Thank fuck Lemmy exists. Reddit has been a shell of its former self for a very long time but in the last two years or so it’s gotten awful. Things will only get worse once Reddit goes public.
Lemmy reminds me of what Reddit was when I joined in 2011. Much smaller user base that tends to be tech savvy. It’s an old school forum vibe I thought was gone forever.
They'll post continuous losses like every social media tech company, and then the users will really begin to feel the screws tighten so far they won't be able to breathe anymore.
Modern tech giants keep taking funding rounds to grow, because what's profit now when you can spend and get bigger, so profit later can be even more huge?
Except investors are finally waking up to the fact that growth doesn't help much if the business isn't profitable, now or ever.
Reddit can pound its chest about how much it thinks it's worth, but that's all it is.
Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.
So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.
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