- cross-posted to:
- reddit@lemmy.world
- technology@beehaw.org
- cross-posted to:
- reddit@lemmy.world
- technology@beehaw.org
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.
I’m doing my part!
I got banned and figured it was a good time to kick the habit any way.
It’s much healthier without constantly seeing some bad-faith, AI-crafted post that tries to get under your skin, prying open your values and baiting your outrage so you can think you’re actually achieving anything of value by biting the bait and trying to correct morons who aren’t even real humans.
I do not miss the site.