So reddit has their IPO, cnbc duly enlisted to help, spez got paid off to wreck things (cheaply), then it gets shorted to kill it...
So reddit has their IPO, cnbc duly enlisted to help, spez got paid off to wreck things (cheaply), then it gets shorted to kill it...
I'm seeing an obvious and expensive endgame here, including trying to sell reddit baggage to its users without giving them power.
There's /superstonk, the killed /ppshow crowd went back to /bbby, there's /teddy, Dr T is now on /householdinvestors...how many know about this place as an alternative and can it stay up if they show up?
Just don't get fooled into buying IPO, if you really want reddit stock wait till it has been shorted and discovers its real price, which will be a fraction of the IPO.
We need to get people to migrate here tbh.
That was the impetus. The subs backed off on being minatory, possibly for retention.
And note that subs other than wallstreetbets are not being mentioned. Tightrope walking going on at reddit HQ.
Chalk reddit up to another centralized platform that once showed sparks of promise and now is just another fully coopted and controlled cesspit.
I personally don't plan to go near the IPO as a profit play in either direction, and wouldn't invest capital in the business itself on principle alone. But to each their own.
I hope more continue to move to decentralized alternatives.
Word is slow to spread - in part because those of us prepared and interested to spread the word don't always have access to these other legacy platforms! and at the same time, relevant players (such as PP in the BBBY community) chose not to embrace Lemmy as a viable alternative before/during/after the cutdown of their presence on Reddit.
The power of decentralized alternatives is of course that they are a forever alternative and can only grow. Slow but steady.
No clue about the last sub….
Seems like a slow silencing