• Stamets
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      1 year ago

      I take offense to this. I have a little dick. I don’t destroy everything for everyone around me while shitting myself violently. I say he has Caillou energy. Arrogant, narcissistic, hideous, an abject freak, a mistake granted legs and will hopefully suffer from a terminal illness.

      Fuck Caillou. Fuck Steve Greedy Pig Boy Spez Huffman

          • @[email protected]
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            21 year ago

            This doesn’t apply to sayings. If it does, saying someone has a big head for acting proud is also body shaming. That’s dumb.

            • @[email protected]
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              71 year ago

              This doesn’t apply to sayings

              i don’t see why you would think that? it definitely applies to sayings.

              btw, notice how everyone has a head but not everyone has a dick? the clue for why it’s misogynistic is in there…

              notice how men are endlessly shamed and ridiculed for their dick size, and many people have complexes over it and even kill themselves?
              the clue as to why it’s harmful and body shaming is right there…
              not a lot of people crying over the size of their head…
              there’s no support groups for people with big heads…

    • Brownian Motion
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      101 year ago

      I’d pick prohibited transaction. I live in AU. NYSE won’t let me trade there.

      Either that or “hate” - all redditors can get involved, but not you because you are not from the US. Sounds like communism.

      • @[email protected]
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        51 year ago

        You can trade on the New York Stock Exchange in Australia. I trade foreign stock exchanges all the time.

        • @[email protected]
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          11 year ago

          It’s a bit more complicated… you trade through a broker with trading rights on that exchange. Unless you are a power user on a bloomberg terminal.

          Reddit could direct sell shares to a US resident, I’m pretty sure, as a first party sale.

          • @[email protected]
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            21 year ago

            Why would you want to do that. Unless you are trading massive amounts of money, it’s more practical to just use an online broker.

  • @[email protected]
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    1461 year ago

    Sounds like a hell of a lot of money for a CEO who kept insisting that he had to kill 3rd party apps because Reddit still isn’t profitable.

      • @[email protected]
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        21 year ago

        It’ll say “to the moon” with some animation, and then they’ll take away some other feature of the site because it’s “too expensive to maintain”.

    • @[email protected]
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      811 year ago

      “Reddit isn’t profitable because leadership is wildly incompetent, so let’s pay them an exorbitant amount of money instead of using that money to properly fix things or make any genuine improvements to anything.”

      -reddit

    • @[email protected]
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      411 year ago

      Let’s be real, they did it because they didn’t want people training AI models without paying them. They didn’t give a shit about 3rd party apps.

      • @[email protected]
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        1 year ago

        I’m convinced there was more to it. Otherwise they’d have worked with the app devs to find a mutually beneficial solution. Instead they just acted like massive, deaf assholes through all the drama, blackout…

        Of course, it’s totally possible they’re also insanely stupid, arrogant assholes.

        • @[email protected]
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          81 year ago

          It makes the ridiculous prices they were quoting make sense. Because giving API access is giving a key to all that data, which they can then turn around and covertly sell access to. So they priced it so that they wouldn’t have to sell the data at wholesale value to apps that could turn around and undercut their AI training prices.

          It’s the same reason why they were considering blocking Google search because Google (or any search engine) uses a crawler to look at all that data and you can’t allow Google to continue without leaving it open to any other crawler, like say an AI training data crawler.

          Same thing with any push to make users log in to view comment threads (and it wouldn’t surprise me if that’s what Musk was thinking of when he was doing/considering the same with Twitter). If only users can access the comment data, then it’s easier to see when a user is reading too much data, or rate limit them. Also the move towards only showing a bit of a comment thread by default.

          But that data is the only reason people visit the site and provide more data, so I don’t see this problem ever fully going away for them. The problem they are trying to solve is how to give access to enough data to engage users enough to provide more data while preventing AI trainers from getting that same data for free. If I wanted to, I bet I could write something that would fill a database with comment data and metadata while browsing normally in less than a day and then a bit longer to automate the browsing entirely (depending on what kind of bot detection the site uses). There’s no way for Reddit to stop the manual browsing version and the automated one will be an arms race that will also end in no way for it to be stopped because it emulates a real user to an undetectable level.

      • @[email protected]
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        131 year ago

        People that want to train AI models on Reddit content can just scrape the site, or use data from archive sites that archive Reddit content.

        • AnyOldName3
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          61 year ago

          The archive sites used to use the API, which is another reason they wanted to get rid of it. I always found they were a great moderation tool as users would always edit their posts to no longer break the rules before they claimed a rogue moderator had banned them for no reason, and there was no way within reddit to prove them wrong.

            • AnyOldName3
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              21 year ago

              Yeah, the Wayback Machine doesn’t use Reddit’s API, but on the other hand, I’m pretty sure they don’t automatically archive literally everything that makes it onto Reddit - doing that would require the API to tell you about every new post, as just sorting /r/all by new and collecting every link misses stuff.

              • @[email protected]
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                21 year ago

                You don’t need every post, just a collection big enough to train an AI on. I imagine it’s a lot easier to get data from the Internet Archive (whose entire mission is historical preservation) than from Reddit.

                The thing I’m not sure about is licensing, but it seems like that’d the case for the whole AI industry at the moment.

  • suoko
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    21 year ago

    How much would that be divided each currently active Lemmy instance?

  • @[email protected]
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    131 year ago

    This is such an amazing grift. I can’t wait until more social media firms start trying to direct-market their stock to their user base.

    • AutistoMephisto
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      31 year ago

      And watch as being a shareholder confers no tangible benefits for owning stock in the website of which you are a user, or worse, you get benefits, but they are limited to how much stock you have.

  • @[email protected]
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    191 year ago

    While cutting off reddit apps that are better than the bloated shitshow that is the reddit app

  • @[email protected]
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    1 year ago

    Seems to me the institutional investors aren’t interested at the price they’re asking.

    • @[email protected]
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      151 year ago

      Nah, if you click through to the sign up they ask you for a bunch of personal information on a form hosted on reddit.com and then say “there are a limited number of spots, we will accommodate as many people as we can.”

      A month from now, 99% of people who fill out that form will be “wait listed” but reddit will have their real name and phone number forever. That’s the grift.

  • @[email protected]
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    231 year ago

    I was in the first round of invites.

    I might buy some depending on initial price. May as well milk them a bit like they’re doing to their users.

    • @[email protected]
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      1201 year ago

      You never know when they’ll dump. Hoping you can dump before others do in a pump and dump is not usually a good bet.

      • @[email protected]
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        341 year ago

        Smart move could be to short it.

        But then, I thought that Facebook’s IPO would flop, too.

            • @[email protected]
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              61 year ago

              From memory all those were performing well, getting load of attention and be used by “everyone” at the time of their ipo. Particularly google was THE search engine and Facebook was THE social media site.

              Reddit has been around forever, most of us left, what does it really have to offer? Keeping in mind that llms have had access to all that data for s long time, I can’t imagine the last 8 months or so of reddit data to be that significant.

              Usually companies go public because they have an aggressive plan that requires growth and a massive cash injection. What is spez’s plan if he gets that? I’ll admit I haven’t really followed much, but I doubt reddit had this huge potential. And that’s even if they didn’t alienate their users and nods.

              Reminds me those pet food companies going public in the late 90s during the internet bubble.

        • @[email protected]
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          31 year ago

          But you won’t have the fastest possible internet ping, others are gonna dump before you.

        • @[email protected]
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          11 year ago

          Yeah for sure, but I say it here to imply that it would be a loss. Maybe I’m just on the hate train but I’ve not seen a true way that Reddit’s fundamentals as a company can be anything but very short term performance. I think they have a very limited time to milk their existing content, and the enshittification is not helping bring much more in.

          It’s an unrelated industry, but I encourage you to look at Rivian’s IPO. Bought a couple shares for fun and small spike for a day or so then tank all the way to the ground. Mr. Spez is gonna pump and dump and run away with your cash IMO.

          • @[email protected]
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            11 year ago

            Why did Rivians tank?

            I like what they’re doing with their vehicles, and I hadn’t heard anything particularly damning about them

            • @[email protected]
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              11 year ago

              Me too, I think their products are exceptional for an early company. It was pumped high initially due to Tesla hype and investors Looking at their stock as the next potential Tesla (200x appreciation). That bubble passed shortly after the IPO, though, and unfortunately, Rivian had reported missing production and delivery targets for a few quarters in a row, increased expenses, like the rest of the industry, and generally not performing compared to what they told investors to anticipate.

              They’ve had difficulty recovering since then and the share price is trading at about 1/10th of the IPO price.