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Reddit's API protest just got even more NSFW
(mashable.com)
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this post was submitted on 04 Jul 2023
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Fidelity has been dropping the valuation of its stake in reddit, and that's only as of May 31st. We don't know yet how the value will respond to all this drama, but I suspect it will go down more.
The IPO might not fail, but they probably won't get what they wanted out of it.
Unfortunately this probably means that the platform will sell to people who expect to get use out of it for direct public influence of some kind (marketing/politics).
Sadly they’ll still get rich as shit if valuation drops a lot so there isn’t much incentive to treat the community better.
I invest in quite a few tech companies and I was considering investing in Reddit, but there's no way in hell I would now. I can't be the only potential investor they have alienated.