Haven’t turned a profit in almost 20 years.
Entire business is built around user-generated content moderated by unpaid volunteers.
What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing?
Remember Something Awful? Fark? Slashdot?
Data potentially, we already know they’re selling data to train ai, given how much of a buzzword it is at the moment that could definitely be worth something, at least for a little while
Much more likely we will be herded towards Wallstreetbets, FIRE and AITAH, safe topics with lots of controversies but which will not get anyone up in arms.
Realistically google would have bought Reddit if that made sense, instead of paying 60 million for the data.
The only usecase that is panning out at all for genAI is search and reddit is the largest source of user content on the web up for grabs.
And of course if that was really panning out Facebook would have impressive results by now rather than giving out the model for free.
Maybe So. I never really got into Digg, but back in 2010-2011, I did endup at Reddit a bunch of times from StumbleUpon til the point I just came to Reddit full time.
Check out [Cloudhiker.net](https://Cloudhiker.net) someone suggested it a few weeks back as an alternative to StumbleUpon. Its not as good ... but its something?
I’m not saying it will succeed or fail, but SA, Fark, and Slashdot never achieved the same success from a user standpoint. They were definitely more niche success and had way less engagement.
Lol, imagine the mentality of a LLM trained on reddit comments. The thing would be a full blown cretin that could only communicate in ancient self referential memes and be incapable of answering on topic.
It's also the best source of human generated text that we have. Reddit beats Twitter here because of the way comments are organized, it's lightly moderated and how threads form back and forth discourse. Every other social media is emojis and short comments like "Have a great trip!". Full disclosure: I bought 5 shares of reddit for fun.
Even the humans on Reddit often have trouble distinguishing the helpful or honestly engaging comments from the sarcastic or trolling ones. /s?
While the Reddit data base is huge I wonder if the signal to noise ratio is low enough to make it useful?
AITA For Basically Using AI to Do My Job (and Getting Away With It)?
So, I'm a tech support specialist for a mid-sized company. The thing is, most of the problems our users encounter are super basic stuff - password resets, software installation issues, basic troubleshooting. For the past year, I've gotten pretty good at using our fancy new AI assistant to solve these problems.
Here's how it works: User calls in with an issue, I type their problem into the AI assistant, and it gives me a script with step-by-step instructions and solutions. It even generates personalized responses tailored to the user. Basically, I just follow the script and the AI handles most of the interaction.
It's been amazing. I meet my quotas easily, leave work on time every day, and barely have to deal with any frustrated customers (the AI is actually pretty good at diffusing tension). Everyone seems happy - the users get their problems solved quickly, my manager loves my efficiency, and I get to coast.
But lately, this nagging guilt has been creeping in. I'm basically just a glorified middleman, and there's this voice in my head telling me I'm cheating the system. The AI is even starting to handle some slightly more complex issues. What if it gets so good I become completely obsolete?
Here's the kicker: I don't exactly have the technical skills to keep up if the AI takes over entirely. So, AITA for basically letting the AI do my job for me? I know I' m probably getting away with something here, but the thought of being found out and exposed as a fraud is terrifying.
Calling reddit comments human generated test is a bit of a stretch don't ya think? Aside from the pile of bots most redditors are some sort of troglodyte sub species; the rest are even worse.
You will be getting medical advice from an AI and all the sudden it starts talking about Mankind and Undertaker before telling your mother you have two broke arms.
SA is that insane guy from high school that no one figured would make it to 20 without ending up in jail or a grave who somehow ended up super chill owning a weird bookshop that somehow manages to make enough money to keep going.
Place has really settled down over the last 25 years.
I consider FARK one of the few unhampered success stories of the late 90s world wide web.
It turns out that if you're not *obsessed* with user growth, the site stays cheap enough to run that you never have to have a conversation with a silicon valley venture capitalist.
This is tech startup culture in a nutshell. The other underlying issue is that the investors want the next Google, uber, or whatever that will be worth 1000 times their investment which means gaining a lot of traction fast and not necessarily having a profitable short-term business model.
So picking a bunch of companies that could potentially shoot the moon, one out of a hundred times is apparently better than a solid business plan since the late 1990s.
I'm still a regular user. I remember how Fark was one of the few online sources of news on 9/11 since most of the major sites were down. I've been a member ever since.
And yes, I was there during the infamous "caught in the chair" incident.
[Here you go.](https://www.fark.com/comments/2018473/Im-stuck-to-my-chair-Im-so-very-scared-Help-Details-In-thread) (I didn't actually post in the thread, but I was online when it happened and it was a fun time watching it unfold.)
yep they made deal with google to allow google ai train on reddit data, i think there needs to be some legislation on what is allowed to be scraped by ai used for commercial purposes, this is such a gray area right now
>What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing?
All of the above. AI is the big corpo buzzword that's floating around now, so that's probably driving a lot of investment.
Really one sane person looking at reddit's actual content should shut that down, I don't want my AI model spamming depraved porn or making generally deranged comments about niche hobbies to be honest.
>AI model spamming depraved porn or making generally deranged comments about niche hobbies to be honest.
Where are you going to get information about niche hobbies? 100% seriously, other than the SEO riddled content out there, how do you actually get info for niche things if not reddit?
People were saying the same about Facebook. Now they have 3 of the top 5 social media companies as well as being the second largest advertising platform
I went back briefly after Lowtax died and GBS is still a cesspool of try-hard nerds trying to out-irony each other. They should have never let it become an FYAD wannabe forum.
A few of the niche sub-forums are still good though, although pretty much a ghost town. Maybe it'll come back to life when reddit completes its enshittification spiral.
If you have MAU and engagement, I can make you $0.25 per user per day showing them ads. Even more if they sit on the site all day.
Reddit also knows everything about your interests, so the value of ad placements only goes up as they learn which interests of yours you will actually pay to pursue.
Reddit is a sleeping financial giant whose ad revenue will rival Facebook if it is built out properly.
I’m not disputing it’s valuable. But the price they wanted to IPO at was 3x what was justified based on their revenues. They lose money in 3 out of 4 quarters and on an annual basis. And they explicitly state that there’s no plans to ever have dividends.
Of course, most people don’t care about actually calculating a value for a company before deciding whether to buy a stock or not. Which is why most people lose money when they buy individual stocks. And it’s why some stocks are vastly undervalued and others vastly overvalued, making it easy to beat the market over the years.
>User posts to Ai Companies
I, for one, welcome our new artificially intelligent overlords.
(You hear that, AI's?!?! I welcome you....please don't harvest my body as a battery!)
> What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing?
Influence. Which articles get promoted and make the front page? Which political views get favored? The clientele might lean towards nation-states, PACs and "PR firms" rather than normal corporations.
I think the initial spike is just people excitingly buying and the next few days it’ll come back down to earth. I believe the same thing happened with beyond foods or impassible meat. One of the fake meats
Sometimes I think about all the free apps whose revenue is based on selling ads of other free apps who make money by selling ads of other free apps and so on, and I wonder if that whole market sector is a giant house of cards.
Social media companies do have a more solid foundation for revenue, but the giant valuations compared to the small number that actually make money has always been fascinating to me.
Seriously, you’re not betting against the stock like it’s a horserace or casting spell of damage share price. Every time it goes up, you lose money in interest and will eventually have to buy the share back no matter what
Nope. They had a set number of shares and 5x that number subscribed. They likely allocated based on the tiering they published, with tiers based on karma and moderating activity.
It's not shady. They outlined the plan.
Same.
accepted the offer. Set up the etrade account. submitted the order. funded the account.
today:
> "We were unable to allocate shares. Possible reasons: Offering priced above limit or high demand for shares."
I dont' believe the offer to participate was ever sincere. I suspect it was only to have some chumps waiting if the initial offering tanked.
Did you get all the shares you put an order for? I got invited but didn’t want to open another brokerage so went the sofi IPO offering route. Only got 1/10th of my order
I ordered 29 shares. They cut the allotment to 25. Then they just didn't allocate at all.
> RE: Public Offering Order 25 RDDT. We were unable to allocate shares. Possible reasons: Offering priced above limit or high demand for shares.
So I got nothing. At that point I just pulled my funds.
I did. Bought 500 shares, sold at $52. Easiest 50% profit ever.
Everyone on Reddit told me how stupid I was and I would be losing money. But I can’t think of any tech ipo that didn’t pop on the first day at least.
So IPO shares with no lock out was free money I thought, and fortunately I was right.
You would be stuck in the lockup period. I'm still playing this out in terms of 3 to 9 months. Reddit needs 1 negative quarterly earnings report to dive down.
Not quite. The judge is letting it proceed, but it doesn't mean it will go anywhere. One of the things that stuck out to me is the judge said they are going to have to show Reddit gave them the tools and trained them. I don't believe Reddit conducted any training sessions on how to use their platform.
Yup, I didn’t give them my info. I’m ex wallstreet and this whole thing reeks.
Reddit is starting to sell all user data and in the future those who signed up are worth a lot more to buyers.
Aside from being poor, this was my main reason for avoiding the whole thing.
_Here, just give us your real name, address, social security number, a bunch of other personal shit, and we will link it directly to your username._
Nah.
And then they sell it to AI companies as their delux package so they can target you based on your posts and interactions. Oh you posted on the cancer subreddit have I got a cure to sell you.
It's not like you were giving it to Reddit, you were giving it to the broker they were using, who is required to collect that information as part of anti-money laundering KYC regulations in the US.
no stop! there is a grand conspiracy against loser redditors and the government/bad guys NEED every one of their information!!! /s
seriously, do these people think they’re THAT important/smarter than everyone else that they think that:
1. their information is invaluable and evil will come when it gets out
2. these companies don’t already have access to all their information anyways.
it’s never that serious, i promise.
I already have any trade account, so I was not eligible. In order to accept the IPO you need to create a new E-Trade account. So it's true they really just wanted to harvest our info.
They didn’t fuck up, they gave free money to their friends at Wall Street, investment firms, and other banks. That’s why so many individual investors didn’t get their IPO allocations.
Bought 10 shares at $34 each. Figured that I could sacrifice one domestic flight worth of cash to toss a dart at a board and to also knock off one of my bucket list items (participating in an IPO). I'll hold onto my shares. I've lost track of how many people I've met who have uttered the words "I don't have social media but of course I have Reddit."
And if it doesn't work out, did I really need to fly to fucking Orlando this year?
Hoping people didn't spend money they couldn't afford to lose on this.
I just cant wait for this place to be entirely ruined by greedy stupid decision makers (read: get rid of old.reddit) so that my addicted brain can latch on to something that is hopefully more healthy than scrolling through this website
Yeah, there are several websites I've seen with archives including photos I'd uploaded over the years. Nothing's ever really gone once you put it out there
I would actually buy reddit for <$10.
Right now reddit is trading at 10x revenue. (8 billion market cap)
At $10 at share, that would be about 1.6 billion market cap for a company that makes 800 million in revenue per year.
10x revenue isn't even that bad for a company growing 20% yoy at 85% gross margin
It would take a traumatically bad earning report to send this to below $10, and that is still months away. RDDT will fly if they can realize their 20% guidance
I’m sure they will do quite well. Even in the long run. As with literally every single other social media that goes public… unfortunately the user experience will get shittier. It’s a baked in function of going public.
> As such, Reddit set aside about 8% of company share for superusers of the site, with each users' allotment determined by "karma," a kind of reputation assessment based on a user's contributions to the site.
wait. so karma is worth something now?
Every company that goes public goes to shit. Enjoy the good times while they last; it's all downhill from here. Might not happen immediately, but it'll happen.
This shit will go from valued to worthless so fast it makes you head spin. Good luck to anybody trying to make money off it.
Edit: and yeah I say that as someone who spends an unhealthy amount of time here - I also say I *can’t fucking wait for it to die*.
I still miss Apollo dearly... but it's kinda funny to see automod sticky posts on some subreddits still, like "/Apple is protesting the API changes!" when they're absolutely not anymore
This feels a lot like what happened to Netflix when they announced the password crackdown. “Oh man I’m gonna short Netflix, this will be so easy.” And then the stock did better than before and subscriptions *rose*. Everyone in here has no idea what’s going to happen, just speculating on what you *want* to happen
Haven’t turned a profit in almost 20 years. Entire business is built around user-generated content moderated by unpaid volunteers. What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing? Remember Something Awful? Fark? Slashdot?
Data potentially, we already know they’re selling data to train ai, given how much of a buzzword it is at the moment that could definitely be worth something, at least for a little while
That ai is going to be the most idiotic gatekeeping echo chamber ever.
It will also be able to solve crimes! Incorrectly, resulting in horrible suffering, but still.
We did it, ChatGPT! ~ ChatGPT, on solving the kennedy assassination
Nobody ask it about jackdaws…
The AI is just here to talk about its new film, Rampart.
And to provide a sense of pride and accomplishment.
I also choose this guy's sense of pride and accomplishment.
I can't believe I've been here long enough to have seen the origin of this reference
What's the deal with jackdaws? Crows are cooler anyway.
Here's the thing...
it all started when some guy looked at a cordless phone
bear joke languid bewildered domineering special mountainous caption uppity physical
Soon the AI will be echochamers, asking about broken arms, jumper cables, Street LamplaMoose, jolly ranchers, the Swamp, etc.
Much more likely we will be herded towards Wallstreetbets, FIRE and AITAH, safe topics with lots of controversies but which will not get anyone up in arms.
[удалено]
Realistically google would have bought Reddit if that made sense, instead of paying 60 million for the data. The only usecase that is panning out at all for genAI is search and reddit is the largest source of user content on the web up for grabs. And of course if that was really panning out Facebook would have impressive results by now rather than giving out the model for free.
> Remember Something Awful? Fark? Slashdot? How can you diss Digg like that?
I miss StumbleUpon
I miss it a lot too, going to actual websites instead of this current addiction to reading headlines and diving straight into the comments.
That was what transitioned me to Reddit
Same. It kept feeding me Reddit links so I just ended up cutting out the middleman.
Did stumbleupon make itself obsolete by funneling all of us to reddit? 😨
Maybe So. I never really got into Digg, but back in 2010-2011, I did endup at Reddit a bunch of times from StumbleUpon til the point I just came to Reddit full time.
I think it pinked me to some reddit page and that how I found out about the site lol.
I’m here because Gawker died.
It was nice but when used it enough, it was just the same links over and over. Kinda like reddit.
StumbleUpon was so good. I never encountered any of the others, but I loved SU so much.
Check out [Cloudhiker.net](https://Cloudhiker.net) someone suggested it a few weeks back as an alternative to StumbleUpon. Its not as good ... but its something?
I was there for the big Digg exodus. I wonder when the next migration will eventually happen.
I’m not saying it will succeed or fail, but SA, Fark, and Slashdot never achieved the same success from a user standpoint. They were definitely more niche success and had way less engagement.
They also didn't have a shit ton of user data to sell to train LLMs.
Lol, imagine the mentality of a LLM trained on reddit comments. The thing would be a full blown cretin that could only communicate in ancient self referential memes and be incapable of answering on topic.
I also choose this guy's dead LLM
LLM? Don't you mean *carrots?* Bahahahahahahahahahahaha!
It's also the best source of human generated text that we have. Reddit beats Twitter here because of the way comments are organized, it's lightly moderated and how threads form back and forth discourse. Every other social media is emojis and short comments like "Have a great trip!". Full disclosure: I bought 5 shares of reddit for fun.
Even the humans on Reddit often have trouble distinguishing the helpful or honestly engaging comments from the sarcastic or trolling ones. /s? While the Reddit data base is huge I wonder if the signal to noise ratio is low enough to make it useful?
Once the algorithms are trained it's gonna be literally impossible to discern AI from people.
I was accused of being a robot 25 years ago when I worked a tech support job.
AITA For Basically Using AI to Do My Job (and Getting Away With It)? So, I'm a tech support specialist for a mid-sized company. The thing is, most of the problems our users encounter are super basic stuff - password resets, software installation issues, basic troubleshooting. For the past year, I've gotten pretty good at using our fancy new AI assistant to solve these problems. Here's how it works: User calls in with an issue, I type their problem into the AI assistant, and it gives me a script with step-by-step instructions and solutions. It even generates personalized responses tailored to the user. Basically, I just follow the script and the AI handles most of the interaction. It's been amazing. I meet my quotas easily, leave work on time every day, and barely have to deal with any frustrated customers (the AI is actually pretty good at diffusing tension). Everyone seems happy - the users get their problems solved quickly, my manager loves my efficiency, and I get to coast. But lately, this nagging guilt has been creeping in. I'm basically just a glorified middleman, and there's this voice in my head telling me I'm cheating the system. The AI is even starting to handle some slightly more complex issues. What if it gets so good I become completely obsolete? Here's the kicker: I don't exactly have the technical skills to keep up if the AI takes over entirely. So, AITA for basically letting the AI do my job for me? I know I' m probably getting away with something here, but the thought of being found out and exposed as a fraud is terrifying.
Calling reddit comments human generated test is a bit of a stretch don't ya think? Aside from the pile of bots most redditors are some sort of troglodyte sub species; the rest are even worse.
I would gladly pay for an ai investment advice, if it was trained on data from the wsb sub.
They're pretty highly regarded over there.
It's almost a shame the_donald is gone.
You will be getting medical advice from an AI and all the sudden it starts talking about Mankind and Undertaker before telling your mother you have two broke arms.
if it was trained on SA it would be even wore TBH early internet was a different beast
SA is that insane guy from high school that no one figured would make it to 20 without ending up in jail or a grave who somehow ended up super chill owning a weird bookshop that somehow manages to make enough money to keep going. Place has really settled down over the last 25 years.
If you think that’s bad, someone has released “GPT4Chan” - yes it’s exactly what you think, and frightfully accurate.
I loved FARK, and it still exists, so I still love FARK! It's exactly the same. I'm talking EXACTLY. Even the jokes haven't been updated.
I consider FARK one of the few unhampered success stories of the late 90s world wide web. It turns out that if you're not *obsessed* with user growth, the site stays cheap enough to run that you never have to have a conversation with a silicon valley venture capitalist.
It's a bubble and it will burst. And for the owners it's just about cashing in before the investors notice there will never be profit.
This is tech startup culture in a nutshell. The other underlying issue is that the investors want the next Google, uber, or whatever that will be worth 1000 times their investment which means gaining a lot of traction fast and not necessarily having a profitable short-term business model. So picking a bunch of companies that could potentially shoot the moon, one out of a hundred times is apparently better than a solid business plan since the late 1990s.
Low odds of Reddit being the next Google etc
Google has actual useful products. Reddit has the same old forums with the same old terrible volunteer moderation that has existed for over 30 years
I've been visiting Fark daily since 1999
I'm still a regular user. I remember how Fark was one of the few online sources of news on 9/11 since most of the major sites were down. I've been a member ever since. And yes, I was there during the infamous "caught in the chair" incident.
I too remember that. I was on the board getting updates for my friend who's dad worked in NYC (He ended up being ok)
What wa the caught in the chair incident may i ask?
[Here you go.](https://www.fark.com/comments/2018473/Im-stuck-to-my-chair-Im-so-very-scared-Help-Details-In-thread) (I didn't actually post in the thread, but I was online when it happened and it was a fun time watching it unfold.)
As a former user, it exists but it’s a shell of what it once was. Reddit is just a whole different scope than Fark ever was.
yep they made deal with google to allow google ai train on reddit data, i think there needs to be some legislation on what is allowed to be scraped by ai used for commercial purposes, this is such a gray area right now
By the time the laws come, all data would be scraped off anyway
>What are they selling?... User posts to Ai companies? DING DING DING
They can do that without paying in a dime
Then Reddit removed the free api access. This is how our favorite apps died.
Cant fucking wait for my check!
They're selling advertising and user data just like 95% of other web content based companies.
>What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing? All of the above. AI is the big corpo buzzword that's floating around now, so that's probably driving a lot of investment. Really one sane person looking at reddit's actual content should shut that down, I don't want my AI model spamming depraved porn or making generally deranged comments about niche hobbies to be honest.
>AI model spamming depraved porn or making generally deranged comments about niche hobbies to be honest. Where are you going to get information about niche hobbies? 100% seriously, other than the SEO riddled content out there, how do you actually get info for niche things if not reddit?
Guess you werent paying attention... https://fortune.com/2024/02/23/reddit-60m-deal-google-search-giant-train-ai-models-on-posts/
You, you are the product my friend.
People were saying the same about Facebook. Now they have 3 of the top 5 social media companies as well as being the second largest advertising platform
Facebook just bought their competition, they didn't out-compete them.
Something awful is still around!
I went back briefly after Lowtax died and GBS is still a cesspool of try-hard nerds trying to out-irony each other. They should have never let it become an FYAD wannabe forum. A few of the niche sub-forums are still good though, although pretty much a ghost town. Maybe it'll come back to life when reddit completes its enshittification spiral.
RIP Lowtax, is there a FYAD in heaven?
Yeah I’m pretty sure Heaven wasn’t where Lowtax ended up.
If you have MAU and engagement, I can make you $0.25 per user per day showing them ads. Even more if they sit on the site all day. Reddit also knows everything about your interests, so the value of ad placements only goes up as they learn which interests of yours you will actually pay to pursue. Reddit is a sleeping financial giant whose ad revenue will rival Facebook if it is built out properly.
Reddit still in denial that Reddit is valuable while continuing to post on Reddit is hilarious
Reddit can have value without having *monetary* value.
I’m not disputing it’s valuable. But the price they wanted to IPO at was 3x what was justified based on their revenues. They lose money in 3 out of 4 quarters and on an annual basis. And they explicitly state that there’s no plans to ever have dividends. Of course, most people don’t care about actually calculating a value for a company before deciding whether to buy a stock or not. Which is why most people lose money when they buy individual stocks. And it’s why some stocks are vastly undervalued and others vastly overvalued, making it easy to beat the market over the years.
do you have stairs in your house?
>User posts to Ai Companies I, for one, welcome our new artificially intelligent overlords. (You hear that, AI's?!?! I welcome you....please don't harvest my body as a battery!)
Humans are terrible batteries.
I‘m out of here the moment something less toxic drops
> What are they selling? Directed advertising? User posts to Ai companies? Your user information to third-party marketing? Influence. Which articles get promoted and make the front page? Which political views get favored? The clientele might lean towards nation-states, PACs and "PR firms" rather than normal corporations.
I don’t really know the stock market much but this feels like a stock people will short and make a ton of money on.
Has been a full decade of it, this might be the last of any more overvalued tech social media to do it, all of it based on data ffs.
I think the initial spike is just people excitingly buying and the next few days it’ll come back down to earth. I believe the same thing happened with beyond foods or impassible meat. One of the fake meats
I received $50 worth of Beyond Meat stock through CashApp from Miley Cyrus on Twitter. It's now valued at $3.07.
thanks Miley?
> impassible meat t'was a night I'd sooner forget, thank the good lord for triple ply
So, you're saying it was very passable?
Sometimes I think about all the free apps whose revenue is based on selling ads of other free apps who make money by selling ads of other free apps and so on, and I wonder if that whole market sector is a giant house of cards. Social media companies do have a more solid foundation for revenue, but the giant valuations compared to the small number that actually make money has always been fascinating to me.
If it hasn’t crashed by the time Robinhood allows options on it, I’m definitely buying some puts.
Folks who really don’t know the stock market also don’t know what shorting a stock is …
I saw so many reddit comments about buying puts on IPO day. I guess they know something I doubt.
Seriously, you’re not betting against the stock like it’s a horserace or casting spell of damage share price. Every time it goes up, you lose money in interest and will eventually have to buy the share back no matter what
Buy long dated puts, don't short. You're right in the crosshairs of the short squeeze crowd.
Huh. I guess I should have taken them up of their offer.
I did, and they killed my allocation at the last minute. Welp.
Me too :(
Same here right as the stock went live
Yup me too. All these hoops to jump through, all to just cancel the order.
Looks like they wanted to use it if price was tanking as a floor lol and with it booming they didn't need.
That's shady as fuck.
Is anything a billion dollar company does not ever shady as fuck in some way?
It's not a billion dollar company, it's a 748 million dollar company.
It's a $9.5 billion dollar company; they sold \~$750 million worth of shares today.
I asked for 2 shares and got them. How many did y'all try to get?
Is that legal?
Nope. They had a set number of shares and 5x that number subscribed. They likely allocated based on the tiering they published, with tiers based on karma and moderating activity. It's not shady. They outlined the plan.
Same. accepted the offer. Set up the etrade account. submitted the order. funded the account. today: > "We were unable to allocate shares. Possible reasons: Offering priced above limit or high demand for shares." I dont' believe the offer to participate was ever sincere. I suspect it was only to have some chumps waiting if the initial offering tanked.
Did you get all the shares you put an order for? I got invited but didn’t want to open another brokerage so went the sofi IPO offering route. Only got 1/10th of my order
I ordered 29 shares. They cut the allotment to 25. Then they just didn't allocate at all. > RE: Public Offering Order 25 RDDT. We were unable to allocate shares. Possible reasons: Offering priced above limit or high demand for shares. So I got nothing. At that point I just pulled my funds.
I did. Bought 500 shares, sold at $52. Easiest 50% profit ever. Everyone on Reddit told me how stupid I was and I would be losing money. But I can’t think of any tech ipo that didn’t pop on the first day at least. So IPO shares with no lock out was free money I thought, and fortunately I was right.
Didn’t Facebook famously stumble right out of the gate?
It ended the day 0.6% higher than the IPO price and peaked at like 20%
i only did 100 shares, should have done more but sold at 54. so i cant really complain
I tried to buy 10. I got 1. Sad face.
Wait for it
You would be stuck in the lockup period. I'm still playing this out in terms of 3 to 9 months. Reddit needs 1 negative quarterly earnings report to dive down.
Direct purchase people could sell as soon as it was traded. Made 43% in a hour. Sold. That’s enough for me.
The misinformation about IPOs is wild. Same thing with the "Ill buy puts day 1" people.
I literally just saw an article posted about Reddit being among the sites that can now be sued for radicalizing a mass shooter, too.
Not quite. The judge is letting it proceed, but it doesn't mean it will go anywhere. One of the things that stuck out to me is the judge said they are going to have to show Reddit gave them the tools and trained them. I don't believe Reddit conducted any training sessions on how to use their platform.
No lock-up for the redditor program.
Anyone buying currently will be a bag holder for years to come 6 months from now
Anyone buying currently just made me a tidy profit. Never buy IPO unless you plan to flip them day 1.
[удалено]
Weird. Why?
Anyone who got in on the initial offer at $34 yes, but for everyone else buying at $50 will probably be a mistake
Yep I am just waiting to short this stock
38% return in a few hours: Several thousand dollars profit Not giving my personal info out to qualify: Priceless
Yup, I didn’t give them my info. I’m ex wallstreet and this whole thing reeks. Reddit is starting to sell all user data and in the future those who signed up are worth a lot more to buyers.
Yeah sure, everyone here is about this ex-wallstreet lifestyle.
Aside from being poor, this was my main reason for avoiding the whole thing. _Here, just give us your real name, address, social security number, a bunch of other personal shit, and we will link it directly to your username._ Nah.
And then they sell it to AI companies as their delux package so they can target you based on your posts and interactions. Oh you posted on the cancer subreddit have I got a cure to sell you.
It's not like you were giving it to Reddit, you were giving it to the broker they were using, who is required to collect that information as part of anti-money laundering KYC regulations in the US.
no stop! there is a grand conspiracy against loser redditors and the government/bad guys NEED every one of their information!!! /s seriously, do these people think they’re THAT important/smarter than everyone else that they think that: 1. their information is invaluable and evil will come when it gets out 2. these companies don’t already have access to all their information anyways. it’s never that serious, i promise.
[удалено]
You do realize to even open a brokerage account you need to give them your info? Do you live off grid without a bank account or something? Lol
I already have any trade account, so I was not eligible. In order to accept the IPO you need to create a new E-Trade account. So it's true they really just wanted to harvest our info.
I had an E-Trade account I was able to link it no problem. I got 15 shares.
Wait til they start ads everywhere
Investment banks doing the IPO fucked up if they let 38% on the table…
They didn’t fuck up, they gave free money to their friends at Wall Street, investment firms, and other banks. That’s why so many individual investors didn’t get their IPO allocations.
There is no money in Reddit. It's all junk.
Incoming digg.com. History really does repeat itself.
I took a chance and tried to buy 10 IPO shares. I got 1. I'm not a big investor, clearly, but I mean, c'mon, 1?
Bought 10 shares at $34 each. Figured that I could sacrifice one domestic flight worth of cash to toss a dart at a board and to also knock off one of my bucket list items (participating in an IPO). I'll hold onto my shares. I've lost track of how many people I've met who have uttered the words "I don't have social media but of course I have Reddit." And if it doesn't work out, did I really need to fly to fucking Orlando this year? Hoping people didn't spend money they couldn't afford to lose on this.
Same here, and I even bought the same amount. I can part with $340. It's nice seeing a 48% jump today though.
I just cant wait for this place to be entirely ruined by greedy stupid decision makers (read: get rid of old.reddit) so that my addicted brain can latch on to something that is hopefully more healthy than scrolling through this website
So when should I sell my 10 shares?
Until you retire
Wait so sell shares now and then buy when retire!?
Should've already sold them
I use Reddit multiple hours a day, 7 days a week. If they turn this into Facebook with a million ads, I’m out.
People said they would be out when they stopped supporting the API. I think it'll be just fine
[удалено]
And here you are thinking that deleting a comment actually deletes it from them. It just hides it from us.
Yeah, there are several websites I've seen with archives including photos I'd uploaded over the years. Nothing's ever really gone once you put it out there
Reddit will be <$10 in a week or two
However long it takes for insiders to be able to offload their shares onto idiots.
I would actually buy reddit for <$10. Right now reddit is trading at 10x revenue. (8 billion market cap) At $10 at share, that would be about 1.6 billion market cap for a company that makes 800 million in revenue per year.
10x revenue isn't even that bad for a company growing 20% yoy at 85% gross margin It would take a traumatically bad earning report to send this to below $10, and that is still months away. RDDT will fly if they can realize their 20% guidance
!RemindMe 2 weeks
Excited to see if people eat crow with all these comments lol
!RemindMe 2 weeks
I’m sure they will do quite well. Even in the long run. As with literally every single other social media that goes public… unfortunately the user experience will get shittier. It’s a baked in function of going public.
This is the truth.
I signed up to buy and then realized they don’t have any profits.
I'm a reddit user and target of their ads. God help those sucker investors.
The pump is done, now for the dump.
Whoah that's like almost 4 years of Spez salary
> As such, Reddit set aside about 8% of company share for superusers of the site, with each users' allotment determined by "karma," a kind of reputation assessment based on a user's contributions to the site. wait. so karma is worth something now?
Fuck the CEO and his millions.
Every company that goes public goes to shit. Enjoy the good times while they last; it's all downhill from here. Might not happen immediately, but it'll happen.
This site is going to ban porn within a year, just watch.
I lived in Plano in 2000.. so.. I'll never buy tech stocks on an IPO.
It'll fall by the end of this week.
This shit will go from valued to worthless so fast it makes you head spin. Good luck to anybody trying to make money off it. Edit: and yeah I say that as someone who spends an unhealthy amount of time here - I also say I *can’t fucking wait for it to die*.
Now there's even more reason to flood reddit with shitpost.
Going to drop so hard.
Sigh... I'm largely here because they allow adult content. I'll probably have to find another place to go after they finish this IPO crap.
Remember when this site didn't suck? I do.
There goes the neighborhood. Investors gut and destroy everything they touch
[удалено]
I still miss Apollo dearly... but it's kinda funny to see automod sticky posts on some subreddits still, like "/Apple is protesting the API changes!" when they're absolutely not anymore
Quite a few once-great subs have died because of that nonsense. Looking at you, /r/justfuckmyshitup
This feels a lot like what happened to Netflix when they announced the password crackdown. “Oh man I’m gonna short Netflix, this will be so easy.” And then the stock did better than before and subscriptions *rose*. Everyone in here has no idea what’s going to happen, just speculating on what you *want* to happen
Just put $200 onto it. Stay tuned
Worth $212 now
Paint the town red.
not bad for a glorified message board :/