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Lol, finance (and thus financial reporting) is so braindead.
I’ll summarize the whole article: Why did RDDT crash? “Because the stock price went down. Some people sold the stock, so more people sold it, now the price is lower”
Thanks Yahoo finance, this is the journalism we rely on you for…
Wow, reddit is actually up 164% since IPO. Did not expect that at all
If the GME/AMC story taught me anything, the price of a stock doesn’t necessarily reflect the value of the company. It’s just what people are willing to buy/sell the stock for.
I’m a bit surprised it’s not higher.
Everything they’ve done is to increase their
profitsrevenue. While some people may have left as a protest, the vast majority of people don’t really care - see: twitter, facebook, instagram, tiktok. If anything, the “bad news” about people leaving was great advertising for them.What I’ve observed over the past ten+ years, and still don’t understand, is how anyone enjoys the platform at all. At one level, I get that it’s just another social media platform that promotes headlines and memes. But the voting system and the engagement is revolting. I’m not going to say it’s 80% bots but I will say that 80% of people using social media might be dumber than the bots.
I deleted my account in 2023. I have to admit that there are few if any reasonable alternatives for some of the subs existing there. The Fediverse really doesn’t satisfy the need for people to get semi-expert opinions on things, for example.
Last I heard though they still weren’t profitable, but that was awhile ago. Has that changed?
They have gone done in quality an incredible amount just to get profitable, I can’t see them increasing in profit consistently…
Right. I had to edit my initial comment to replace ‘profit’ with ‘revenue’. Profit is down for the year (increased losses) but revenue is up. It seems to me (not an expert) that they’re investing more in their platform while it becomes even more popular. Their stock may very well skyrocket in the near future.
From the article:
Last year, Reddit, Inc. (NYSE:RDDT) saw net losses expand by 433 percent to $484.27 million from the $90.82 million registered in 2023, despite revenues growing by 62 percent to $1.3 billion from $804 million.
However, it recorded a 283.7-percent jump in its net income for the fourth quarter last year at $71 million versus $18.5 million in the same period a year earlier. Revenues for the quarter also surged by 71 percent to $427.7 million versus $249.8 million.
And a quick search shows “Reddit’s daily active user count has grown by 47.27% since Q3 2023.” And they’ve doubled their daily users in four years.
https://backlinko.com/reddit-usersAnd this should say a lot about a lot of thing today…
When it comes to daily Reddit app usage, only 7% of Reddit users opened the app every day in Q4 2023. To put in perspective, other social media platforms have a higher share of engaged users who open the app every day, specifically “X/Twitter (18%), Snapchat (25%), Facebook, TikTok (32%), and Instagram (43%)”.
Only 7% of users opened the app every day. That’s a huge opportunity for growth. And how do they drive growth? Presumably the same way other social platforms have - quicker content consumption that increases emotional engagement.
Profit stopped mattering a while ago.
Demonstrating “growth” is the only thing that’s important. A promise of possible, potential future profit is valued more highly by investors than actual profit is. The stock market was never especially rational, but all remaining rationality vanished over the last ten years.
Yeah they finally turned a profit late last year
Everything of value on Reddit was posted by people who have left
A lot of those people left for here
It’s still good for niches. I am in a couple subs about health conditions, and there are no comparable communities on Lemmy. I haven’t observed the composition or activity level of the groups change at all over the past couple of years.
The content is so repetitive, likely because they drive engagement by reposting content with bot accounts. I still get a major amount of news from there, I can tell it’s value is slowly fading
Disagree, as somebody that started on reddit 15 years ago who now browses Lemmy daily, I still read and post there more because there is more content and discussion.
People that say otherwise are living in a Lemmy or bluesky bubble
Be part of the change. Your “discussion” is with bots over there
What subreddits did you visit where discussion is with bots?
I still use Reddit every now and again for aviation and a mobile game (where there is an official company presence). Most of the discourse is genuine.
Now some of the more general subreddits, that’s garbage.
I get my news and politics from Lemmy now and, if anything, the experience is better. In fact, I seem to be more up to date on Canadian news.
I’ve found them periodically in r/worldnews, r/politics, and they are easy to spot on anything related to Gaza/Israel, Russia/Ukraine or things like crypto and finance. That’s where to go if you don’t want to look too hard. The other day I’m pretty sure I saw the same comment reposted several times across the same subreddit when sorted by top by year, something really generic with the same slightly off punctuation along the lines of “This community is the best!” It is really interesting to see actually. Most of the time their usernames are the randomly generated ones.
Ah, I generally avoid the big subreddits because they are low quality.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
Holy shit, a deka-post! That’s a new record, I think!
Yeahhhh. My bad. It bugged out on me and my reply wouldn’t go through. So, as any halfway decent Neanderthal would do… I slapped that submit button at least 10 times.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
I don’t believe he was referring specifically to discussions. Rather, it seems he was alluding to the broader scope of topics and content. This is not a criticism of Lemmy; it is simply natural that a platform like Reddit, which has existed for so long, would encompass a wider range of content and niches. I have no doubt that Lemmy will reach that level as well, but it will require time.
Lemmy has just about enough content that I rarely run out of things to engage with. It’s not quite there yet, but it’s pretty close and probably I don’t need to spend any more time on social media than I already do.
I like it here, it has that “old school forum” feel. Except most of the forums can crosstalk.
You’re most certainly part of the problem. You’re like someone who complains about local restaurants closing, but keeps buying drive through. Reddit isn’t better, it’s merely easier, but it’s also a terrible value and bad for your health.
There is nothing positive that Reddit is capable of, that Lemmy is not. It all comes down to shifting the audience. Lemmy keeps improving, while Reddit keeps getting worse. All Reddit has is inertia, the energy of which came from a distant, nearly forgotten push. Put some time and effort in, help build something rather than merely consume it.
Fark/slashdot -> digg/reddit -> fediverse
The inertia will wear out eventually.
Don’t forget stumbleupon.
Reddit for the most part has FAR more active niche communities. If you’re mostly looking for Lemmy versions of subs that frequently hit /all you’re probably fine; but I also looked for subs like aquaponics and ROG Ally and found pretty much crickets on Lemmy.
For now, I’m on both, because some of what I want from Lemmy doesn’t exist here yet. But I’m participating where I can in to try and help populate it so it eventually becomes viable for niches as well
I suppose what I’m trying to say is the less we rely on reddit, the faster those niche communities grow in the fediverse. The cost for splitting your energies is that it slows the growth of one and prolongs the antiquation of the other.
I guess I’m saying for now it makes sense that people would at least cross post
Folks gotta post here at some point to get the ball rolling but like, I found an aquaponics sub and posted there to literally zero response. I legitimately cannot use that instead of Reddit yet; there’s nothing to use. I posted anyway to try, just don’t shame me when I cross post the question back to Reddit due to silence here, yknow?
Here I am “supporting the local restaurant” but already am sitting at -20 points in an hour for stating my experiences.
On reddit there are more posts I wouldn’t have seen otherwise, and more opinions and people to talk with. There aren’t dozens or hundreds of people here discussing very niche hobbies, places, or events on an hourly or daily basis like there are on reddit. I buy the hamburger at the local restaurant when I can, but when I need a graphics card delivered next day, my mom-and-pop local computer store that sells to senior citizens has never even heard of a 5090.
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Stop giving a shit about fake internet points, they literally mean nothing.
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“Its dead in here” says person who never contributes anything except to complain how dead it is.
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I will say that joining an instance that does not federate downvotes confers some very real mental health benefits.
All I see are your 15 upvotes, friend. Don’t be discouraged from sharing your experiences.
I’m one of those people. I joined reddit in 2006, and was a very active poster/commenter for nearly two decades.
I deleted all of my alt accounts and logged out of my main for good, well over a year ago. The communities I was involved in were still mostly human and organic, but I saw far too many people getting blocked for disagreeing with the organization. (In addition to all of the other bullshit they were pulling, of course.)
I left, and came here. Lemmy was a wasteland of so few posts that I could read/skim ALL OF THE POSTS on Lemmy, across the fediverse! It was sparse, but I resolved to be the community I sought.
And now we’re…getting there. Reddit still has more real content, but it’s not worth digging through the trash for, and they’re not a company I want to prop up anyway.
I also joined Reddit 15 years ago, and I gave it up completely after the 3rd party API debacle. I haven’t been back since, outside a few searches for BIFL recommendations. I don’t understand what beef you have with me
Same story. I was there since almost the beginning. I refuse to go back there.
A huge amount of uncensored bots and censored users. I called too many nazis nazis for reddit and am IP banned now lol
I still read and post there more because there is more content and discussion.
You’re free to post and upvote whatever they want you to post and upvote. Go ahead and post the word “luigi” there, or even just upvote someone else that did.
Yeah that’s just all the normies left that came after it was already good. They heard about it from a friend on Facebook
It’s certainly more content but I’m not so sure there’s that much well-intentioned human-human discussion anymore. A lot of comments strike me as generic comments like those that could’ve been generated by a bot or a person working from script. I’ve begun noticing it on the local sub I usually check, as well. Until they wall it off it is still full of useful old references from a couple years ago, though.
Reddit is going to quickly be replaced by AI, leading to the question: what data will AI train on after that?
My conspiracy theory is that the recently popular ExplainTheJoke and PeterExplainsTheJoke subreddits are being used to train the AIs to understand the context behind memes.
My husband still browses Reddit regularly and when I asked him about this he said that the r/tattoos has definitely been taken over by AI training. A lot of the posts there are photos of tattoos with generic questions like “what is this style of tattoo called” or “how long would a tattoo like this last”. The only useful results I’ve found recently are from years ago, and even then a lot of searches lead to discussions with a ton of deleted responses.
I log in once in a while just to delete more.
They keep resurrecting them, I keep deleting them.
Oooh that’s a good one.
If they keep feeding garbage data to ‘train’ AI were going to end up living in a future ruled by an absolutely deranged train wreck of an intellect.
No changes for the US.
Also AI.
Who will train the AI?
“The AI!” Said the AI.
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Good. Let it fucking burn.
Because it’s trash?
Somehow it’s both under-moderated AND over-moderated
It used to be the “front page of the Internet”. Now it’s at the top of my search results, but the last page I’ll actually visit…
The term you’re looking for is “biased”
Sure but that doesn’t explain the mechanism
Reddit crashed on Monday because Hoffman thinks he can fuck with investors like a trillionaire can. Do I need to put the clap hands in between all the words, too?
Reddit should be a penny stock
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Based on what though? Stock market valuations have gotten so insane as to be almost meaningless. It’s a giant ponzi scheme.
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It’s also lost 46% of its value over the past 6 weeks on a consistent downward trend. Are you throwing more money at Reddit stock just because it’s up year over year?
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That doesn’t make sense
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