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  • They must not have gotten a lot of takers when they offered buy-in options to power-Redditors (or whatever they called it). My account is old but was never super active, and I got an email a few weeks ago trying to get me to buy in. LOL nope.

    • I got an email and TWO direct messages on Reddit. LMAO nope.

      • I think it has to do with karma count.

        I had two accounts, one had been scrubbed and was mostly used for commenting, and the other was a porn alt.

        The porn alt has hundreds of thousands of karma and it got multiple IPO messages while the original, older account got nothing due to being sub 5k on posts.

        Edit: Suspicions confirmed!

        Reddit is planning six tiers of early access based on each “participant’s contributions to Reddit,” the company said in its updated SEC filing. Those tiers are based on a user’s “karma” score, ostensibly an aggregate total of up/down votes on posts and comments.

        The first tier of users will be those “who have meaningfully contributed to Reddit community programs,” though what that means isn’t explained more clearly. After that come tier 2 users, who must hold at least 200,000 karma points or have taken at least 5,000 moderator actions. Tier three includes users and moderators who hold at least 100,000 karma points and have taken 2,500 moderator actions. Tiers 4 and 5 are each half of the previous tier’s total, and tier 6 includes everyone else, with a waitlist available if the total number of shares purchased exceeds the original 1.76 million.

      • I haven't logged in for months, but I'd guess I'd have similar DMs too (that will forever remain unread). Only reason I didn't delete the account was because so many people kept showing their accounts being restored against their wishes.

    • Fuck Reddit

  • I mean, this will probably kill the platform long term. Not the stock its self, but what’s going to happen when they need to start answering to an outside pool of share holders.

    The website became popular because of its user curation and moderation. That meant it was showing people what they wanted to see and allowed them to self select into communities that facilitated that.

    They’ll be forced to bring in smooth brained business types that will focus on putting ads and “native content” in people’s faces as much as possible. At the same time cracking down on “not advertiser friendly” content and mod teams that don’t play ball.

    All of this has kind of happened already to some extent, but it’ll get a lot worse when shareholders demand they bring in consultants or new leadership who think they know better than the team that’s been struggling with this for over a decade. Even if the average user won’t understand what is wrong, they’ll spend less time there as it starts to fail to show them what they want. But hey, the share holders might make their money back before the platform dies.

  • I am not a broker and this is not advice. But I think this is a fantastic short opportunity.

  • So that's how much they value their current and future data gathering operations to be. Because we know it isn't going to turn a profit, ever.

46 comments