Summary
Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.
Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.
Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.
Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.
I hope reddit dies.
I’m doing my part!
I got banned and figured it was a good time to kick the habit any way.
It’s much healthier without constantly seeing some bad-faith, AI-crafted post that tries to get under your skin, prying open your values and baiting your outrage so you can think you’re actually achieving anything of value by biting the bait and trying to correct morons who aren’t even real humans.
I do not miss the site.
Then they’ll all come here
Reddit has it’s problems, sure, but I just feel like the fediverse is a fresh of breath air.
It’s not just the AI bubble, it’s a distinct lack of faith in Huffman and as a CEO. He’s not forward-thinking enough, he hasn’t understood where the company’s value lies, and he’s ridiculously distracted by the latest shiny tech things (reddit NFT avatars, reddit crypto, reddit AI).
I fully expect Google to buy reddit at some point, exclusively harvesting all the info for their search engine, all the content for their AI models, and all the submission/view/voting data for their user profiles (what are you interested in, what do you think of these concepts, where are you connecting from, here are more ads we can send you, and these are arguments that might sway you in purchasing or other decisions).
If Google weren’t under antitrust pressure, I think that would have already happened.
In many ways, a Google owner would probably make Reddit better for a while. Google cares a lot more about the data people are generating than making the site itself profitable. They could afford to run it at a loss for years, whereas Reddit investors want to ensure they make money soon.
But, I’m glad it might not happen. Then again, who knows what will happen to Google and antitrust in the Trump admin, where bribery is now perfectly legal.
Aww, did Spez trade the family cow for some “magic” beans?
Good luck rebuilding the farm now, buddy.
hi i am the human male, called spez, i was birthed from a alien space ship , and hatched from an egg and sent to earth to manipulate the populace.
My parting message to Spez when I changed all my posts was, “Enjoy the IPO asshat!” While I wish I could update that message, it’ll still do. xD
Spez fundamentally misunderstands what Reddit is and who it belongs to: the people making the posts and providing the content. The more he alienates the users, the less value Reddit will have. He’s shot himself in the foot and he’s getting ready to fire again.
Oh he does, he just doesn’t care.
The line goes up, then you sell out to some anticompetitive behemoth to eat before it implodes. That’s how it works.
Plunge baby, plunge.
“Run, motherfucker, run”
-snoop dogg
Burn baby burn, disco inferno
Bye bye…officially deleted my reddit account. Enough interaction on here I can 100% make the plunge now. Sad because I have been there so long. But I rememeber when digg died, and its time to move on.
I was there for diggs death. I was a young college student.
I held off on Reddit and enjoyed a lack of that style of addiction for like 2 years. Then slowly reddit consumed me.
I haven’t been back for anything but porn since the API-pocalypse.
How’s Lemmy porn so far? I keep this account SFW
It’s getting better. Not nearly as much content but also not nearly as much only fans click bait.
So it’s ok, but reddits quantity has Lemmy’s quality beaten.
Short the dip .
Reddit is not coming back. I know when a site is dead
We said the same thing about Facebook 15 years ago. Look at them now. Still twitching proudly with the vigour of youth while their teeth are falling out and their flesh is rotting.
Yep it’s been slowly declining for years. There’s no coming back from what a shithole it now is
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Elon just sold Twitter to xAI for 33B, Reddit bastards can probably do similar. Some dumbfuck at Google or Microsoft will probably buy it.
xAI is Elon’s AI company. I don’t think the value at which he is willing to sell his one company to his other company applies much to anything outside of Musk’s companies.
In fact him selling it to himself shows the price is probably inflated
Link to this? There hasn’t been anything in the news about such a sale.
https://www.bbc.com/news/articles/ceqjq11202ro
Other shit has been bigger news.
plenty of news about it. but it is just elon giving his company to another company. Like facebook to meta or google to alphabet.
The funniest thing about it is, he valued twitter at 3/4th of what he bought it for.
The censorship going on there is crazy. I understand a site needs to tamp down on violent rhetoric but they crossed the line into absurdity. They banned me for calling out the racism in the GOP platform.
they are tamping down on the wrong kind of content, anything that disagree with israel, luigis incarceration, or elon and trump is an auto ban.
I have to admit I never thought they would punish users for simply upvoting content that went against their corporate overlords’ interests. True thought policing.
You sound like a far left lunatic. Welcome to Lemmy!
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I want to see the comedy-of-errors timeline where Luigi beats the rap based on a technicality or jury nullification…He finally gets out of jail…Then he immediately does it again.
Joke aside, socialism and Marx aren’t bad words around here. ☺️
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Marx never bathed and had boils all over his body
Typical wook beggar
Same. 11 year old account got banned for saying something. I’m not even entirely sure what it was. They deleted it and gave me the finger.
Fine with me.
I got a 15 year old account banned for logging in via tor… they run a tor website for tor access on the tor network lmfao.
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They’ll sweep ban entire comment sections of a submission they don’t approve of and they’re using AI to do it, so there are lots of false positives and dubious reasoning. They’ll send you a message lecturing you on your behavior but delete your comment so you’re left with only a vague idea of what they’re referring to.
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Thanks! I came from Reddit too. Looking for a safer place to stay in touch with the community. Are we allowed to say the name of Mario’s brother here?
Yes
Just keep in mind, “it’s called the Fediverse because it’s crawling with Feds.”
Don’t get stupid.
You can not only say Luigi, but you can also say that you wished it had started a trend.
Aldo?
The basic rule is that you can say what you want (and people can call you what they want for it!).
It would be polite to self moderate to an extent. No point getting the instance owners in to legal hot water. That’s a massively higher bar than Reddit has set however. Chatting about and admiring Luigi is completely fine.
Reddit. Free speech*
*only if your free speech aligns with our interests.
Everyone with half a brain knows that enshitification and pandering to CEObro echo chambers result in the platform losing large amounts of users or even dying.
Well the ipo brought enshitification at max speed so that’s not surprising. They ostracize and remove users who contributed to communities for a decade+ and then replace the long standing communities with a generic, Reddit controlled alternative that only reposts all time top posts to gain traction. The only thing Reddit has going for it is the user content which is rapidly getting buried under AI slop. Worst of all (for the investor class) you can’t really see Reddit being turned into another right wing cesspool to bait young men into violence with … so there really seems to be less and less reason for Reddit to exist. Let’s hope by 2030 it’s like one of those websites people say “remember when we had Reddit …”
A “dip” is when the stock goes back up. This is a correction
I thought a “dip” was the CEO of Reddit.
Looks like we’re both right!
Talk about failing to pivot. Reddit was in such a good position to ride the AI bubble. Too bad all of their content had already been scraped. They then alienated their power users and casual users got a peak behind the curtain. New, interesting things don’t start on Reddit anymore. The entire front page is just trump articles and reposts. You can predict all of the top comments because it is the same shit over and over.
more or less its going to be like facebook and youtube, a propaganda and rage bait farm.
Not to mention they made that deal with Google for a fraction of what it was worth. I don’t know what the fuck Huffman is doing. Just a greedy little piggy who doesn’t even know how to make money.
After the Inauguration, they had a bloodbath in February, permabanning many long-term, high karma accounts like mine (12yrs, 900K+).
These were the members who built Reddit into what it was, and after over a decade of high volume posting without getting banned, suddenly all of us made comments that earned permanent bans in the same month. Yeah, that’s plausible.
Now that they’ve ejected many if the members that made Reddit a lively place to debate, they’re stuck with novelty accounts, puns, bots, Russian Karma Farmers, shitposters, trolls, and general bullshit. I just went over to read some subs I love, and literally the first post I read was complaining about how long they had to scroll to get past the stupid puns to get to the real discussion.
Its been getting increasingly bad for a long time, but apparently it’s gotten far worse lately, now that they decided to get rid of the red meat and go vegan.
I like Lemmy, but they don’t have anything close to the active guitar forums that Reddit had.
Can confirm—I was a member since 2010. Got banned for logically going after MAGATs. Apparently, that’s not allowed anymore. What’s happening to this country—that people don’t even seem to have the cognitive capacity or basic mental equipment to recognize the freedoms being stripped from them in real time—is beyond disillusioning. It’s disappointing, devastating, and honestly hard to watch. And seeing younger generations, raised on flashing lights and internet brainrot, now stepping into adulthood? Oof.
I still have no idea why I got permanently banned. The interestingasfuck subreddit said I had multiple violations across accounts—something vague about participating in the Trump subreddit. Apparently, if you so much as post in that subreddit—whether you’re agreeing with them or talking shit to the MAGAts—then go back to interestingasfuck or any other sub with the same rules, they’ll permaban your account. And not just that one—they’ll ban any new accounts you try to make too. So honestly… I guess I DO know why I was banned, but compared to the vitriol I’ve seen on there, mine was not warranted. I’ve even appealed. Fucking hate Reddit now. Cowards.
Apparently all you have to do to get banned from Reddit these days is to hope Musk’s penis implant explodes and burns him to death from the dick up. Worked for me!
Yep, someone in another sub once said “I hope your plant dies” and their whole account was permbanned for “inciting violence”. Against a plant. Hysterical. That site is cooked.
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You were banned because you were obviously a person.
Have you seen the comments lately? Most of it looks like AI bots are replying to AI, upvoted by other AI bots.
You got me really curious so I prompted ChatGPT to give me a redditor style comment that’s anti-Trump followed by another far-left redditor’s reply to it and this is what it gave me:
Original Comment (Left-Leaning Anti-Trump Perspective):
“It’s honestly mind-blowing how Trump still has a cult following after everything. The man was impeached twice, incited an insurrection, and openly grifts his supporters with fake fundraising schemes. And yet, somehow, people still think he’s their ‘savior.’ The cognitive dissonance is off the charts.”
Far-Left Redditor Response:
“Because the system is fundamentally broken. Liberals act like voting blue is enough when the entire establishment—from corporate Dems to the GOP—is complicit in maintaining capitalism’s stranglehold. Trump is just a symptom of the rot. The real solution isn’t ‘vote harder’; it’s dismantling the system that enabled him in the first place.”
^ – this seems to be disturbingly accurate, I can only imagine this being produced at automated scale at this point.
Same with offmychest. Banning people like that is also against reddit tos but reddit couldn’t give less of a shit.
lol
Its a really weird place during elections, they’ve basically banned anyone with the opposing view on enough issues that its a full blown echo chamber. People then go crazy during elections trying to get their guy to win and the echo chamber grows exponentially.
I don’t care about being banned and I never read replies or check my inbox because it’s the internet and I don’t care.
Die reddit.
You don’t belong in this world!
