1M chart doesn’t show anything. We can see that the decline started on 7th Feb, together with US stock market in general. It has nothing to do with “Reddit siding with Musk”.
It does when you compare it to the market average.
You can’t make any decisions across one month only.
You can make comparisons, all boats are sinking, but a few of them are tied together, and one of the captains has a corkscrew.
What, you want them to wait until supporting fascism pays off?
Meh, fuck em
I left however many days ago my Lemmy account says - from being a daily user ^
So it was me that caused it.
You’re gonna get so much ankle, hero.
I hope my dude is sitting down somewhere alone
Lol OP are you serious with this low effort shitpost? I’m all for shitting on Reddit but in case you’ve been living under a rock the past month, THE ENTIRE MARKET HAS GONE DOWN, OF WHICH ALL TECH HAS BEEN HIT THE HARDEST. I mean my God, what even is this community? Ya’ll drinking the Kool-Aid here hard.
Maybe this is a dumb question, but how does the day to day health of the reddit community affect the stock price? Wouldn’t a simpler explanation be that reddit stock is in decline like most other stocks right now because of the overall market uncertainty?
Stock indexes, typical stocks, are down about 10% from highs around that period.
Federate. Anonymize. Consensus based moderation. Without that we succumb to tyranny.
I gave up the game there after 12 years… of mostly lurking though.
I’m just trying to get permabanned for mentioning Lemmy and sharing my views on billionaires at this point
Man is that overvalued as fuck.
Are those the reasons for the drop though? I’ve been completely oblivious to this.
Fuck Spez, and all that, but really, this chart isn’t much different from nearly every stock for the same time period.
I think that dip has more to do with Trump creating uncertainty in the market overall than any specific Reddit trend/policy.
Kinda…
For comparison, the S&P 500 felt 4% on the period, Nasdaq felt 7%. So 30% is really noteworth, Redddit is one of the stocks pulling the index down. But it’s not alone, and blaming it on any random cause isn’t right.
Yah, I was going to say the same thing. S&P not only dropped much less, it dropped at a different time and slope. S&P dropped in line with when Trump took office and has been relatively flat. Reddit has been on a constant decline since the start of the year.
https://programming.dev/post/27667403
It is being talked about over here from a Bloomberg / yahoo finance article.
It they are linking to the Reddit’s behavior?
IMO, anybody who invested is a fool. AFAIK the only user-generated content companies that have made the model work are Google (YouTube) and Meta, and that’s because they’re the advertising duopoly that controls the Internet. Maybe TikTok, but that one’s a mess. Twitter couldn’t do it, even before Elon they were a big money loser.
So, what does Reddit have that other companies don’t? Nothing really. And now that they did their IPO their investors are going to start demanding growth, which means enshittification. But, unlike YouTube where there’s no viable competitor, or Facebook / Instagram where there are network effects locking people in. Reddit users are mostly pseudonymous. IMO that also means much more likely to jump to another platform like Lemmy.
I think Twitter did finally make some profit before Muskrat takeover, I remember reading a headline that it was finally profitable after 10 years or something
Their IPO was priced below $100, thus far the model still works. I’m guessing they’ll go the way of facebook, with dwindling user engagement but somewhat stable ad revenue since people go there out of habit or through links from random google searches for obscure topics.
But Facebook has network effects that basically lock people in. If they leave they leave their friends and family behind. It causes a collective action problem. If you leave, your friends and family stay behind. You want some way to move everybody all at once, and that’s really hard.
But, because Reddit is based on pseudonyms, people don’t tend to form attachments the same way, at least IMO. That means you feel less locked in. As long as you can find people talking about those same subjects elsewhere, you aren’t as locked in.
In addition, Meta is part of the online ad duopoly along with Google. They’re really good at monetizing their users. Reddit is just a smallish website and can’t compete with that.
For now, random google searches take people there. But, that’s based on the idea Reddit isn’t going to lock results behind a paywall / registration wall, or Google isn’t just going to slurp up the results and present them so someone never has to click on the Reddit link.
They’re not below the IPO price yet, but they certainly aren’t growing all that fast. They spent most of the time since the IPO barely moving, then they had a 3 month growth in their stock price, followed by a huge dip. The investors want growth, and growth requires enshittification, and enshittification will make people leave.
Very good point, I didn’t really consider that. And now I feel bad for not replying more to your elaborate response, but there’s simply nothing else I could add.
I am proudly permabanned from reddit for telling people to punch Nazis.
Punching nazis isnt mindless violence. Its violence against the mindless
I got a 3 day ban for agreeing that putin should die (after Selenskyj said it would soon be so) and the joking wish that his natural death also happens to his chosen successors.
Now im here.
Hey that literally just happened to me too.
They permabanned my main and unrelated business account for saying I didn’t care that Trump said Liz Cheney should be shot. Apparently not caring is also “promoting violence.”
Cheney is a warmonger who has called for the killing of millions in unjust wars. I don’t care if someone threatens her.
I mean things could not matter potentially but I left Reddit permanently and came here cause of this.
Echoing this.