Two IMO on-point excerpts of the article:

The highest-ranked replies are very critical of the post. “What good is our feedback when reddit seems perfectly happy to ignore all of it?” wrote one user. “What’s the point?” Another pointed out that Huffman called mods “landed gentry.” “Show, don’t tell,” wrote another user — to which the admin replied, “Agreed.”

“A beginning of what?” replied one user. “This solves nothing, and just wastes everybody’s time.”

Reddit’s administration is sounding more and more like an abusive SO trying to gaslight you into staying in the relationship. “Baby I’ll listen to you, I swear.”

    • db2
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      1 year ago

      Not if the stock price for IPO can be pumped enough for the investors to dump for a profit. The problem is they don’t realize Steve is too dumb to do that for them. They need a Bernie Madoff with grifter skills and no morals, they’ve got a spez with a chew toy and no sense instead.

        • Fisting for Freedom
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          51 year ago

          From the article you linked:

          Fidelity now estimates that Reddit’s holdings could be around $15.4 million as of May 31, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

          This was from before the whole shit fiesta actually happened.

          • 1chemistdown
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            91 year ago

            Further in the article

            This new figure is is also a reported 45.4% slide since Reddit secured Series F funding in August 2021, when an asset manager acquired the platform’s shares for $28.2 million.

            That asset manager was also from Fidelity, who are the investors who keep writing off Reddit value.

            • 1chemistdown
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              31 year ago

              Yes, we will not see affects from that until their next reporting quarter. But they haven’t just devalued by 7% overall. It’s quarterly reporting. Stay tuned to q3 to see if they think Reddit really screwed up.

            • Fisting for Freedom
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              21 year ago

              Yes, and? That doesn’t change the fact the article talks about numbers that came from before any of the protests happened.

              Fidelity’s devaluation (along with the increased overall desperation in SV venture capital) is a cause of the API changes and heavy handed suppression of the protests, not a result of them. It’s an attempt to halt/reverse that slide by asserting control and taking concrete measures to better extract value from Reddit.

    • Fisting for Freedom
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      1 year ago

      Perhaps I wasn’t clear - they care, but think he’s doing what’s necessary to drive value for investors by eliminating places where revenue or potential is being lost - 3d party apps that don’t show Reddit ads/collect user data and the new found value of posts and messages as training data for LLMs.

      You’re replaceable to them, and frankly the fact that you care makes you less valuable than a random person who’ll just click on memes and post answers to questions. The communities that they can effective extract value from are more trouble than they’re worth. You and your ilk are the problem, not spez.

        • Fisting for Freedom
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          -11 year ago

          First of all, most of the devaluation happened before any of this went down. Second, stopping the chaos on the platform plays well with investors.

            • Fisting for Freedom
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              21 year ago

              From the very article you linked:

              Fidelity now estimates that Reddit’s holdings could be around $15.4 million as of May 31, which is down over 7% from the fund’s estimates of $16.6 million from this past April. This new figure is is also a reported 45.4% slide since Reddit secured Series F funding in August 2021, when an asset manager acquired the platform’s shares for $28.2 million.

              The numbers are from May of this year, not since June.

              Read your sources.