this post was submitted on 08 Jun 2023
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Technology
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I don't get what his angle is. Is it just dumb ego or am I missing something?
He's selling and he's going to point his investors to his AMA comments.
Not sure what his responses are going to do for investors' confidence, given that they mostly show a complete lack of understanding of his userbase, and the reaction to them implies that he's trying to sell them damaged goods.
Again anything public facing is a lie. The rich investment firms know that it's designed just to try and placate an unruly userbase. Now if something comes of it? Then they'll care. If the blackout happens I wouldn't be shocked if there's wholesale usurpation of the mod teams to reopen the big ones.
e: typo
I fully expect that subs with major frontpage presences are going to get taken over by the mothership and reopened almost immediately. They may even be able to find some poor saps to mod them, at least for a couple weeks until they realize that's a full-time job. But the smaller subs are what long-time and power users end up diffusing to and what keeps them engaged with the site over time, and those are likely going to be dead or zombies shortly. Any investor putting money into Reddit for any reason other than short-term trading or hoping to be at the front of the line to pick over the corpse in a few years has failed to do their due diligence.
Now is the perfect time to short reddit stock :o
I think the way I see it is that the vast majority of Reddit users have no idea that any of this is going on, and wouldn’t care if they did.
So from Corporate’s perspective, all they have to do is deal with a few weeks of whining and teeth gnashing, before everything calms down again and they can get on with whoring Reddit out.
Ultimately they’ll end up back in the black again, and making enough money from the IPO to not give the tiniest rats ass about any of this. They’ll sail off into the sunset on a fleet of expensive yachts, and never give Reddit another thought.
The people who don't notice are probably not the people bringing the content or moderating the subs though.
It's all corpspeak. It means nothing except to lie and gaslight users into staying so he can cash out.