Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway | CNN Business
Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.
This is fucking hilarious. They're scamming the tranny jannies.
It'll be one of those IPO's where the masses get to buy in, then realize they have a particular type of stock that they cannot sell, except during specific time periods. Meanwhile the big players will have Type-A stock or whatever and get to dump them while the price is high from the publicity.
https://archive.is/wip/yDd3V
Thank you. Who seriously posts a CNN link, unarchived? 🙄
Or any link really.
I smell a venture capital scam or possibly money laundering. probably both. and who am i kidding. all of venture capital is a scam.
You are missing a big one. The CIA has invested in tech companies in the past:
https://en.m.wikipedia.org/wiki/In-Q-Tel
In Reddit case, China has invested in them.
"Reddit gets a $150 million investment from Tencent and users are posting memes to mock the deal"
https://www.theverge.com/2019/2/11/18216134/reddit-tencent-investment-deal-memes-amount-winnie-the-pooh-tank-man-china
Data is worth more than money
true, but the people who want the data already have it and control reddit. i think this is more about cosmopolitan financiers doing what they love to do: clip a few coins.
Congratulations, you've discovered the reality of most internet companies. YouTube also makes no money. Twitch is a disaster. Elon showed that Twitter is trash and even before then it was known they solely survived off government grants.
The reality is that consolidated internet forums/sites are not viable. Centralisation is overwhelmingly a massive mistake. Where centralisation is possible in the physical world (though still not a good idea in my opinion), centralisation on the internet cannot be viably monetised to accommodate users that (rightfully) refuse to pay for these services.
But these companies somehow stay afloat? How? Most of the time, through investors with vested interests, or government grants. Why do these companies get grants? Who knows, but they get them. Almost like it's a scam, and they're able to scam taxpayer money.
Reddit is failing to pull off that scam, and so they're hoping that going public will bring in the money instead. But it won't. They'll get an immediate inflow, and then it'll continue to fail again. Like it always does.
It'll be the same scam as Facebook. Government gives them all they want to make bank and they are open book to them.
Bold move considering the entire US stock market is just Nvidia. Does Reddit have some AI snake oil to FOMO the normies?
Do we have actual documentation that it's being propped up by government intelligence agencies or is that just sort of assumed because it's the only possible explanation that makes sense?
Elon could buy it and give it the Twitter treatment. I bet 80% or more staff could be fired with no loss to productivity.
I’ll laugh if Elon gets the max shares for it too.
It will never happen, but I'd love to see Spez and the troons that are spit roasting him thrown out of Peddit HQ after a hostile takeover by someone willing to be the adult in the room.
Only an encentric billionaire like Elon with a non-financial motivation would outright buy it. I think that's why Elon bought Twitter. Not to make a profit but to be able to shitpost without getting tranny jannied.
But keep in mind that the average tranny janny isn't thinking like you or a smart investor. They're retarded and if the stock comes with voting rights that might be another motivation, although I doubt they would be able to afford enough to meaningfully increase their influence beyond what their powermod positions grant them.
I'd love to see reddit's equivalent of "the twitter files". Actually no I wouldn't want to see that because it's most likely every groomer's child porn toolkit, but I'd love to see spez getting implicated in various shady crimes there. If someone looked through their backups I'm sure editing people's comments on T_D is only the tip of the iceberg.
ESG to the rescue!
The No-kay Coral of where socks and bots go to die.
See ya later Reddit, enjoy Facebook or whatever shit you think of trying to tango with next