IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a “private company” (it belongs to me, you, and that guy) to a “public company” (it belongs to anyone who pays enough for the shares).
The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.
Who will be the sucker that buys a site full of bots reposting content for other bots to “discuss”?
Vulture capital. They don’t really care about what they’re buying as long as they get some profit out of it.
That would require reddit to actually be making a profit…
Or if Reddit can bullshit that the site can be profitable “soon”.
It’s gotten really bad. Since the protests a lot of subs seem to be just gone and a lot of the old subs that are still there are mostly just bots reposting top posts, with a bunch of bots reposting top comments. Someone made a bot who tracks those repost bots and calls them out (which Reddit could do from within their backend automatically), and some submissions had like 60-70 percent removed bot comments. And of course all of them had a bunch of gullible idiots talking to them.
Interesting, any link to that bot analysis?
Lots of little suckers, as opposed to any big single one. An IPO means its going to hit the stock market. You could buy a share, and then go to a shareholder meeting and yell at them if you wanted. Theoretically.
That reminds me of this super genius billionaire guy…
It’s not even good for support anymore. Anytime a search engine gives me a Reddit link, at least 10% of the comments have been deleted. The best information has been gutted.