Given how rigged the entire experience became over the years, what with the relationships between supermods and admins, the number of openly broken promises and the sheer amount of asshattery involved in everyday happenings, the neverending lies, and then marginalizing the visually impaired in one stroke with a response that seemed like a useless long form of “so what are you gonna do about it?” just like they did with the API call debacle, this seems far more like a toilet factory reserving shares in shit for its biggest shitters more than anything else. And at least a toilet factory would have something tangible in porcelain to show for it in the end, but Reddit’s just a huge steaming pile of ad riddled bot shit now.
I think this IPO reserve probably sounds reallllly good to both the very guilty and the very gullible, and to absolutely no one in between.
Wonder if this would mean that Reddit might end up going the way of Quora, when they did their question monetisation scheme. Since users might be incentivised to become big by posting a lot, and replying a lot.
Might be interesting to see if this might mean a massive surge in reposts, or just a big increase in the amount of posting as people fight for those spots, trying to be funny/up voted enough for it.
Something about this is very bizarre to me. On the one hand, offering ownership to heavy users sounds like a great idea, albeit one quite counter to Reddit’s demeanor and behavior towards users over the last couple years. On the other hand, isn’t this kind of like Netflix offering shares to the subscribers who stream the most content? Just because you use a service more than anyone else doesn’t necessarily mean you should be invested in the company. I dunno, I have mixed feelings about this, but I’m generally skeptical that Reddit ever has its users best interests in mind.
isn’t this kind of like Netflix offering shares to the subscribers who stream the most
Not really, because a Netflix subscriber is purely a consumer of content. Someone who posts on Reddit is contributing real value which can be profited from.
A better comparison is the difference between a “Bank” and a “Credit Union”. A bank has customers and shareholders. The shareholders profit by selling services to customers. With a Credit Union your customers are your shareholders.
Credit Unions don’t sell services… they use the account holders money to pay for services which provided to account holders. They also use the account holder’s money to invest and earn profits. Those profits are returned (in full, minus operational costs) to the account holders in the form of interest rates based on the amount of money in each account (banks do that too, but credit unions usually have better interest rates). PS: if you have an account with a bank, you should probably consider closing it and find a good Credit Union… especially in the modern world where transactions are online and you don’t have as much need for cash/etc (banks tend to have more branches).
It seems like Reddit is planning to be somewhere in between. With shareholders, and customers, and “customers who are also shareholders”. Maybe it’s something the we should consider over here in the fediverse… because I certainly don’t trust reddit’s leadership to do anything good with the content I provided for them (which is why I deleted it…)
Still don’t regret deleting my account. Millions in karma through years of sharing interesting things. But Reddit has become a cesspool and this only proves it is getting worse.
The theory is that the issue price is less than what the stock will be at shortly after IPO. That’s why principals get excited about IPOs. You’re issued some vested shares and often have the privilege of purchasing more shares at the issue price before launch, then it goes up, you profit.
Of course, sometimes that goes hilariously wrong, see Facebook.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@lemmy.world
This is a most excellent place for technology news and articles.
Given how rigged the entire experience became over the years, what with the relationships between supermods and admins, the number of openly broken promises and the sheer amount of asshattery involved in everyday happenings, the neverending lies, and then marginalizing the visually impaired in one stroke with a response that seemed like a useless long form of “so what are you gonna do about it?” just like they did with the API call debacle, this seems far more like a toilet factory reserving shares in shit for its biggest shitters more than anything else. And at least a toilet factory would have something tangible in porcelain to show for it in the end, but Reddit’s just a huge steaming pile of ad riddled bot shit now.
I think this IPO reserve probably sounds reallllly good to both the very guilty and the very gullible, and to absolutely no one in between.
Anyone else buying puts?
Ready for that pump and dump.
Emphasis on dump . . .
Wonder if this would mean that Reddit might end up going the way of Quora, when they did their question monetisation scheme. Since users might be incentivised to become big by posting a lot, and replying a lot.
Might be interesting to see if this might mean a massive surge in reposts, or just a big increase in the amount of posting as people fight for those spots, trying to be funny/up voted enough for it.
How big is the user?
About 400 pounds
All 12 of them probably, Ghislaine Maxwell redditor level big. 🤮
Wait, AI can own stock now?
That’s actually nice, in a vacuum
I hope none of the stock exchanges have captchas, otherwise they might have trouble selling…
Something about this is very bizarre to me. On the one hand, offering ownership to heavy users sounds like a great idea, albeit one quite counter to Reddit’s demeanor and behavior towards users over the last couple years. On the other hand, isn’t this kind of like Netflix offering shares to the subscribers who stream the most content? Just because you use a service more than anyone else doesn’t necessarily mean you should be invested in the company. I dunno, I have mixed feelings about this, but I’m generally skeptical that Reddit ever has its users best interests in mind.
Not really, because a Netflix subscriber is purely a consumer of content. Someone who posts on Reddit is contributing real value which can be profited from.
A better comparison is the difference between a “Bank” and a “Credit Union”. A bank has customers and shareholders. The shareholders profit by selling services to customers. With a Credit Union your customers are your shareholders.
Credit Unions don’t sell services… they use the account holders money to pay for services which provided to account holders. They also use the account holder’s money to invest and earn profits. Those profits are returned (in full, minus operational costs) to the account holders in the form of interest rates based on the amount of money in each account (banks do that too, but credit unions usually have better interest rates). PS: if you have an account with a bank, you should probably consider closing it and find a good Credit Union… especially in the modern world where transactions are online and you don’t have as much need for cash/etc (banks tend to have more branches).
It seems like Reddit is planning to be somewhere in between. With shareholders, and customers, and “customers who are also shareholders”. Maybe it’s something the we should consider over here in the fediverse… because I certainly don’t trust reddit’s leadership to do anything good with the content I provided for them (which is why I deleted it…)
Unidan punching the air right now
Here’s the thing…
He’s right behind you.
Selling their data for sweet Dolla Dolla bills
Still don’t regret deleting my account. Millions in karma through years of sharing interesting things. But Reddit has become a cesspool and this only proves it is getting worse.
How is buying at IPO price a “privilege”? I get that options are a privilege, and gifted stocks are, too.
The theory is that the issue price is less than what the stock will be at shortly after IPO. That’s why principals get excited about IPOs. You’re issued some vested shares and often have the privilege of purchasing more shares at the issue price before launch, then it goes up, you profit.
Of course, sometimes that goes hilariously wrong, see Facebook.
Well I’ll be damned, karma was actually worth something this whole time…
I hope that one guy with both broken arms gets some of that sweet IPO action. That guy was a fucking legend
Do you think he’ll kick it with coconut guy on their private island?