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.
They’re just trying to get people to tie their real names, addresses, email, and financial information to their profiles, especially the ones with established post histories going back years.
They can figure some of that out, but all rolled up and verified by the account holder?
That makes their data on users waaaaaay more valuable to the people who buy data.
Now this is one part where I believe them. Public companies have strict controls on their investor relations. I can believe that they are going out of their way to keep their investor info separate from their user info. They will probably get fined by the SEC if they don’t.
That doesn’t make it a good investment, of course. I don’t want to be King Steven’s exit liquidity.
Yeah, I think they just want memestock-like bag holders, people invested in reddit “as a company/platform” who are unlikely to sell
With Spez at the helm I’d be surprised if they didn’t wind up getting in trouble either way, guess time will tell.
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?
They sent me an offer. I ain’t buying
There have been quite a few comments like yours here. Is everyone on Lemmy a former ‘power user’. That would be great.
In another thread a former mod said that both they and their bot had been given the offer.
I apparently must be as I got one as well.
Someone replied to me in another thread and said that they were giving invites out in stages based on number of mod actions or karma. The first cutoff was “only” 200k karma. The lowest was 20k.
I was thinking of signing up just to see the information but then I read the prospectus and realized it was a losing investment, plain and simple.
Last I checked my account was in the top 1% of karma.
lol yeah century club with a 16 year old account here. I got nothing.
I had two accounts over the years that I’ve gotten to higher tier levels.
It was honestly pretty easy back in the day. There were a couple of topics that I could pretty consistently get 5k+ karma from. Large subs with well known view points. Play into those and you take in massive amounts of karma.
my old account before it got banned was well over 500k. I’d been on since 2013. yeah, most of us are power users I think.
I got it via email. Reported it as spam. 🤣
They are going to try and fleece users even more by doing an IPO way too high. Its going to get shorted into oblivion and then settle in at about -70% of IPO value.
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.
What is holding lemmy back? I use it almost exclusively for months and find it to be a great replacement.
I think the main thing holding it back is the lack of active niche communities.
This is the big thing. There are multiple niche, and not-so-niche, subreddits that just don’t exist here. Or they have nowhere near the presence as on Reddit.
Don’t get me wrong, I’m trying to fix that by contributing where I can, but I am just one person.Yeah a lot of people here pretend like Lemmy and as a side thing Linux are these massive things poised to take over the world but realistically they’re just a minority thing that isn’t changing much at all.
Will take a new competitor doing something completely different to really stir things up to make moving away from traditional options worthwhile.
Lemmy has relatively poor automation and moderation tools compared to Reddit. There is no automatic moderator, for example, and you also don’t have usability tools and things that other people have coded, unlike if you were to use Reddit today, or some years ago in its heyday. Beehaw defederated from lemmy.world because the tools at the time meant that anyone can sign up at
.world, and post to beehaw, bypassing their registration restrictions.Federation can also be a bit of a headache to get around if you’re a layman. Do you need to go to all of the instances, or risk losing out on content that is hosted on other places? How do you sign up to it, etc. It’s a good bit more complicated, and less intuitive compared to a centralised service like Reddit.
The user base also isn’t big enough. Lemmy doesn’t quite have the critical mass of users to make it into the mainstream, and put it in more direct competition with a place like Reddit. Even busy communities are really quiet compared to a relatively active thread. This community is arguably only as active as it seems to be because of the bot posts.
Finally, Lemmy is still pretty young, and has a fair few teething issues. It wasn’t all that long ago that servers that updated to 0.18 couldn’t see any posts from older servers, because they didn’t Federate properly, and not all that long before that where Lemmy’s UI had some serious glitches, such as by seeming to signing you in as someone else’s account. People might want something that’s a bit more stable, rather than moving over for sure.
It’s probably part of why a fair few Subreddits moved to Discord, since it doesn’t have a few of those issues, and is relatively mature.
Sounds like you should buy.
Hey, I’m not connecting the dots about the revenge. Could you elaborate please?
Tbh if they’d made an offer like this a couple years ago I probably would’ve taken them up on it. In fact, I remember when spez first took over he made a thread that floated a similar idea.
Then they started listening to consultants, and now Im here
Well everyone wants to be Zuckerberg so what else are you gonna do except get consultants?
Here’s my Reddit Gold. 🪙 One share please!
I did laugh when I was sent an offer for a stock preorder.
If it gave me the right to short then yeah, I’d be in on that.
It concerns me that you are so eager to short yet think that one needs to buy shares in order to short. You should probably just stay away from financial instruments you don’t understand
Its ok to dabble in amything in small amounts.
But big risk should always br preceded by heavy research.
Or ya know, just YOLO on a 0DTE option because someone on social media likes it too
And that’s when everyone else goes… “to the moooooon!” 🐄🚀🌛
HODL, YOU AUTISTS!
#fuckthoseableistWSBcunts #actuallyautistic
Fuuuuuuuuuuck that shit
I may actually try to do the thing where you bet against the stock on this one. Smallest amount possible but it could be fun
Please make sure you read up on how shorting a stock works! Your losses are theoretically infinite if you short a stock. https://www.investopedia.com/articles/investing/100913/basics-short-selling.asp
The second group of people are honest AF 😂
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.
