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reddit fucking destroyed the plex share community.
(lemmy.world)
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this post was submitted on 19 Jul 2023
402 points (96.3% liked)
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But are investors this stupid? Who invests in an IPO without doing research on the company's activities? If they check the internet and it's countless articles about how their users and moderators are pissed and leaving, why would anyone think it's going to be profitable?
The sad thing is that reddit will probably do alright for at least a few years. It may not be an awful investment in the short term.
That said, it'll slowly burn out and investors will be left holding the bag. But that's alright, because Steve Huffman will have gotten his payday and retired to the decommissioned missile silo that he converted to luxury apartments in case of doomsday. All he had to do was fundamentally change the way people use the internet by selling the company that his two smart buddies created.
Fucking preach.
Yes. Look at the 2008 housing crash, and tell me average investors are intelligent.
They definitely do, check out WSB and Robinhood subs
Investors aren't great at seeing what makes or breaks a community. They just want to see how Reddit plans on profiting from the community.
Not necessarily, companies like Twitter make consistent losses with no real path to change that, yet its deemed to have value by investors.