You must log in or register to comment.
Lol it’s dropping even more? What is causing it. I would love to see some of the big data harvesters collapse.
It’s pretty wild watching AI destroy it’s own mother.
That was always the plan.
1: Steal all the data.
2: Destroy the data sources.
3: Rent access to the data that only you now posses.
We’re going back to Hunter gatherer and oral traditions.
Honestly? Probably for the better.
Shaka, when the Reddit fell.
Not soon enough!
Sounds good to me.
It’s funny you say that. I work in the tech sector and I am learning how to hunt this year. Found a mentor for whitetail hunting. I go next weekend.
I quit IT and am going into carrying things and putting them down elsewhere.
Good luck! I went as a teenager and while getting a buck is an absolute rush, I really don’t enjoy venison, although I may have to overcome that in the coming shitstorm…
Thank you. I’m a fan of venison. I definitely understand why a lot of people don’t care for it though. I’m very excited about my trip.
Wikipedia being non biased aggregate of facts will be made illegal, all the rich bastard will aim cannons at it
I get what you mean, but there’s no such thing as unbiased. The very idea is a trap that facilitates accepting implicit biases uncritically.
Same energy
If you don’t shut your mouth mother
I’m gonna get your head off
And feed your girls to the dog“Homicidal Maniac” – by Armageddon Dildos.
Vibe indeed.
The oral traditions:
this shit ain’t nothing to me, man
the bugs are back.
its just capitalism at work full throttle with GOP at the steering wheel
The worst social media site… in the wooooorld.
Jean-Ralphio!
That’s when they perma banned me, your welcome
Carrying the feed 💪
Zoom on how the stock market liked the decision to kick out all the lurkers:
also the new reddit UI, if you arent using any of the apps like redlib, or a reskin extension, is very cumbersome and unsable.
Not to mention reming the ability to view /all
Redlib is also now unstable with rapid depreciation of rss feeds and old reddit. New community forks approach seems to be webscraping or using cookies like nitter.
Russia gets its biggest refinery blown up, Reddit stock tanks, I did some coke, this has been a great Halloween.
It sucks to suck, Spez, you greedy pig boy.
Can I donate my old account to some bots?
I randomized and deleted all my previous comments and posts with a paid app. Boy did the mods and automods HATE that. The gall they had to call it spam, when it literally just says this comment has been randomized and deleted. And it was 13 or 14 years of thoughtful contributions. Like Reddit owns my contributions. I’m autobanned from most of the major subs for redacting all my content.
You love to see it
$17B market cap
P/E 21.5
Not really, no
Explain it to me like I have not money invested in anything other than real physical property.
It means investors as a whole are willing to pay 21 dollars for every dollar of Reddits annual earnings.
Reddit is still increasing it’s yearly profit by about 50%, which is a lot. Reddit stock p/e was above 50 because investors were more confident in the stock price continuing to rocket up.
Now investors are concerned about stalling user growth, decreased user engagement, Google’s AI search results cannibalizing ad views, and reddit requiring login.
If you think that Reddit will continue making money about the same as they have been, then 21 means that the stock is a bargain, and you should buy it.
If you think that Reddit’s revenues are going to drop in a way that is not reflected in the current accounting statements, then the P/E is not an accurate measure of value, and you should stay away.
21 is not a bargain, look at bank stocks if you think a 21 p/e at stable income is a bargain.
The US stock exchange is completely inflated, but the inflation keeps new money from across the globe flowing back. As the 7% annualised gains in S&P500 are among the top of the world, but the entire growth is based on a perception people will continue to flow money into the ponzi scheme rather than underlying value.
Novo Nordisk, trades at 9.78 P/E. That’s a stable profit stock.
Barclay’s, trades at a 8.32 P/E. That’s a stable profit stock.
American stocks are just inflated through the fucking roof.
Wait Reddit is profitable? Since when? Is it all AI money?
Since they started scraping user data and selling ads
$17B can buy many peanuts
$17B
How many reddits is tha?
One reddit of money.
It’s a whole lot of Reddit Gold, I’ll tell you that much
Stock fundamentals mean nothing nowadays. Tesla at one point had a P/E ratio around 300, and it just kept getting worse.
Tesla at one point had a P/E ratio around 300
They’re currently at 433.
But the S&P 500 average is around 23-26. Historically, in the 16-20 ballpark.
Reddit is fairly valued, even if it’s administered by a bunch of assholes.
That’s what I mean by worse.
A decade, and more, ago it was taught that a company with a P/E under 15, with a few other fundamentals checked, was a good investment for a growth stage company. When that P/E went above 40 it was time to evaluate if selling is needed because the stock is over valued and due for a correction.
None of that matters anymore.
A decade, and more, ago it was taught that a company with a P/E under 15, with a few other fundamentals checked, was a good investment for a growth stage company.
What? No. It was a good investment for a stable blue chip company.
Growth stocks are always going to be on the high end. 30-50 p/e is very normal, especially with a bullish sentiment behind a growing company. 100 p/e wasn’t outrageous if a company was growing rapidly.
What’s surreal about firms like Tesla is that they’re already functionally blue chip. They’ve done their growth phase and largely saturated their markets. But they value as though people anticipate Tesla to eclipse Toyota in the next twenty years, absent any evidence to that effect.
None of that matters anymore.
There are a few outlier firms outperforming the pack - the MAG7, specifically - that are trying to claim growth stock status on the grounds that tech infrastructure consumption is preparing to increase rapidly.
Whether that pans out remains to be seen.
It’s even worse - last time I checked Tesla had the market cap of the top-15 Auto OEMs.
This would mean Tesla’s enterprise value implied it would be a bigger more profitable business than the entire automotive market
Warms my heart
I do!
Requiring login is going to limit their ad revenue.
Unfortunately, the login will just improve the personalization of ads.
It’ll improve the personalization of ads that are shown to bots, but all the people have left.
Judging by the numbers of upvotes on here, they haven’t left for Lemmy. So where are they?
I don’t know, every time google sends me to Reddit now and I see a login page I don’t bother looking. Probably won’t find anything useful inside anyway
I am guessing they did the math and this came on top
Don’t overestimate their intelligence.
Actually, do yourself a favour and listen to their q3 earnings report. These are some extremely cringy nerds with no value outside of having their forum become viral for being somewhat usable. Its obvious they have no idea what made Reddit usable and are trying to pivot into a live-service-esque walled garden.
They keep talking about making Reddit “Awesome”, with more “interactive lived experiences” (actual quotes by spez during the earnings rep, I would have sold too.
Cringy nerds is an understatement. They all think they’re Adonis ubermen and cannot stand even a few moments where they’re not aggressively huffing their own farts. They’re fucking losers. Fucking. Losers. Every single one of them.
I’m so tired of such fucking losers dictating our lives. It needs to stop. Nothing would make me happier than their shitty website just imploding. But that won’t happen now that we exist on a bot based economy.
All the nerds are gone. It’s just wallstreet Bros now
And whatever unholy amalgam spez is
Reddit has such a good thing going for it when they posted the little gold vs server costs progress bar daily.
It had a great incentive loop “you like the site, site is underfunded, want to donate a bit”?
They were losing money the whole time doing that. The plan was always to go public and start profiting then.
I don’t really buy that.
Firstly, mastodon and Lemmy run for free. I know servers accept donations, but it’s viable at a relatively small price.
They started aggressively hiring around 2016 or so, they took on VC, and they needed to unload, and that’s when they started going to shit.
Even a relatively small loss is still a loss.
I wouldn’t compare lemmy. My god the shitloads of problems I have browsing here! It’s literally most buggy site I know of. Maybe it works fine on a phone, but if it can’t work well in a simple browser, it’s broken.
When have you every heard someone Reddit wasn’t the buggiest site they know of?
Agree Lemmy mobile site is bad, they random with some bad ideas.
Reddit’s smooth as glass compared to lemmy. I have to browse by hiding each post then refreshing the front page (and I can’t tell if I hide the post or not so I’m double checking all the time). “Next” doesn’t work, “next” doesn’t work on replies made to me, old.lemmy is completely broken, much more. Maybe it’s different for different servers, but if .world, one of the largest, is such a clusterfuck, I can’t imagine what smaller servers are like.
I’m an old IT tech, got the patience of Buddha for tech bullshit, but most people wouldn’t hang here two minutes. And if they do, they’ll see all the animal and lolita porn every 4th post (“furry” and “anime”). I would never tell someone I’m on here.
Tbh i have 0 problems and i also never see porn (I did not block any instance or community)
Also, bigger does not mean better
At least I feel like Lemmy is trying the best it can, but I feel like browsing reddit is dodging collosal chunks of hostile javascript and dark patterns at this point.
Ah yes, just operate at a loss until you somehow turn a profit. Brilliant!
It is a sound strategy for companies that need to reach a certain size to be viable, pretty much every mass-consumer tech company does it/did it.
It is a sound strategy in the current market climate, for sure. It shouldn’t be, but we’ve allowed markets to consolidate to the point where they often have few enough players to count on your fingers, so it is.
There’s one tiny detail that you need a viable plan to actually turn a profit.
And reddit did turn a profit, for the first time ever, shortly after going public.
And how long did that last?
They are still highly profitable, although yeah I agree their long term prospects are dimming.
Was that from that Google deal or something else?
Yes, that’s how it works for every start up, even a lemonade stand. YouTube bled money for what? A decade? The payback was taking over the internet video space. Now they profit.
Ellen Pao has the beginning of the end for reedit. Ok when Aaron died was the tipping point, but Ellen was brought in to do the dirt work to keep spez looking good… And it didn’t work, spez sucks
To expand a bit: Aaron was a tireless activist who was harassed to death by the DoJ for doing a tiny fraction of what the broligarchs get away with every day. Carmen M. Ortiz, who pushed the relentless attack against Aaron, is an unrepentant monster.
Fuck Reddit and Fuck Spez.
Instead of saying “fuck spez” like a drone, pivot to saying “remember Aaron” (so that people who don’t know about him can learn something new)
The fediverse LARPs so much about being inclusive and diverse but you’re constantly betraying your tribal nature. Own it. If you’re on the Good People Team, prove it with more than empty, hateful accusations OR substantiate those accusations beyond in-group signaling.
Because this place is fundamentally the same echo chamber as reddit, and it faces the same peer pressure. The only thing that changes is the handle on the usernames, and the only way to be different is to completely ignore the upvote system and say what you actually think instead of what you expect other people to upvote you for (good job, you let your own mind regress to the mean).
Unless your thoughts are as shallow as your words… are they?
I mean, sure? Aaron Swartz didn’t really do much with Reddit at all. The infatuation with him in terms of Reddit is kinda weird.
He rewrote it from Lisp into Python, but that’s about it. He joined after the site was already live and was only there for about a year.
He fought for information to be free by pirating JSTOR papers, and he was persecuted and prosecuted for it, and he killed himself (or did he? [vsauce music]).
… And now we have SciHub. Which is the same exact fucking thing as what he was trying to accomplish.
Also he was instrumental to the invention of the RSS protocol:
As a programmer, Swartz helped develop the web feed format RSS; the technical architecture for Creative Commons, an organization dedicated to creating copyright licenses; and the Python website framework web.py.The same RSS protocol that spez completely killed off a few months ago. Aaron’s grave has been shat on so many times that it’s basically a latrine now. But the people who say “fuck spez” know none of this, and if they do, they’re cowards for not saying it out loud.
Yes his other work was far more instrumental. That’s also irrelevant to Reddit.
Read my edit. Spez killed off RSS a few months ago. The only irrelevance here is that of your opinions.
Aaaand right there you lost the argument.
No, it still has a couple of weeks. It will end on the 13th.
Which, again who cares what Reddit does? It only affects Reddit.
I’ve never seen two people both lose the argument at the same time.
Reddit was initially written in Lisp?! His main contribution to Reddit was actually a bad one then :(
Yeah it was written in Common Lisp. Spez wrote all the original code.
When they merged with Infogami, Swartz became coowner and rewrote it using his web.py that he developed.
That was the total extent he had with Reddit.
deleted by creator
Aaron didn’t deserve the shit thrown his way.
My shallow schtick will remain.
👆🤓
Why say many words when four letter word do trick?
trik
It’s been a few months since I last criticised you for these replies… Why are you still doing this?
Genuinely pointless
Get some hobbies
I’m not worried about your opinion.
I know ;)
Why are you still doing this?
Genuinely pointless
Get some hobbies
The audacity to utilise markdown headers and therefore draw attention to worthless shit like that is just baffling to me. We are already on Lemmy. Nobody wants to read that. I wouldn’t be so annoyed if they weren’t spamming this trash under every third post…
Blocking is the only way to go, unfortunately.
My man, I’m 100% with you on that. That being said - we have much bigger problems here than a guy exploiting his exposition tweaks. I just blocked him and that’s it, shame it’s not that easy with the tankie vermin.
Hi, I am not very smart at the economy. Is it considered good when a company loses over 60% of its value in one year?
At this point in history … the economy looks and acts more like a religion or cult
It only exists based on the beliefs and faith of the people who follow it … as soon as enough people lose faith in it, it is no longer worth anything
It is a religion, and the thought leaders tend to be just as mature as expected when their theories get dismantled. https://www.youtube.com/watch?v=YJrhBwGw7Ac for more information.
a year? It’s down 37.5% in five days !
It is excellent evidence that the founders and VCs chose exactly the right time to unload their scheme and rip off a naive public.
Depends. Do you like that company? Then no.
I dislike the company, so Yay, Bonus!
I’m more shocked some people thought it was worth 260 a share. Sweet Jesus that’s stupid.
That’s like 80% of the stock market right now, so get ready for one hell of a crash when reality comes knocking.
I’m broke. Can’t wait for everyone else to get fucked too.
