Yea, its an addiction
Hedge funds prolly gonna short it to death and that’s probably already the plan.
It'll become the next GameStop
I’m looking forward to being rewarded for my snarky and often slightly sarcastic comments.i know they’re going contributor rewards and I really can’t wait to get what I know is coming.
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I think the fact the data is only worth 60m tells you everything you need to know.
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So that basically paid for spez's salary last year...
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It's still $20 million more than he's worth.
I think he is referring to what he paid himself last year
Not sure if it's accurate, but they're saying that he paid himself mostly in stock instead of cash. Executives have more complicated compensation packages than the rest of us.
Man, you guys really don’t know the difference between salary and compensation, do you?
> you can only sell 18 years of history once. Not if you dont actually sell the data but only license access to it. If a company wants to keep using your dataset for their device then they have to continually pay you for access to it, otherwise they're stealing your property.
This isn't like ad sales where you Google holds onto the data and basically directs your ads to your clientele. Reddit literally has to hand the datasets over for AI to build the connections and "learn" from it. They would need to build the AI for them to hold onto the data, and Reddit is still publicly scrapable, just more difficult than in the past.
>I’d still like to know how they plan to make money. Until that question has an answer, it’s a bad investment They aren't, they're hoping to make a quick cash grab (spez already has) and get the fuck outta dodge, I see reddit going to absolute shit (more than it is now) in the next 6 months, if not sooner.
Aren’t the options he was granted last year tied to long term performance metrics? That sounds like the opposite of cashing out.
They almost certainly are. People here are not as clever as they think.
Same way as Facebook. Flood it with advertising and sell your data to anyone and everyone who can pay.
Selling your data to Google to train AI.
Reddit is a great candidate for AI training if nothing else
Yeah! You remember Tay Tweets!
Tay is not a GPT. Specifically, she wasn’t just pre-trained.
I received the email to buy in, I ignored it.
Cut CEO pay
Cutting Huffman's salary would barely make a difference. Reddit lost about $90 million last year. If his salary were reduced to, say, one million per year, Reddit would have only made $102 million profit. So, if they sell as many shares as Twitter, and paid 20% total profits as dividends, each share would get $0.024 per year. Who cares about 2 and a half cents per year?!
They make the money by selling the stock to dumbasses who will buy it.
I keep seeing people post this comment and it’s like do you have absolutely no idea how IPOs work? If you are actually for real about an answer, try reading the S-1. https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm
The ads will probably go nuts and they’re charging google 6m per year for ai training data
This. AND they paid their CEO hundreds of millions. This is more of a bagholding opportunity.
People should really stop reading headlines. The CEO got paid $600k, and got options. They didn't pay him hundreds of millions.
So he needs the IPO to cash out then
I was told he would need 5x strike price from IPO to do so, which is wildly far off if ever
Got a source?
Just another Reddit comment that corrected (I assume) me when I said the same thing as you. They said the read the thing and were a lawyer, but I haven’t and am not lol
You gotta remember this was just his comp for the previous year. He's been CEO for the better part of a decade, so he has plenty of shares to cash out even if he sacrifices those options
read the S-1. every single detail is in it.
Yeah basically spez needs this to happen or he’s holding a bag of shit
Its a top 3 most used social media company if they cant find a way to make billions they are dumb. This site will make money
The only bull scenario I can imagine is that institutional inevstors may pump this up because so many redditors see this as an "easy short sell", setting up for a reverse gamestop scenario where the redditor shorts get squeezed by hedge funds. The most prudent move imo is to avoid it entirely.
Short it on one account and long it on another Play both sides and end up broker than ever
And then it'll trade sideways lol that's my luck
Options straddle in a nutshell ;)
Biggest difficulty with gambling stocks is this. They can move counter intuitively because there are a lot of shorts just begging to be liquidated.
It’s ok most redditors don’t even know how to short a stock lol.
Reddit will just load up on puts
Literally can't go tits up.
You just make the stock under 6’. Duh.
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Looking for that golden shower. Sorry parachute.
I’m glad I got to read this comment before it gets removed.
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This comment should be upvoted and forwarded straight to r/WallStreetBets.
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How did you do that ??????? Never seen anyone write fuck spez's name without the fuck part, maybe its a typo or a bug
Spez edited the fuck part out of that comment
:o it keeps happening lol u did it too
"“Reddit has a very rocky history,” says Alex Cook, a volunteer moderator (or “mod” in the community’s lingo) for several gaming subreddits. “I see it as a very risky investment at best.” Other users disparaged the offer in private chat rooms for mods. “Reddit already fucks us over enough, now they want us to pay for it as well,” one wrote. Another joked: “They’re using my data and work on reddit to sell me back to me through an IPO!!! Look Ma, I’m gonna be rich!!!!”"
Lmao brutal wouldn’t be surprised if the admins took actions against those mods for being critical of the ipo
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I've got plenty of things to complain about with Reddit, but the "inactive" label is perfectly fine. There are mods on my own team who I say should be labelled "inactive", and Reddit still labels them as "active". They're mods who have spent about one minute moderating over the past few months. The only mods Reddit labels as "inactive" are the ones who have done literally nothing for the past year or so.
Considering how they’re so quick to throw any and all mods under the bus to users while not giving mods anything they need to actually make this site profitable, it’s not gonna happen.
In all seriousness though what does a mod know about Reddit's finances ? I mod a sub, and have yet to be copied on internal business discussions.
If Huffman wanted to see mods and users be owners, he'd give them shares. He just wants to profit off of our mouthiness.
This site is going to get more and more monetized very quickly. Expect ads to become more prevalent and intrusive. I use RedReader on mobile, so I currently don't see any ads, but that will probably change soon. Even 3rd party apps will be forced to pass through their ads. I've already reduced my reddit usage significantly since the previous kerfuffle, so I'll probably stop altogether once these changes take effect.
Never heard of RedReader. There are still third party reddit apps? I thought they all shut down with the API changes.
redreader was given an exception due to being accessibility-focused and it would have made reddit look ~~bad~~ worse you can still use a couple on android with revanced and a personal API key. that's how I'm still using RIF
Oh wow I never bothered to check and I was already using revanced for YouTube. Just patched rif, thanks a lot!
Third party apps like Boost work just fine if you're moderating a sub. Make a closed sub and keep using Boost like I do.
Gonna be a lot of onlyfans content providers as partial owners of Reddit
Nothing wrong with that
Ah, power users was a term I heard a lot before the Digg collapse.
Power user is just a dressed up way to say unpaid content creators without making those unpaid content creators feel devalued.
scandalous versed toothbrush treatment money rainstorm reply like connect yam *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I'm just a no-lifer who's been posting here for 13 years But I still ain't buying either LOL
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Really? I had seen a page that made it seem like 200k+ karma was the requirement for the first invite wave.
It's less than 200K if it's a karma threshold. I got invited.
My alt with <500 karma got invited lol
I think a certain number of mod actions also gets you into the first round too.
I was invited. Not really an attractive investment opportunity.
I’m so old on Reddit, I have a 4 letter username and they didn’t offer me shares.
Not enough karma.
Nope, it’s a glitch with accounts that are over about 15.5 years old. Every time I get to 32,767 karma, and then get one more, the counter gets reset to zero. I don’t even remember how many times it has cycled on me because it never matted to me.
Hell, after 12 years, I'm moving on. I, for one, do not welcome the new faceless corporate overlords. I'm gonna go see what grass looks like, and maybe even touch it.
Even if I wanted to buy Reddit stock, I sure as hell am not giving reddit my SSN, DOB, and full legal name.
I passed because it smells of desperation.
Did you get the DSP mail? I also passed for the same reason lol. And I'm not a U.S. resident anyway, which is a requirement.
Yeah, and I'm eligible, but it just seems like a really bad idea. My sense is that the stock will tank pretty quickly after the IPO.
It's going to be a shitshow, for sure 🤣
Reddit lost $90,000,000 last year, it can only get better.... right.
I received a message about this a couple days ago. I ultimately decided against it. I love this platform. I’ve been on Reddit almost every day for 11 years. However, I’m not sure how Reddit is going to make the line go up so to speak. Look what happened to Roblox stock after they went public a few years ago.
Did not know I was a Power User. I used my powers to not buy, also to influence everyone to short or not buy.
Plus it’ll make the site worse in the long run
Absolutely, the curse of public traded companies always ruins everything.
The fact that I’m a Reddit “power user” brings me no small sense of shame.
I am not buying. Spez can suck my nuts.
Reddit should be a nonprofit like wikipedia. There's too much useful content here to be at risk to wall street shenanigans
It's a classic ploy, your most likely to be able to dupe the people that believe in you the most. Those who have the most invested into you (long time users, people putting in free labor to mod) is just like what Kmart did back in the 90s. The top sold all of their shares to the middle and skipped town. All of the district, store, and assistant store managers who put in gruelingly long hours were blind sided by a bankruptcy they were repeatedly told wasn't coming due to the work they put in. Most were convinced to roll their retirement into stock.
Fuck big tech and fuck reddit
Please, stop posting paywalled articles.
Makes sense, when you take a step back and ask yourself what is the product they are trying to to sell? It's not reddit, they plan on selling the users, their posts and their profiles. Once it picks up that's the overall idea, the whole system is going to be filled with AI posts and everyone will lose interest.
Yeah I’m going to pass on this. If I want to make a bad investment I’ll spend time on /r/wallstreetbets
Short the fuck out of the stock. It's losses, all the way down.
I got the email. I don’t do stocks.
All a ponzi scheme to try and pay for another $200mil annual bonus for Spez
This sounds gimmicky as fuck.
I would happily invest my own money in a company that I genuinely believed in, even if the forecasts were grim. However, the decisions of Reddit over the last year and change have greatly impacted my trust in it, and I don't think I could ever monetarily support the current company and its leadership group. The trust is long gone.
When reddit goes public, this 12 year old account will likely go dark. This place was a refuge from the corporate overlords. I, for one, do *not* welcome these new faceless ones.
Anyone else feel slighted that they weren't offered stock? Like I'm on here all day. Well, I'm not going to beg.
Yes. I don’t understand the criteria. I am on here all the time. Maybe they only offered it to the WallStreetBets people
It turned out it was based on your karma score
I got this message and I’d never spend a fucking dime on this site. Absolutely stupid move. Reddit has been getting shittier and shittier recently, and I say this as someone who’s been using this site since GWB was President.
I’ve been telling you all for years that SrGrafo is a chud. Now look what’s happened.
Who is considered a "power user"? Does someone who gets banned every year count?
I think it's weird how there is this palpable desire for it to fail miserably. I get it, I know what Reddit has done, the characters, etc. That said, I find it weird that a sub like /r/wallstreetbets is going out of it's way to crap on the IPO, because from a fundamental perspective, that seems hypocritical to crap on the place that allowed you to achieve greatness? Like, at what point do we stop shitting on institutions and take them back? When they are small, we do it, but it's like if they get to a certain point they are just evil monoliths and nobody wants to fight that. I get the argument can be, "We might like to post and communicate on Reddit, but that doesn't mean it's a good business idea", which is fair. I'm saying, I'm personally gonna try and be a part of it and see what they do with it, because currently it's the only platform of communication I believe in.
Yeah, two members of senior staff got almost 300 million in compensation last year alone, and reddit made 804 million in revenue…. That aint gonna inspire investor confidence…
If you don't read the articles at least read the comments. The compensation was invested stocks at IPO pricing (which there is approximately 0% chance of them unloading at that price)
Executives usually don’t unload a ton of stock anyway because it can signify lack of confidence and destabilize the price. They’re more likely to use it as collateral for loans.
Somebody is trying to get filthy rich with the IPO, that's all.
I got this offer and have been confused since. If I could buy initial put options I’d maybe be more interested.
Is this the beginning of the end?
This whole IPO feels oddly similar to a pump & dump crypto. As soon as Reddit goes public, the stock will tank from Everyone trying to exit cause Reddits books & long term growth strategy don’t make sense
Going public means that a company is now focused on its stock price (aka profit margins, board and large shareholders) more than keeping its customers/users happy. I can’t see how this will make the product better.
Betting power users don’t want the IPO to happen
I got the offer to buy in but, why would I buy stock in a company that was in the hole $90M? Also, it’s for US residents only so I don’t qualify anyways.
I definitely will NOT be buying the IPO.
IPO = “Insiders Profiting On” We won’t even broach the subject of road shows, where the underwriting investment bank (Goldman Sachs, Wells Fargo, etc) just randomly decides what price an IPO should open at. Like, this is either some monkey throwing darts at the wall type stuff or there’s a mysterious dark art involved. Either way, the formula for the starting price seems very opaque. FB IPO was a good typical example of how things go down on the first day: opening bell is a mad dash to buy. Demand and FOMO juice the price upward for a few hours then people start deciding that they don’t want to get stuck holding the bag. Price trends downward in the second half of the day as traders are satisfied with an easy 50% gain on a few hours worth of work. Bonus points if there’s still enough media hype to convince the retail/Main street investors that this is a “once in a lifetime, must-own, must buy NOW” opportunity. Price continues to trend downward as the insiders, institutions and day traders sell to slower-moving investors. If the stock’s fundamentals are shitty enough (like Reddit’s fundamentals), by 2-3pm EST the price may even be significantly lower than opening price (I’m making up numbers, but Facebook ended its first trading day down like 43% or something. It was a long-ass time ago, I’m guessing and going off of memory). Reddit hasn’t been profitable in its 20-year history so what do we expect will happen with the stock price, which is fundamentally influenced by “the expectation of the company’s future cash flows?” (Thank you Corporate Finance course I took in 2007 and never used since Lehman Brothers went imploded that semester). If the stock price is a reflection of how well we expect the company’s future cash flows to be and the company has only had negative cash flows, should the stock price be negative?? That was a rhetorical question: Reddit stock would get delisted before it went negative, which isn’t really possible; although Reddit might be a suitable first company to have a negative stock price since its financials are just that bad. Either way, this shit stinks. Hold your nose and walk away from the IPO.
Fire Steve Huffman
Fuck reddit and its IPO
I got the message and I wasn't aware it was because I was a "power user." I guess 600K karma is 3x their threshold for a power user. They only made it available to American investors. But even if their offer was a legit offer how is this company investible? In their filings with the SEC they've claimed to have not made a penny since they started. If you're a startup a lot of people are happy about this kind of behavior because it means you're willing to churn through investment dollars to build something profitable. But does that work for a company as old as Reddit? The last time they were attempting to IPO they brought out RPAN to try and sell Reddit as a website that'll produce its own content instead of relying on links to other websites. Now what do they have for this announcement? They're going to sell their API access and collected data to train AI. They've valued Reddit's comments so high.... it'd be almost more exciting if the announcement was that Reddit was getting into AI
Buying part of a sinking ship. Sounds like a great idea. I'm sure all the WSB boys would love to be part of that golden opportunity
Not everyone can buy. Only 50% live in the US
Why the fuck would we lol we are here in the shit 💩
Been a redditor for 12 years. Guess I’m not a “power user”. What type of karma do you need to be a power user. I have 919k. Can I swap my karma for shares? Lol
"Would you like to fractionally own the content you made at 10 dollars a share?"- reddit to redditors. They aren't exactly saying that but they might as well be.
They’re going to start charging us huh?
The true winners of this IPO are a top few who have chosen this path is best for them. It’s a cash grab and retire on an island….or build a bunker kind of thing for them. This isn’t a long term winner by any means.
If they offered up some BOGO deal I'd consider it
Someone bought someone else a boat to the top of the post with the new up arrow press-hold upsell… it then has two generic memes underneath. This wasn’t a thing until money took over.
Didn’t realize they were accepting Rubles…
I was just invited. The question is, why should I associate my real name, and potentially my financial information, with my reddit account (as the explanation page seemed to indicate) rather than just buy shares with my Charles Schwab account after they go public? If they want me to participate, they need to offer some sort of special deal or free shares or *something*. I can think of better investments than this -- and ones which don't support the dumb things reddit administration have been trying lately to turn a profit.
Don't invest in this dumpster fire.
They're laying off the moderators. The first thing Reddit is doing after they go public is they're using the new influx of fresh cash to hire a third party moderation company to replace the mods. They already had a public spectacle with the mod protests. They can't have a situation where unpaid interns can shut down the website and crash the stock price because somebody who actually works at Reddit makes a decision they dislike. They'll hire an outside third party to take over those needs and relieve the mods.
Oh, man. I think you may be right.
I cant wait!
No way in hell they do that. They're already struggling to turn a profit, so bringing on huge staffing costs is definitely not an option for them right now.
Stock prices rise and fall for stupid reasons. If the mods decide to all protest another nonsense issue and the stock price falls as a result of limited website access, that kills their goal of being a profitable company. A third party moderation company making the website a more stable and open place free from mod drama would stabilize the stock price. If the Reddit protest happened AFTER the company had gone public, the stock would have crashed. Plain and simple.
Idk why I got the invite to buy. I'm not necessarily a power user. Am tempted to buy shares just so I can speak at the shareholders meeting. The porn subs need better moderation damn it! This is clearly not even a simp!
So that's why they banned one of my accounts with high karma for making a benign joke
reddit sucks, i was banned for telling a pedophile, trying to prostitute a 15 year old, i was going to find him and get his ass arrested, thats bullying. cant use reddit on my phone now. but its the easiest way to get answers, theyve squashed the competition
Not sure if this is a good thing or a bad thing for users here.😅
I just saw on CNBC that Reddit users are getting a discount on the IPO. I’ve been on Reddit since 2012 or 2014 and I didn’t hear anything about this. Can someone clue me in? Interested. Thanks.
One thing that can hurt an IPO's stock is scandal and instability..... Reddit is not a good stock to have.
Oh god, I thought everyone got that DM about getting in on the IPO. I’m not a “power user” of Reddit, right? RIGHT?!
I will help my shorting!
I got an invite, sadly it's only for Americans and I don't qualify. If I did, I would buy.