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submitted 9 months ago by lvxferre@lemmy.ml to c/snoocalypse@lemmy.ml

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.

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[-] CaptDust@sh.itjust.works 70 points 9 months ago

Who will be the sucker that buys a site full of bots reposting content for other bots to "discuss"?

[-] lvxferre@lemmy.ml 42 points 9 months ago

Vulture capital. They don't really care about what they're buying as long as they get some profit out of it.

[-] empireOfLove@lemmy.one 14 points 9 months ago

That would require reddit to actually be making a profit....

[-] lvxferre@lemmy.ml 14 points 9 months ago

Or if Reddit can bullshit that the site can be profitable "soon".

[-] neshura@bookwormstory.social 8 points 9 months ago

during the entire API fiasco some people had a look at their financials and the conclusion was that they should be making a profit if their revenue numbers are remotely correct. Somewhere in this pit of dung they have several money pits of unknown nature

[-] slurpeesoforion@startrek.website 1 points 9 months ago

Are they SBFing islands for their hoity parents?

[-] DarkThoughts@kbin.social 28 points 9 months ago

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.

[-] Blaze@discuss.tchncs.de 4 points 9 months ago* (last edited 9 months ago)

Interesting, any link to that bot analysis?

[-] neshura@bookwormstory.social 1 points 9 months ago

Same, really interested in that data

[-] Candelestine@lemmy.world 17 points 9 months ago

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.

[-] nieceandtows@programming.dev 12 points 9 months ago

That reminds me of this super genius billionaire guy...

[-] DemBoSain@midwest.social 4 points 9 months ago

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.

[-] LemmyIsFantastic@lemmy.world -1 points 9 months ago

Have you seen how much bot content is here? Glass houses and all.

[-] lvxferre@lemmy.ml 9 points 9 months ago

Three key differences: bot content here is marked, avoiding it is as easy as checking a box in your profile, and Lemmy not being sold.

[-] archomrade@midwest.social 2 points 9 months ago

What are you smoking bud

this post was submitted on 29 Nov 2023
160 points (96.5% liked)

SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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