RedditMigration

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gillrmn, in Fidelity has cut Reddit valuation to $5.5B from $10B
@gillrmn@kbin.social avatar

I doubt it is related to migration. It is too soon to have any data on that affect and by numbers it is not much of affect either. The only cost factor of migration that can be done before next quarter release would be increased costs in future dur to moderation, but even that would be very subjective. This is probably due to increased interest rate scenario as feds have said they will bring inflation to 2% so there will be more increase. Hence lowering of cost and spend by companies on advertising and marketing.

shoelace,

It's not related to the migration. The article said the lower valuation is as of May 31, before all the backlash on reddit began.

milkytoast, in Fidelity has cut Reddit valuation to $5.5B from $10B
@milkytoast@kbin.social avatar

it's almost like not listening to your users doesn't end well

ANuStart,

4.5 billion still sounds well to me...

milkytoast,
@milkytoast@kbin.social avatar

wee bit worse than 10b

Poppamunz,
@Poppamunz@kbin.social avatar

not if that's the amount you lost

LynnTheChaoticWitch,

A fifty percent drop isn’t a good sign

billiam0202,

Rumor has it that Reddit wants to IPO at $15 billion. Hard to do that when you were worth $10 last year and are worth $4.5 this year.

Jaysyn,
@Jaysyn@kbin.social avatar

This happened before the current kerfluffle.

bionicjoey, in Fidelity has cut Reddit valuation to $5.5B from $10B

It’s almost like loudly announcing contempt for your userbase is not good for a website where virtually 100% of their value is derived from the loyalty of their users

Packopus, in Reddit protest plunges user engagement, site activity and ad portal visits

@abff08f4813c The main thing about all this is that there were no alternatives to Reddit until now. We needed a good push and reason to leave but never had a tangible alternative with nothing even showing up in Search results worth checking out. Now we do, All these big corps are screwing themselves, and we now have a BETTER alternative than all of them. So keep screwing up, Reddit, we have a place to go now. Keep screwing up, Twitter, Google, StackOverflow, Tumblr, Imgur, and all others that will soon follow suit.

CybranM, (edited )

What has Stackoverflow done? Im ootl on that one

danieljoeblack,

They are seeing a decrease in usage since ChatGpt came about. They had implemented a network wide no AI generated answer policy, but after seeing their number declined decided to blame the mods for removing and banning users who were posting AI answers.

They refuse to show any data that supports their claims (that the mods banning users accounts for the decrease in usage), have told mods in private that they can no longer enforce the rule, but still want the rule to be in place.

They have continuously said one thing and done another, slowing eroding moderator and user trust. You can checkout the meta stack overflow site for the entire situation.

SkyeStarfall,

What's up with all the companies shooting themselves in the foot all at the same time?

danieljoeblack,

I think a lot are trying to monetize the LLM craze, hoping to get OpenAI to pay for the training data, but idk

HubertManne, in They stole the internet from the people and we have to take it back
@HubertManne@kbin.social avatar

The bastards stole their power from the victims of the Us v Them years, wrecking all things virtuous and true
The undermining social democratic downhill slide into abysmal. The lost lamb off the precipice into the trickle down runoff pool...

broken_arrow, in They stole the internet from the people and we have to take it back

AI can scrape data from fediverse sites too, no?

I prefer this over Reddit, but we're not solving that problem.

ruk_n_rul, in Fidelity has cut Reddit valuation to $5.5B from $10B
BornVolcano, in It feels a lot nicer here on lemmy / kbin

I thought it would be a really hard shift since I used reddit so much. The more I go between them, the more I realize reddit is just another forum website - it's not even a really good one, either!

This change has been super helpful for me to learn not to get so attached to stuff. The people here are the same as the people there and the stuff I post can go anywhere I want it to, there's nothing extra special about reddit. It's super freeing!

IceSea,
@IceSea@lemmy.world avatar

100% agree... and not having to think about karma, which I didn't really, but then still kind of did I think, feels really awesome

magnetosphere,
@magnetosphere@kbin.social avatar

You should try Beehaw, or any other instance that’s disabled downvotes. THAT’S awesome. If someone disagrees with your point, they actually begin a conversation, instead of just slapping a down arrow.

Firefly7,
@Firefly7@lemmy.blahaj.zone avatar

Im on lemmy.blahaj.zone and I’ve enjoyed the same thing. So, too, does mastodon feel this way - by default, you can’t see how many likes, boosts, or replies something has. So you end up with people actually talking to each other, rather than clicking a button that makes someone else look bad. In general on the fediverse there’s a prioritization of positivity over negativity, and healthy engagement over petty fights. It’s nice. Makes things easier on the moderators, too, I’m sure.

SnowGlobal,

Can you clarify on karma not mattering here? I’ve heard that before, but I also see a total upvote count on my profile page. Does karma not impact the sorting of posts or what?

livus,
@livus@kbin.social avatar

Well, for a start, I'm on kbin.social so when I click your profile you have 0 everything. So whatever we have on our instance probably doesn't come with us into the fediverse.

And here at kbin our upvotes are not karma. I can see them on my comments but they don't accumulate anywhere. So it means nothing. (There is some kind of system here where downvotes matter locally and not upvotes but apparently its broken and Ernest will probably fix it one day).

minnieo, in Taking 11 years of data contribution with me! Train your AI with this, Reddit! (Power Delete Suite)
@minnieo@kbin.social avatar

did mine too. i took this text from someone else's edited comment cause i liked it so much, added a line or two

Kill_joy,
@Kill_joy@kbin.social avatar

Beautiful

genoxidedev1, in It feels a lot nicer here on lemmy / kbin
@genoxidedev1@kbin.social avatar

I personally love how inclusive everyone (at least 99%) here is and I am personally fighting very much to keep it that way. Although I am white and only an ally and thus not part of LGBT myself, even I feel much safer here although I wouldn't have much to fear on other websites myself.

BraveSirZaphod,
@BraveSirZaphod@kbin.social avatar

That's genuinely appreciated!

Briguy24, in Fidelity has cut Reddit valuation to $5.5B from $10B

Thoughts and prayers

explodingkitchen, in Instead of deleting your Reddit account, consider using chatgpt to make comments instead

lolnope. I'm not that hung up on my ex. Bitch about him to my friends over a beer? Sure. Stalk him and trash his car? That shit's for losers.

debounced, in Fidelity has cut Reddit valuation to $5.5B from $10B
@debounced@kbin.run avatar

imma need about tree fiddy

pizza_rolls, in On The State of /r/PICS: Profanity, Offensive Content, and An Open Letter : r/pics
@pizza_rolls@kbin.social avatar

I don't get why people are clinging to the idea that reddit will suddenly give a fuck. They are unprofessional, rude, liars. It doesn't matter if they bend down and kiss your ass with a million false promises. They won't follow through.

Look at what happened to interestingasfuck, they are approaching a week with no mods and completely locked down. You can easily make reddit implode themselves with their hubris of mods being easily replaceable. They have shown that is not true. Y'all will be removed anyway before the IPO, they won't risk this again. So hurry up and let them implode before they have time to figure out an alternative before the IPO

muftiboy,

what I don't get is why someone would go out of their way to try and convince somebody else that a protest is meaningless while the protest is going on. why would you take time to convince others to stop, what is there even to gain from that? only reddit would want that. if the protest was truly meaningless you wouldn't have to argue against at all. clearly the protest have an effect on you and on reddit.

Ertebolle, in Fidelity has cut Reddit valuation to $5.5B from $10B

I still have 14,000 free coins in my account - maybe soon the valuation will drop low enough that I can buy the company with them, like in that Star Trek TNG episode where Data wins so much money that he buys the casino.

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