Reddit says it wants to reward users by letting them buy into the company’s public listing. Some say it’s too risky—others say they won’t pay a company they’ve already given hours of free labor to.
Reddit Is Letting Power Users In on Its IPO. Not Everyone’s Buying::Reddit says it wants to reward users by letting them buy into the company’s public listing. Some say it’s too risky—others say they won’t pay a company they’ve already given hours of free labor to.
I also got one. I have a little bit of money sitting in a brokerage holding account, and I was already thinking of buying a single share as a joke (so I had the option to heckle them “as an investor in the company”). But I wouldn’t do it via their stupid IPO insider process. That requires the buyer to share some PII with reddit. And I don’t trust them as far as I could throw them.
It’s literally a cooked plan with the SEC. If you file, it is expected on a timeline. There is literally no avenue to back down that doesn’t spell the end of your filing. Look it up. It’s only happened a few times, and to spectacular disaster.
This asshole is just exercising his options to take money from the same moderators that were up in arms over his changes last year. Make no mistake, this is Spez’s revenge.
I really hope this whole thing backfires on reddit, but I think the reality is that it will further enshittify until it’s profitable, and it’s already so big it’s unlikely to fail.
Lemmy just isn’t a replacement and I think the nature of lemmy will stop it from ever being one unless someone throws godlike resources at one giant instance that federates with basically nobody.
Some enshittified Lemmy alternative run by a megalomaniac who sucks Elon’s dick behind Wendy’s dumpsters and milks his userbase (but not in the fun way)
Exactly. It might be that the content they own (that we have them) is worth enough for them to be profitable, but I’m not going to put money down now based on something that might happen later. They’re not a startup, they’ve been operating nearly 20 years!
It’s based on Karma or mod actions and the invites are going out in waves. I’ve taken a screenshot from reddit’s faq page regarding the program that shows the tiers.
We are letting you in to take a slice if this juicy juicy pie only because you are special. Seems sometging out of a dodgy salesman or a conmans playnook to me
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.
English
I received the email yesterday despite having deleted my account. I rarely if ever delete emails. This was a first in many years.
I did laugh when I was sent an offer for a stock preorder.
I got an invite, too. I reported of as spam.
I also got one. I have a little bit of money sitting in a brokerage holding account, and I was already thinking of buying a single share as a joke (so I had the option to heckle them “as an investor in the company”). But I wouldn’t do it via their stupid IPO insider process. That requires the buyer to share some PII with reddit. And I don’t trust them as far as I could throw them.
How far could you throw reddit?
No you didn’t. Your fantasies don’t count.
Short
Probably best to just not interact.
They have no profit model. Can’t lose by shooting.
It can take longer for the market to realize you’re correct, than you can remain solvent for.
It’s literally a cooked plan with the SEC. If you file, it is expected on a timeline. There is literally no avenue to back down that doesn’t spell the end of your filing. Look it up. It’s only happened a few times, and to spectacular disaster.
Fuuuuuuuuuuck that shit
If it gave me the right to short then yeah, I’d be in on that.
And that’s when everyone else goes… “to the moooooon!” 🐄🚀🌛
HODL, YOU AUTISTS!
#fuckthoseableistWSBcunts #actuallyautistic
They sent me an offer. I ain’t buying
I got it via email. Reported it as spam. 🤣
This asshole is just exercising his options to take money from the same moderators that were up in arms over his changes last year. Make no mistake, this is Spez’s revenge.
I really hope this whole thing backfires on reddit, but I think the reality is that it will further enshittify until it’s profitable, and it’s already so big it’s unlikely to fail.
Lemmy just isn’t a replacement and I think the nature of lemmy will stop it from ever being one unless someone throws godlike resources at one giant instance that federates with basically nobody.
Sounds like you should buy.
Hey, I’m not connecting the dots about the revenge. Could you elaborate please?
You know what I did with the message I got from Reddit about this? BALEETED
Mine was DACHEATED.
Who the fuck is reddit
Some enshittified Lemmy alternative run by a megalomaniac who sucks Elon’s dick behind Wendy’s dumpsters and milks his userbase (but not in the fun way)
I’m guessing I know why I didn’t get let in on its IPO.
Not enough karma?
Dang, and you seem really torn up that you cannot throw your money in the trash :)
Apart from the fact that I’m too poor to do it anyway, pretty much.
I got the invite but unprofitable companies don’t really make up a large part of my portfolio
Exactly. It might be that the content they own (that we have them) is worth enough for them to be profitable, but I’m not going to put money down now based on something that might happen later. They’re not a startup, they’ve been operating nearly 20 years!
they gave me the option, but I’m not in the US so I couldn’t even do it if i wanted. so why they even asked me to is beyond me. it’s just bs.
“hey… wanna buy our stuff?”
“yes”
“oh you’re not from the US. sorry.”
“but you knew I’m not from the US”
“meh.”
I wonder what’s considered a power user. Because I got one, and I wouldn’t have considered myself one…
I got one, and though I’ve accumulated a bunch of karma, I haven’t been regularly active for months.
It’s based on Karma or mod actions and the invites are going out in waves. I’ve taken a screenshot from reddit’s faq page regarding the program that shows the tiers.
Imagine being in /r/centuryclub but still not being cool enough to get into the real exclusive club - Group 1 reddit IPO.
Hm, 25k karma is not what I’d call a power user, but ok. Thanks for sharing.
They’ll only invite people at that level if nobody buys at the higher tiers.
Oh, that makes more sense
We are letting you in to take a slice if this juicy juicy pie only because you are special. Seems sometging out of a dodgy salesman or a conmans playnook to me
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