- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
Summary
Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.
Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.
Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.
Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.
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After the Inauguration, they had a bloodbath in February, permabanning many long-term, high karma accounts like mine (12yrs, 900K+).
These were the members who built Reddit into what it was, and after over a decade of high volume posting without getting banned, suddenly all of us made comments that earned permanent bans in the same month. Yeah, that’s plausible.
Now that they’ve ejected many if the members that made Reddit a lively place to debate, they’re stuck with novelty accounts, puns, bots, Russian Karma Farmers, shitposters, trolls, and general bullshit. I just went over to read some subs I love, and literally the first post I read was complaining about how long they had to scroll to get past the stupid puns to get to the real discussion.
Its been getting increasingly bad for a long time, but apparently it’s gotten far worse lately, now that they decided to get rid of the red meat and go vegan.
I like Lemmy, but they don’t have anything close to the active guitar forums that Reddit had.
Can confirm—I was a member since 2010. Got banned for logically going after MAGATs. Apparently, that’s not allowed anymore. What’s happening to this country—that people don’t even seem to have the cognitive capacity or basic mental equipment to recognize the freedoms being stripped from them in real time—is beyond disillusioning. It’s disappointing, devastating, and honestly hard to watch. And seeing younger generations, raised on flashing lights and internet brainrot, now stepping into adulthood? Oof.
I still have no idea why I got permanently banned. The interestingasfuck subreddit said I had multiple violations across accounts—something vague about participating in the Trump subreddit. Apparently, if you so much as post in that subreddit—whether you’re agreeing with them or talking shit to the MAGAts—then go back to interestingasfuck or any other sub with the same rules, they’ll permaban your account. And not just that one—they’ll ban any new accounts you try to make too. So honestly… I guess I DO know why I was banned, but compared to the vitriol I’ve seen on there, mine was not warranted. I’ve even appealed. Fucking hate Reddit now. Cowards.
Apparently all you have to do to get banned from Reddit these days is to hope Musk’s penis implant explodes and burns him to death from the dick up. Worked for me!
Yep, someone in another sub once said “I hope your plant dies” and their whole account was permbanned for “inciting violence”. Against a plant. Hysterical. That site is cooked.
I get banned once for saying I wanted to see justice done. “Inciting violence.”
You were banned because you were obviously a person.
Have you seen the comments lately? Most of it looks like AI bots are replying to AI, upvoted by other AI bots.
You got me really curious so I prompted ChatGPT to give me a redditor style comment that’s anti-Trump followed by another far-left redditor’s reply to it and this is what it gave me:
Original Comment (Left-Leaning Anti-Trump Perspective):
“It’s honestly mind-blowing how Trump still has a cult following after everything. The man was impeached twice, incited an insurrection, and openly grifts his supporters with fake fundraising schemes. And yet, somehow, people still think he’s their ‘savior.’ The cognitive dissonance is off the charts.”
Far-Left Redditor Response:
“Because the system is fundamentally broken. Liberals act like voting blue is enough when the entire establishment—from corporate Dems to the GOP—is complicit in maintaining capitalism’s stranglehold. Trump is just a symptom of the rot. The real solution isn’t ‘vote harder’; it’s dismantling the system that enabled him in the first place.”
^ – this seems to be disturbingly accurate, I can only imagine this being produced at automated scale at this point.
I don’t care about being banned and I never read replies or check my inbox because it’s the internet and I don’t care.
Same with offmychest. Banning people like that is also against reddit tos but reddit couldn’t give less of a shit.
Its a really weird place during elections, they’ve basically banned anyone with the opposing view on enough issues that its a full blown echo chamber. People then go crazy during elections trying to get their guy to win and the echo chamber grows exponentially.
lol
Good riddance
Good, fuck Reddit
Good, Reddit treats its users like preschoolers. If you say something even slightly against their rules, they ban you.
Just like Lemmy admins do!
Let me know when spez is living under a bridge, so I can go piss in his cardboard-box shelter.
didn’t we post this like two weeks ago, it’s gonna sit in my feed for another week
Plunge baby, plunge.
Reddit is not coming back. I know when a site is dead
Yep it’s been slowly declining for years. There’s no coming back from what a shithole it now is
God I hope you’re right. Nazi Spez and his chud admins are gonna be shitting bricks when they realize elon isn’t bailing them out.
Elon just sold Twitter to xAI for 33B, Reddit bastards can probably do similar. Some dumbfuck at Google or Microsoft will probably buy it.
xAI is Elon’s AI company. I don’t think the value at which he is willing to sell his one company to his other company applies much to anything outside of Musk’s companies.
In fact him selling it to himself shows the price is probably inflated
Link to this? There hasn’t been anything in the news about such a sale.
plenty of news about it. but it is just elon giving his company to another company. Like facebook to meta or google to alphabet.
The funniest thing about it is, he valued twitter at 3/4th of what he bought it for.
https://www.bbc.com/news/articles/ceqjq11202ro
Other shit has been bigger news.
Thanks, I’ll give it a read.
We said the same thing about Facebook 15 years ago. Look at them now. Still twitching proudly with the vigour of youth while their teeth are falling out and their flesh is rotting.
Bye bye…officially deleted my reddit account. Enough interaction on here I can 100% make the plunge now. Sad because I have been there so long. But I rememeber when digg died, and its time to move on.
I was there for diggs death. I was a young college student.
I held off on Reddit and enjoyed a lack of that style of addiction for like 2 years. Then slowly reddit consumed me.
I haven’t been back for anything but porn since the API-pocalypse.
How’s Lemmy porn so far? I keep this account SFW
It’s getting better. Not nearly as much content but also not nearly as much only fans click bait.
So it’s ok, but reddits quantity has Lemmy’s quality beaten.
“Run, motherfucker, run”
-snoop dogg
Burn baby burn, disco inferno
Short the dip .
Lets take a platform driven by community participation and ostracize community users. Yeah that’ll work out well.
Reddit getting Digged and me likey.
That is a deep cut reference. They are relaunching as an AI play.
That will bring back the people who were providing the free content.
(/s on the last part)
Seriously. I remember Digg. My life’s social media path has been slashdot->digg->reddit->lemmy.
I was there! I saw it all! <shakes cane>
Yep the train from being offered early access to their IPO as a “power user” to a permanent account ban did not take long.
So here I am
They are counting on the dark internet theory to keep up the appearance of engagement.
Fuck them.
yep they will, it’ll be grok running 99% of twitter and 95% of reddit in the next 5 years. (and those numbers are probably already near there)
Aww, did Spez trade the family cow for some “magic” beans?
Good luck rebuilding the farm now, buddy.
My parting message to Spez when I changed all my posts was, “Enjoy the IPO asshat!” While I wish I could update that message, it’ll still do. xD
hi i am the human male, called spez, i was birthed from a alien space ship , and hatched from an egg and sent to earth to manipulate the populace.
I remember the early days of Reddit when it really felt like a community project. Back then, they had the goodwill necessary that Redditors would have personally financed a chunk of the costs of running particular Subreddits. Not anymore. That goodwill is gone.
something something live long enough to see yourself become the villain.
The censorship going on there is crazy. I understand a site needs to tamp down on violent rhetoric but they crossed the line into absurdity. They banned me for calling out the racism in the GOP platform.
You sound like a far left lunatic. Welcome to Lemmy!
Hey that’s why I’m here too lol
Same. 11 year old account got banned for saying something. I’m not even entirely sure what it was. They deleted it and gave me the finger.
Fine with me.
I had my account since the pandemic and I got one 3 day ban for “inciting violence” a few weeks ago and they didnt tell me what I actually did. It was lifted so I moved on and kept following the rules. Then a day after the article about spez caving to musk came out I was given a perma site wide ban for “inciting violence” with no working link to what I actually did. The admins wouldn’t tell me either. I assume it’s because of my activity in left leaning subs and my comments calling Musk a shithead and saying his toy cars are garbage.
They’ll sweep ban entire comment sections of a submission they don’t approve of and they’re using AI to do it, so there are lots of false positives and dubious reasoning. They’ll send you a message lecturing you on your behavior but delete your comment so you’re left with only a vague idea of what they’re referring to.
Before they used shitty AI, they just hired autistic mods who would exaggerate anything into a bannable offense of some kind.
And they wonder why their stock is tanking. The only outcome I see for reddit in it’s current state is being bought out by Google and turned into a telemetry farm.
I got a 15 year old account banned for logging in via tor… they run a tor website for tor access on the tor network lmfao.
But joke aside, socialism and Marx aren’t bad words around here. ☺️
Common Lemmy W
Marx never bathed and had boils all over his body
Typical wook beggar
I want to see the comedy-of-errors timeline where Luigi beats the rap based on a technicality or jury nullification…He finally gets out of jail…Then he immediately does it again.
Thanks! I came from Reddit too. Looking for a safer place to stay in touch with the community. Are we allowed to say the name of Mario’s brother here?
You can not only say Luigi, but you can also say that you wished it had started a trend.
Yes
Just keep in mind, “it’s called the Fediverse because it’s crawling with Feds.”
Don’t get stupid.
Nice lol. Feds love the avg worker, no way they giving up my tax dollars.
The basic rule is that you can say what you want (and people can call you what they want for it!).
It would be polite to self moderate to an extent. No point getting the instance owners in to legal hot water. That’s a massively higher bar than Reddit has set however. Chatting about and admiring Luigi is completely fine.
Aldo?
I have to admit I never thought they would punish users for simply upvoting content that went against their corporate overlords’ interests. True thought policing.
Reddit. Free speech*
*only if your free speech aligns with our interests.
they are tamping down on the wrong kind of content, anything that disagree with israel, luigis incarceration, or elon and trump is an auto ban.
Spez fundamentally misunderstands what Reddit is and who it belongs to: the people making the posts and providing the content. The more he alienates the users, the less value Reddit will have. He’s shot himself in the foot and he’s getting ready to fire again.
Oh he does, he just doesn’t care.
The line goes up, then you sell out to some anticompetitive behemoth to eat before it implodes. That’s how it works.
It’s not just the AI bubble, it’s a distinct lack of faith in Huffman and as a CEO. He’s not forward-thinking enough, he hasn’t understood where the company’s value lies, and he’s ridiculously distracted by the latest shiny tech things (reddit NFT avatars, reddit crypto, reddit AI).
I fully expect Google to buy reddit at some point, exclusively harvesting all the info for their search engine, all the content for their AI models, and all the submission/view/voting data for their user profiles (what are you interested in, what do you think of these concepts, where are you connecting from, here are more ads we can send you, and these are arguments that might sway you in purchasing or other decisions).
If Google weren’t under antitrust pressure, I think that would have already happened.
In many ways, a Google owner would probably make Reddit better for a while. Google cares a lot more about the data people are generating than making the site itself profitable. They could afford to run it at a loss for years, whereas Reddit investors want to ensure they make money soon.
But, I’m glad it might not happen. Then again, who knows what will happen to Google and antitrust in the Trump admin, where bribery is now perfectly legal.
Tends to happen when you ban all of your users
He listens to swatsticars guy why would any care any more
