News @lemmy.world imvii @lemmy.ca 19h ago

Why Reddit, Inc. (RDDT) Crashed on Monday

finance.yahoo.com Why Reddit, Inc. (RDDT) Crashed on Monday

We recently compiled a list of the 10 Firms Suffer Steep Downfall on Monday. In this article, we are going to take a look at where Reddit, Inc. (NYSE:RDDT) stands against the other stocks. Ten companies kicked off Monday’s trading in a bloodbath, mirroring the broader market pessimism, with valuatio...

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Everything of value on Reddit was posted by people who have left

A lot of those people left for here
- The content is so repetitive, likely because they drive engagement by reposting content with bot accounts. I still get a major amount of news from there, I can tell it's value is slowly fading
- It’s still good for niches. I am in a couple subs about health conditions, and there are no comparable communities on Lemmy. I haven’t observed the composition or activity level of the groups change at all over the past couple of years.
- Disagree, as somebody that started on reddit 15 years ago who now browses Lemmy daily, I still read and post there more because there is more content and discussion.
  
  People that say otherwise are living in a Lemmy or bluesky bubble
  
  Be part of the change. Your “discussion” is with bots over there
  
  You're most certainly part of the problem. You're like someone who complains about local restaurants closing, but keeps buying drive through. Reddit isn't better, it's merely easier, but it's also a terrible value and bad for your health.
  
  There is nothing positive that Reddit is capable of, that Lemmy is not. It all comes down to shifting the audience. Lemmy keeps improving, while Reddit keeps getting worse. All Reddit has is inertia, the energy of which came from a distant, nearly forgotten push. Put some time and effort in, help build something rather than merely consume it.
  
  Lemmy has just about enough content that I rarely run out of things to engage with. It's not quite there yet, but it's pretty close and probably I don't need to spend any more time on social media than I already do.
  
  I also joined Reddit 15 years ago, and I gave it up completely after the 3rd party API debacle. I haven't been back since, outside a few searches for BIFL recommendations. I don't understand what beef you have with me
  
  I'm one of those people. I joined reddit in 2006, and was a very active poster/commenter for nearly two decades.
  
  I deleted all of my alt accounts and logged out of my main for good, well over a year ago. The communities I was involved in were still mostly human and organic, but I saw far too many people getting blocked for disagreeing with the organization. (In addition to all of the other bullshit they were pulling, of course.)
  
  I left, and came here. Lemmy was a wasteland of so few posts that I could read/skim ALL OF THE POSTS on Lemmy, across the fediverse! It was sparse, but I resolved to be the community I sought.
  
  And now we're...getting there. Reddit still has more real content, but it's not worth digging through the trash for, and they're not a company I want to prop up anyway.
  
  A huge amount of uncensored bots and censored users. I called too many nazis nazis for reddit and am IP banned now lol
  
  I still read and post there more because there is more content and discussion.
  
  You're free to post and upvote whatever they want you to post and upvote. Go ahead and post the word "luigi" there, or even just upvote someone else that did.
  
  It's certainly more content but I'm not so sure there's that much well-intentioned human-human discussion anymore. A lot of comments strike me as generic comments like those that could've been generated by a bot or a person working from script. I've begun noticing it on the local sub I usually check, as well. Until they wall it off it is still full of useful old references from a couple years ago, though.
  
  Yeah that's just all the normies left that came after it was already good. They heard about it from a friend on Facebook
Reddit is going to quickly be replaced by AI, leading to the question: what data will AI train on after that?
- My conspiracy theory is that the recently popular ExplainTheJoke and PeterExplainsTheJoke subreddits are being used to train the AIs to understand the context behind memes.
  
  My husband still browses Reddit regularly and when I asked him about this he said that the r/tattoos has definitely been taken over by AI training. A lot of the posts there are photos of tattoos with generic questions like "what is this style of tattoo called" or "how long would a tattoo like this last". The only useful results I've found recently are from years ago, and even then a lot of searches lead to discussions with a ton of deleted responses.
  
  Oooh that's a good one.
- If they keep feeding garbage data to 'train' AI were going to end up living in a future ruled by an absolutely deranged train wreck of an intellect.
  
  No changes for the US.
- Who will train the AI?
  
  "The AI!" Said the AI.
Lol, finance (and thus financial reporting) is so braindead.

I'll summarize the whole article: Why did RDDT crash? "Because the stock price went down. Some people sold the stock, so more people sold it, now the price is lower"

Thanks Yahoo finance, this is the journalism we rely on you for...
Because it's trash?

Somehow it's both under-moderated AND over-moderated
- It used to be the "front page of the Internet". Now it's at the top of my search results, but the last page I'll actually visit...
- The term you're looking for is "biased"
  
  Sure but that doesn't explain the mechanism
Good. Let it fucking burn.
Wow, reddit is actually up 164% since IPO. Did not expect that at all
- I'm a bit surprised it's not higher.
  
  Everything they've done is to increase their ~~profits~~ revenue. While some people may have left as a protest, the vast majority of people don't really care - see: twitter, facebook, instagram, tiktok. If anything, the "bad news" about people leaving was great advertising for them.
  
  What I've observed over the past ten+ years, and still don't understand, is how anyone enjoys the platform at all. At one level, I get that it's just another social media platform that promotes headlines and memes. But the voting system and the engagement is revolting. I'm not going to say it's 80% bots but I will say that 80% of people using social media might be dumber than the bots.
  
  I deleted my account in 2023. I have to admit that there are few if any reasonable alternatives for some of the subs existing there. The Fediverse really doesn't satisfy the need for people to get semi-expert opinions on things, for example.
  
  Last I heard though they still weren't profitable, but that was awhile ago. Has that changed?
  
  They have gone done in quality an incredible amount just to get profitable, I can't see them increasing in profit consistently....
- If the GME/AMC story taught me anything, the price of a stock doesn't necessarily reflect the value of the company. It's just what people are willing to buy/sell the stock for.
Reddit crashed on Monday because Hoffman thinks he can fuck with investors like a trillionaire can. Do I need to put the clap hands in between all the words, too?
Reddit should be a penny stock

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