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Reddit seeks to launch IPO in March (www.reuters.com)
submitted 2 years ago by to c/technology@lemmy.world
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[–] 40 points 2 years ago* (3 children)

Hmmm, let's see.

  • Failing company rooted in a more traditional framework they're trying to break out of

  • Said company has no idea what they're doing and keep doing ridiculous things to "break out of" traditional framework

  • Keeps doing things no user/customer asked for

  • Said company has no real effective long-term game-plan and keeps changing tack because of bad previous choices

  • There's a good chance the company could go completely bust because of lack of good business plan and solid leadership

Redditors: Reddit is the new GameStop!! DRS!! MOASS!!!

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  • [–] 35 points 2 years ago (1 child)

    Keeps doing things no user/customer asked for

    I'm pretty sure the advertisers - their real customers - asked them to show more ads.

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  • [–] 33 points 2 years ago (2 children)

    Huffman is ostensibly following Elon Musk's lead, and last I checked, Musk had pretty effectively chased away a massive amount of what one might call "rational" advertisers. Reddit is absolutely following a similar path, and soon enough there will be advertisers who no longer want to be associated with a toxic brand.

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  • [–] 14 points 2 years ago

    spez doesn't care. He's realized that, despite his best befuddled efforts, reddit is failing and that no one else will hire him for a cushy CEO job. He wants to take his bag and leave while the getting is still (relatively) good.

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  • [+] -13 points 2 years ago (1 child)

    Blatantly wrong

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  • [–] 9 points 2 years ago* (1 child)

    I fucking love dumbshit comments like these!

    "I'm going to say this comment is totally wrong, but I don't actually care enough about the issue to explain it or use more than *checks notes... two words to justify my position."

    Fucking hilarious, every time.

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  • [+] -9 points 2 years ago* (last edited 2 years ago) (1 child)

    It's unlikely I'll write a longer answer on my phone. But if all you have is ridicule again, and insults, I'll leave you with some short thoughts.

    Gamestop has been doing fairly well, looking at financials. And people complain about not owning their virtual stuff, which NFT smart contracts could be a solution for. I don't necessarily agree on the the specifics for blockchain based solution though, nor did I like the picturefest which only obfuscated good use cases.

    Edit: unlike of course vague half truths

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  • [–] 3 points 2 years ago (1 child)

    Imagine simping for NFTs in 2024.

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  • [–] 0 points 2 years ago* (last edited 2 years ago) (1 child)

    It's a technology, simple as. But since we're back at the start, who profits the most from not moving status quo?

    What other viable and available technology options are there for a system where the consumer can somewhat freely do what they want with digital assets?

    And wtf simping? Wat

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  • [–] 3 points 2 years ago (1 child)

    What other viable and available technology options are there for a system where the consumer can somewhat freely do what they want with digital assets?

    NFTs do nothing to help this.

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  • [–] 1 point 2 years ago (1 child)

    How do you figure?

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  • [–] 1 point 2 years ago (1 child)

    In that they do nothing to fix it. How do you figure they would work? Or do you expect me to prove a negative? Have you stopped beating your wife yet?

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  • [–] 1 point 2 years ago (1 child)

    But it does work? And just fundamentally why wouldn't it as a concept?

    Gods Unchained, immutable X. NFT is a back-end tech and no one should buy anything just because it is a NFT. The whole idea is to add to the value proposition for the customer/end user

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  • [–] 1 point 2 years ago (1 child)

    No, it does not work. It's a URL that's attached to a blockchain. That's it. The URL can disappear, or you can create a parallel blockchain with the same URL given to someone else.

    Have you stopped beating your wife yet?

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  • [–] 1 point 2 years ago (1 child)

    What's with the straw men? Make your point only instead.

    That could be applied to anything, stuff on Steam only exist as long as Steam does or allows it to, however does the "URL" have to be accepted if it's out of network? I don't think it does. Still, there are inherent flaws in a blockchain system.

    Much like I can make a fake cd key and try to use matlab, but they won't accept it

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  • [–] 1 point 2 years ago (1 child)

    You're asking me to prove a negative. Making fun of that isn't a strawman.

    Steam works because we all decide to trust it. Same with fiat currency. There is no singular trustworthy blockchain, and I don't think there will be. Even then, owning a URL in the system doesn't solve any problem.

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  • [–] 1 point 2 years ago*

    I didn't, the premise that anyone can copy the blockchain and gain access to the assets is flawed. You'll have to look up the Immutable X implementation, it was too long since I read about it, if you're curious. Like I don't think there will ever be a digital version of ownership that isn't "a url" since, well it's digital. The url and wallet is connected to the thing blabla

    But you don't own your things. Steam even restricted my access to my things because I hadn't bought anything from their store in an arbitrary amount of time, I bought from other places and entered the cd key. The "web2" way of centralisation is also flawed.

    Is it the one and true only answer, I don't know, probably not in its current form albeit it is functional (immutable X). But the arguments against NFTs are mostly against these ducking pictures that ruined any possibility of working towards a goal where we as consumers could get more value.

    Edit: appeal to ridicule is also a fallacy

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