879
submitted 4 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

Non-paywall link

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[-] MuskyMelon@lemmy.world 174 points 4 months ago

Lets take a platform driven by community participation and ostracize community users. Yeah that'll work out well.

Reddit getting Digged and me likey.

[-] RestrictedAccount@lemmy.world 39 points 4 months ago

That is a deep cut reference. They are relaunching as an AI play.

That will bring back the people who were providing the free content.

(/s on the last part)

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[-] arrow74@lemm.ee 22 points 4 months ago* (last edited 4 months ago)

Yep the train from being offered early access to their IPO as a "power user" to a permanent account ban did not take long.

So here I am

[-] CosmicTurtle0@lemmy.dbzer0.com 12 points 4 months ago

They are counting on the dark internet theory to keep up the appearance of engagement.

Fuck them.

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[-] Madrigal@lemmy.world 122 points 4 months ago

Aww, did Spez trade the family cow for some "magic" beans?

Good luck rebuilding the farm now, buddy.

[-] Talaraine@fedia.io 33 points 4 months ago

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

[-] TomMasz@lemmy.world 85 points 4 months ago

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.

[-] brucethemoose@lemmy.world 35 points 4 months ago

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.

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[-] aramis87@fedia.io 62 points 4 months ago

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).

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[-] Formfiller@lemmy.world 60 points 4 months ago

Tends to happen when you ban all of your users

[-] Trilobite@lemm.ee 15 points 4 months ago

He listens to swatsticars guy why would any care any more

[-] catloaf@lemm.ee 52 points 4 months ago

If you deleted your content, reminder to go back and check it again. Despite running a deletion from my GDPR export data, yesterday I noticed a bunch of comments suddenly showing up on my account that weren't there before so I i had to rerun the deletion.

[-] tiefling 20 points 4 months ago

Is there a way to delete your data if you've been site banned?

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[-] mic_check_one_two@lemmy.dbzer0.com 12 points 4 months ago* (last edited 4 months ago)

Should also go back and check to see if you were unbanned. I was banned during the API purge, for mass editing+deleting my comments. First automod banned me from various pro-Spez subs when I started editing my old comments. Then when I repeated the edit+delete with my second/third/etc accounts, it “permanently” banned them site wide for ban evasion.

Went back a little while later, and all of my accounts were magically unbanned and all of the edits+deletes were undone. The benign explanation is likely that the ban(s) prevented any of the edits from actually committing. But the more tinfoil-hat explanation is that the admins want the site to look more active, so they rolled back bans so old content was still available and their user count appeared higher than reality.

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[-] SuiXi3D@fedia.io 52 points 4 months ago
[-] werefreeatlast@lemmy.world 24 points 4 months ago

Look, we can all laugh at that guy. That's it, that's the end of my comment.

[-] Fingolfinz@lemmy.world 49 points 4 months ago

Spez can suck a taint. I was on there forever and immediately bounced once that bullshit banning stuff started happening. Should have left sooner but that was the final straw

[-] barneypiccolo@lemm.ee 14 points 4 months ago

Who could have foreseen that banning all the highly active, long-term accounts in the same month would have a negative effect? Now they can live with all their bots, puns, Russian Karma Farmers, novelty accounts, and trolls.

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[-] gencha@lemm.ee 40 points 4 months ago

A "dip" is when the stock goes back up. This is a correction

[-] Zombiepirate@lemmy.world 30 points 4 months ago

I thought a "dip" was the CEO of Reddit.

Looks like we're both right!

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[-] grrgyle@slrpnk.net 39 points 4 months ago

Their only utility now is in five year old comment threads discussing niche topics, and that can only stay relevant so long.

[-] JustTesting@lemmy.hogru.ch 12 points 4 months ago

Though half the time it's

deleted

thanks that really solved my problem, you're amazing!

I still have mixed feelings about deleting one's whole comment history, though i also did that when I left reddit. it's the right thing to do, but the amount of information lost because of greedy leadership is super sad.

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[-] mrgoosmoos@lemmy.ca 38 points 4 months ago

lol. It's only going to get worse. The site used to be the top place to look something up, now it's just going to be full of deleted answers and disappointment.

[-] NarrativeBear@lemmy.world 13 points 4 months ago

Its already increasing hard to find relevant posts when doing a Google search with reddit in search. Most posts are from 2 years ago with low upvotes for niche topics.

This does make me happy

[-] catloaf@lemm.ee 11 points 4 months ago

It makes me sad. Such a great resource, gone, with no replacement.

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[-] ShittDickk@lemmy.world 36 points 4 months ago

Maybe if they didn't ban their (majority) liberal users for having "opinions" on the current government, after nonstop rhetoric from conservatives.

[-] Ledericas@lemm.ee 11 points 4 months ago* (last edited 4 months ago)

banning people for also calling out right wingers and trolls, worst is banning people for misconstrued statements, and also reporting people,g ets you banned.

like one time '18 a person asked why people were calling MICHELLE obama a certain way, i said the conservatives called her a gorilla, with gorilla arms, insta-banned.

they allowed astroturfing on reddit, which makes worst because they are tryint to "look fair" but refuse to do anything about the right wingers control certain subs.

actual POLICE(former and active) individuals control the legal and videos related subs.

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[-] Fedizen@lemmy.world 34 points 4 months ago
[-] selokichtli@lemmy.ml 32 points 4 months ago

/r/wholesomenews

[-] Ironfist79@lemmy.world 32 points 4 months ago
[-] ameancow@lemmy.world 13 points 4 months ago
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[-] barneypiccolo@lemm.ee 31 points 4 months ago* (last edited 4 months ago)

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.

[-] El_Azulito@lemmy.world 12 points 4 months ago

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.

[-] MithranArkanere@lemmy.world 30 points 4 months ago

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.

[-] formulaBonk@lemm.ee 30 points 4 months ago

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 …”

[-] Lucky_777@lemmy.world 28 points 4 months ago

Found a picture of avg Lemmy user blasting their Reddit accounts away.

[-] SnowzSan@lemm.ee 22 points 4 months ago

Exactly why I'm here.

All the American rhetoric that gets shared about how theie government is becoming facist but any call to action or talk of action is instantly bannable.

Fuck Reddit.

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[-] El_Azulito@lemmy.world 22 points 4 months ago

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.

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[-] drmoose@lemmy.world 19 points 4 months ago

Honestly reddit is still underrated in terms of social media value but it's a doomed platform from management pov. Its just so leaderless and spineless rn.

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[-] Sibshops@lemm.ee 19 points 4 months ago

Reddit has it's problems, sure, but I just feel like the fediverse is a fresh of breath air.

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[-] Poayjay@lemmy.world 18 points 4 months ago

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.

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[-] drascus@sh.itjust.works 17 points 4 months ago

I hope people keep buying and that it keeps losing money. I hope all these assholes investing in it lose a shit ton of money.

[-] Skellysgirl@lemm.ee 16 points 4 months ago

Been and deleted every post and comment manually. Do I need to do anything else?

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[-] pyre@lemmy.world 14 points 4 months ago
[-] j0ester@lemmy.world 11 points 4 months ago

When do we think Musk or Zucker going to buy Reddit, and call it something stupid? Redbook? xIt?

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[-] x3x3@lemm.ee 11 points 4 months ago

Good riddance

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this post was submitted on 31 Mar 2025
879 points (100.0% liked)

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