1069
Reddit stock tumbles the most on record as lack of new AI deals, US daily users metric disappoints (finance.yahoo.com)
submitted 1 week ago by to c/technology@lemmy.world
476 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 55 points 1 week ago (2 children)

If anything this shows how totally fucked equity markets are.

  • Predicted $732MM revenue, reported $805MM (10% higher than projected)
  • Expected 54MM DAU, got 53.2MM (1.5% lower than projected)
  • Expected daily users growth of 130.07MM, actual growth 130.3MM (0.2% higher than projected)

So they're making way more money than expected, but they haven't sold out their users fast enough so dump the stock?

  • permalink
  • fedilink
  • source
  • hideshow 4 child comments
    •
  • [–] 14 points 1 week ago (3 children)

    What it is is proof stocks should not be sold to investors. Should be owned by employees. Coops ftw

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 6 child comments
    •
  • [–] 7 points 1 week ago (2 children)

    Yes but then how will the execs make money

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 3 points 1 week ago (1 child)

    How will employees raise for any kind of cap-ex? This simply does not work in practice.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 1 week ago*

    The current system has folks raising cap-ex by selling bits of control in their company, but this is a thread about how that system has failed to both expand capacity and increase the utility of reddit. So. IDK, they could raise money with bonds or grants or something. It doesn't really matter too much because the current system simply doesn't work in practice either.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 1 point 1 week ago

    I'm a big fan of employee owned companies and I think that should be encouraged.

    At the same time, there IS a place for investors.

    But all 3 factors of production (land, labor, capital) are supposed to have equal seats at the table. In recent years capital owns the table and chairs and decides when land and labor are allowed to speak, which is not what successful capitalism looks like.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 11 points 1 week ago (1 child)

    53.2 million daily active users, which is down from 53.5 last quarter. US DAU is shrinking.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 1 week ago (1 child)

    A small blip. Not enough to trigger a sell-off, but also if it was a reason that would be the stated reason not just 'no new AI deals'.

    As a user, the decline in DAU I think is representative of a series of user-unfriendly policies and changes that the users have clearly communicated dislike of but management insists on anyway.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 6 days ago (1 child)

    Mostly I just want reddit to die. I'll savor my joys when I can.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 1 point 5 days ago (1 child)

    Reddit the company or Reddit the platform? Or both?

    Personally I still have a lot of love for Reddit as a community, which extends to as a platform. I'm not a big fan of the current corporate leadership, they seem to have enough sense to not piss off users completely but it also seems pretty clear they have a vision to turn Reddit into another mindless scrolling app, and the users (many of which have been with the platform for a decade or more) are useful as free moderation staff and content producers and don't have major influence on the direction of the platform or company.

    Problem is, let's say Reddit 'dies'. What exactly does that look like? It's not like the site would just shut off and go dark and everybody goes home. It is now a publicly traded company worth $30 billion. Spez is accountable to the board of directors who themselves are accountable to the shareholders. And if Reddit fails, none of them are just going to sit there and do nothing while that happens. You might get very very very lucky, the board of directors might replace company leadership with someone interested in preserving what made Reddit great. I'm talking somebody who would bring back /r/all, roll back a lot of the new Reddit style stuff, etc. More likely they would say if spez isn't making them money they will find someone who will and you'll get somebody who has no understanding of the community and decides to turn the screws on monetization. Or if the company loses a lot of value it would just be bought up by a private equity firm that would ring every last dollar out of it and run it into the ground in the process.

    All I'm saying is, think of wishes like that like a genie in a bottle, you make a wish and there's a good chance it will backfire.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 1 point 5 days ago* (last edited 4 days ago)

    I liked the community overall. Spez and the mods in general though are what I dislike. Centrism and zionism are king there. So its a propoganda site and thus needs to go away.

  • permalink
  • fedilink
  • source
  • parent