this post was submitted on 11 Jun 2023
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Weeeeeeellllllll, there are a lot of former Reddit users here so you won't miss too much, I think!
Reddit's not what it once was, and won't be ever again if they continue towards IPO even if they walk back some or all of the proposed changes. I might visit occasionally to check up on things, but by-and-large I'm done with it.
I wonder if there will be a massive short of Reddit's stock, like what happened with GME.
I will be shorting the hell out of any IPO, assuming one even happens at this point.
If reddit does IPO I 100% for sure am buying puts. Only enough to the point if I lose the money it wont hurt me but enough money that if reddit tanks I can make a decent chunk if change.
Once the consequences sink in for ruining Reddit's engagement to get a better valuation, the stock price will tumble. I think it's a terrific opportunity for some puts.
I think it'll go up at first because they'll convince people all the whiners are 'just' superusers that make up 2% of the site, then tank when they realize that 2% is 50% of content and moderation.
What's the correlation with the IPO? Are they somehow pressurized so that IPO entry means they must get rid of third party integration and similar other feature changes?
It means their changes will be motivated to "cut waste" and squeeze every penny out of the goodwill of it's users, in order to appear profitable (despite Steve Huffman describing Reddit to the contrary).
It means that theyβre doing everything they can to be profitable