this post was submitted on 12 Jul 2023
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Oh my God. This is awesome.
"We need to tighten the purse strings!!1" quickly became "open the coffers!" as soon as they hit a speed bump.
Seriously epic. With the amount of vote manipulation going on over there, this will be a complete and utter failure. I guarantee it will be pulled in a month or two.
So stupid. Greedy motherfuckers... I thought it was the unpaid, volunteer mods that were the "landed gentry" that were ruining the site? They fucked around and found out pretty quickly, and now they're creating something that fits their analogy much better.
I can't wait to see their IPO fail miserably, and watch Steve Huffman realize that he fucked himself over by being too greedy.
I have a feeling that whatever disappointment the current owners and execs of Reddit have with the IPO will be eclipsed by the disappointment of the people who buy the shares. I don't think Reddit was worth anywhere close to the valuations two months ago and I'd be surprised if it's still worth half of its true value two months ago.
But then again, it has close to zero value to me at the moment (it varies which side of zero it's on based on my mood).