Reddit Going Public Sucks

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Viewing 8 posts - 1 through 8 (of 8 total)
  • 5
    #2290
    tater_swift
    Resident Potato
    Rank: Dew
    Points: 12

    Aside from a possible money making opportunity for investors, Reddit’s IPO is an overall bad thing for the internet & freedom of speech. Reddit is currently in the top 20 biggest websites on the internet (per Wikipedia as of Jan 2024), and now it is essentially turning its users into a commodity.

    There is a lot to unpack here, especially when you consider the Google investment of $60 million in exchange for training their AI on Reddit data. This screams corruption and bad news to me.

    https://apnews.com/article/reddit-ipo-going-public-employee-shares-redditors-838bb2834d896bc0152be60442f362fb

    Google already has control over much of the internet, and this partnership is insidious in a few ways. For one, Google is also boosting Reddit’s search rankings to drive more popularity to the site, perhaps as part of their partnership deal, but also to generate more data for their AI model.

    This is hurting small publishers in a lot of different ways, but aside from that, it’s easy to see how Google could essentially own Reddit and then artificially inflate it and make tons of money off ads, investors, and the whole nine yards. It’s just an insane thing that should not be legal, yet it is happening in real time.

    Perhaps it’s time for a new competitor to rise up and take over Google’s market share. I am not a fan of this IPO in terms of what it means for America.

    That said, I’m definitely going to buy some stonks. Because I like money too.

    1
    #2317
    TheDevilsLettuce
    Participant
    Rank: Droplet
    Points: 20.5

    But is it really a good opportunity for investors? Or is it just going to drop down to $5-$10 per share and take years to grow back?

    Personally, I think investing in this IPO would be considered a high risk decision.

    That said, I’m definitely one who enjoys high risk financial decisions. So, I probably will invest some into this.

    Nothing substantial, but I’d like to take the ride.

    0
    #2328
    tater_swift
    Resident Potato
    Rank: Dew
    Points: 12

    Is it more risky than my $1500 worth of SHIBA INU?

    I’m dumping all my crypto into the Reddit IPO.

    0
    #2371
    texastoasted
    Austin's Finest Toast
    Rank: Dew
    Points: 14

    I’ve also been debating this one. I’ve been an avid Reddit user for a long time, but I don’t know how to feel about this IPO. I definitely agree that it seems sus…

    0
    #2372
    TheDevilsLettuce
    Participant
    Rank: Droplet
    Points: 20.5

    @tater_swift currently, I would say that your crypto poses less of a risk than the Reddit IPO. The upcoming bitcoin halving is supposed to pump the hell out of the crypto market. Not that I really know what will happen. Crypto seems to be in a hot wave right now.

    Long term, it remains to be seen.

    1
    #4819
    tater_swift
    Resident Potato
    Rank: Dew
    Points: 12

    Interesting. I bought a few shares, we’ll see what happens. Not feeling quite so confident about it, and it seems a little bit anti-Reddit for Reddit to pump its own stock for some reason. It’s anti-Reddit for Reddit to even be public. In my eyes it goes against what the platform was founded upon.

    It will be interesting to see what happens with this whole saga. Especially with the Google involvement. I believe there might be some sinister things on the horizon when it comes to the overall state of the internet over the next few years.

    Google owning the internet is really not okay

    1
    #4932
    TheDevilsLettuce
    Participant
    Rank: Droplet
    Points: 20.5

    Up, and then down again. What a ride. Sold at 70 for a quick buck, waiting to hop back in.

    0
    #4991
    tater_swift
    Resident Potato
    Rank: Dew
    Points: 12

    Good for you for making some quick cash on it! I put a couple hundred down and I’m just going to let it sit there. I’m too broke to invest any more than that unfortunately and I decided to let my crypto ride instead of selling it for Reddit stocks.

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