Wow. Front page of huffpost.com right now. Interesting...
this post was submitted on 17 Jun 2023
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Oh well, here I am, glad to join this ship. I just want a reliable place I can further geek out on mechanical keyboards, memes and news. I hope we migrate somewhere cause reddit does not look like it has a bright future.
Welcome! I'm super stoked to be here, too. And each day this community seems to grow stronger.
I agree that reddit's future looks weak. The API change was horrible. Spez's approach to the whole thing was even worse: condescending, disingenuous, and hostile.
And the more I think about it, the less I see any hope for reddit as a place I want to spend time. This isn't just one bad episode. Once the company goes public, there's going to be more shit like this. The site will slowly gut itself for perceived short-term gains, over and over again.
No thanks.
the problem with shareholders is that they always and forever need to see a chart that's in a growing trend. That line is getting kind of stagnant there mate how you gonna please us? What makes this problematic is that there will be a finite number of users for this infinitely growing service, sooner or later growth will have to slow and this does NOT please the shareholder. Where are the gains bro? I was promised gains.
Not always, but it is when you go public. I work a lot at small businesses, lots of them have shareholders who are mostly hands-off, or would prefer a more conservative approach to protect their investment.
People who invest in non-public businesses are usually in for the long haul, and come with much greater risk.
But when you go public, your business just comes a commodity, nothing but a vehicle for a fund manager to use to try and get a higher return for their clients so they get more business and commission.
In theory, it's a really democratic system, but the reality is that we've lost track of what an investment is meant to be, and the number of private individuals actually holding shares in a company directly is very low, it's mostly fund managers who literally just want to pump their numbers for a few years, because long term, they never really beat the market.