What’s next? Reddit Coin? NFTs?
That’s already there since a couple of years.
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Maybe Shoes…
Doesn’t reddit already have NFTs?
They also do have a reddit vault for crypto
Yep. Did the same.
How do I buy puts on this?
CBOE will create options for it pretty soon after IPO, probably that week or the next. You’ll definitely be able to buy puts on it before you’ll be allowed to short sell it.
Ironic that reddit goes the way of digg.
How much would that be divided each currently active Lemmy instance?
And they don’t even let you report it as the spam it is.
I got banned for doing this. “Report abuse”, they called it.
No one regrets getting banned from nazi digg.
So instead of Report abuse, they see it as Report abuse.
They lost 93 million on 2023, and paid the CEO more than double that.
Nope - can’t think of a single thing they could do to make reddit profitable.
Well kinda but not really, he owns around 4% of Reddit which is where the $193m comes from because of the $5b valuation.
Still, fuck spez
They paid him just shy of 400k. The stock and options he was given have nothing to do with reported losses. It’s all monopoly money until IPO, them we’ll see what it’s worth.
Paying yourself 190 million in stock options when the company is running at a loss is pretty much blatantly admitting that the company is severely overvalued. My guess is that it will tank 90% once it goes public. If not more, Reddit produces nothing inherent of value and they are really hostile to their users.
So my 16 year account with 90k legit comment karma wasnt good enough to be invited?
Now I dont get to early participate in the fomo panic IPO being forced by investors?
I could’ve made or lost tens of dollars.
that’s so weird because I got an email inviting me to participate and I haven’t ever been considered a ‘prolific poster’. I’m only at 60k and 12 years. I had no clue I was invited until I looked in my spam folder.
I’m at 10 year with about 500k combined. They sent me one. I laughed. Made me feel about as special as being given a pizza Friday at a job I’d been working for just as long. Actually, I would have been happier with the pizza.
Spez truly got that little dick energy going on
I take offense to this. I have a little dick. I don’t destroy everything for everyone around me while shitting myself violently. I say he has Caillou energy. Arrogant, narcissistic, hideous, an abject freak, a mistake granted legs and will hopefully suffer from a terminal illness.
Fuck Caillou. Fuck Steve Greedy Pig Boy Spez Huffman
The more I see you post, the more I like you.
“big/little dick energy” is pretty misogynistic, really…
Now you get to tell us what you think that word means.
it means (cis) women don’t have dicks, so naturally big dick men are in charge
also men with small dicks are inferior and should feel bad about themselves…or would you like to tell me how it doesn’t mean that?
small pp energy here
let me know when you hit puberty
This reeks of small tits energy.
It’s really just body shaming, no?
This doesn’t apply to sayings. If it does, saying someone has a big head for acting proud is also body shaming. That’s dumb.
This doesn’t apply to sayings
i don’t see why you would think that? it definitely applies to sayings.
btw, notice how everyone has a head but not everyone has a dick? the clue for why it’s misogynistic is in there…
notice how men are endlessly shamed and ridiculed for their dick size, and many people have complexes over it and even kill themselves?
the clue as to why it’s harmful and body shaming is right there…
not a lot of people crying over the size of their head…
there’s no support groups for people with big heads…
I think misandric is more apt of a description
That’s an insult little dick energy
I was in the first round of invites.
I might buy some depending on initial price. May as well milk them a bit like they’re doing to their users.
Only use money you are willing to lose
Isn’t that true of all gambling?
Yeah for sure, but I say it here to imply that it would be a loss. Maybe I’m just on the hate train but I’ve not seen a true way that Reddit’s fundamentals as a company can be anything but very short term performance. I think they have a very limited time to milk their existing content, and the enshittification is not helping bring much more in.
It’s an unrelated industry, but I encourage you to look at Rivian’s IPO. Bought a couple shares for fun and small spike for a day or so then tank all the way to the ground. Mr. Spez is gonna pump and dump and run away with your cash IMO.
Why did Rivians tank?
I like what they’re doing with their vehicles, and I hadn’t heard anything particularly damning about them
Me too, I think their products are exceptional for an early company. It was pumped high initially due to Tesla hype and investors Looking at their stock as the next potential Tesla (200x appreciation). That bubble passed shortly after the IPO, though, and unfortunately, Rivian had reported missing production and delivery targets for a few quarters in a row, increased expenses, like the rest of the industry, and generally not performing compared to what they told investors to anticipate.
They’ve had difficulty recovering since then and the share price is trading at about 1/10th of the IPO price.
You never know when they’ll dump. Hoping you can dump before others do in a pump and dump is not usually a good bet.
Smart move could be to short it.
But then, I thought that Facebook’s IPO would flop, too.
Apple is a fancy-looking fad. I give it 6 months tops.
Goo-gol? Stupid name. Ill just ask Jeeves.
From memory all those were performing well, getting load of attention and be used by “everyone” at the time of their ipo. Particularly google was THE search engine and Facebook was THE social media site.
Reddit has been around forever, most of us left, what does it really have to offer? Keeping in mind that llms have had access to all that data for s long time, I can’t imagine the last 8 months or so of reddit data to be that significant.
Usually companies go public because they have an aggressive plan that requires growth and a massive cash injection. What is spez’s plan if he gets that? I’ll admit I haven’t really followed much, but I doubt reddit had this huge potential. And that’s even if they didn’t alienate their users and nods.
Reminds me those pet food companies going public in the late 90s during the internet bubble.
You don’t wait until peak. You wait until there is a small gain and bounce.
Buy at purchase price then sell 25 hours later.
The moment insider lock up ends.
But you won’t have the fastest possible internet ping, others are gonna dump before you.
IPO = exit liquidity
That little “tldr” at the beginning of that text wall makes me feel gross
Most of that money is in stock, so he’s doing this to further inflate his stock value
This is such an amazing grift. I can’t wait until more social media firms start trying to direct-market their stock to their user base.
No way this can backfire
And watch as being a shareholder confers no tangible benefits for owning stock in the website of which you are a user, or worse, you get benefits, but they are limited to how much stock you have.
That’s how stock normally works.
Should have picked Harassment. Selecting Spam does nothing.
I’d pick prohibited transaction. I live in AU. NYSE won’t let me trade there.
Either that or “hate” - all redditors can get involved, but not you because you are not from the US. Sounds like communism.
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You can trade on the New York Stock Exchange in Australia. I trade foreign stock exchanges all the time.
It’s a bit more complicated… you trade through a broker with trading rights on that exchange. Unless you are a power user on a bloomberg terminal.
Reddit could direct sell shares to a US resident, I’m pretty sure, as a first party sale.
Why would you want to do that. Unless you are trading massive amounts of money, it’s more practical to just use an online broker.
That’s exactly how people in the US trade also!
‘Sounds like communism’
Show me people who don’t know what communism, Alex
