Nobody is really talking about Reddit dropping value since they banned Luigi posts and sided with Musk to remove communities

I mean things could not matter potentially but I left Reddit permanently and came here cause of this.
- Echoing this.

They have a price that's still hundreds of times above their earnings. The stock is comically overvalued. It isn't crashing and it has nothing to do with Luigi posting. Air is just coming out of an equities market that's been hyper-inflated since before COVID.
- I fear that a manufactured depression is forming that will completely wipe out the remnants of the middle class (workers who own assets).
  
  Seems to be the intent

Given that Xitter is going down the proverbial toilet, I am surprised Reddt didn't see the risks in turning their platform into a right-wing cesspool.
- This is u/spez we're talking about here c'mon.
  
  Spaz IS a right wing cesspool. So it is to be expected

Not surprising seeing as theyve also been unjustly banning people again. Just got booted off the site today and was given zero explanation besides I "incited violence." The link to the supposed "violation" didnt work then when I asked in my appeal they wouldnt tell me anything. Im left to assume its because my politics didnt agree with the current regime.
- Musk has been pressuring them to go after critics of him, and the administration, and Reddit is capitulating. Cowards.
  I suspect it is because they want to buy TikTok, and they know HitlerPig will award it based on appeasement and the bribe.
  
  It'll be funny to watch them start lifting those bans when they realize bending the knee to fascists isn't gonna save the site. Oh well. They've shown their true colors as a platform.

I gave up the game there after 12 years... of mostly lurking though.
- I'm just trying to get permabanned for mentioning Lemmy and sharing my views on billionaires at this point
  
  Same bro I got a three day ban yesterday.

Last week, I got a 3 day ban from Reddit. The next day it turned into a permanent ban. Reddit claimed that it was due to a comment made about a video, showing a coach pull the ponytail of one of the girls on his team. While I don't recall what my comment was, as the father of a HS girl who plays sports, it bothered me, but as a man in his 50s, who played football in the 1980s, who periodically got his ass kicked by his coach, when he screwed up, it didn't bother me enough to say anything terrible. Of course, they deleted the post, and refused to elaborate. I've been supportive of Luigi, and have heard that Reddit was coming after Luigi supporters, so I thought that could be the real reason. Who really knows?
- I had a 12 year account and almost a million karma, and was permabanned after the inauguration for a comment i had made many times. I came to Lemmy and found i was part of a bloodbath.
  I've seen many people with bans on 10+ year accounts. We're the people who built Reddit. Somehow we managed to make thousands of posts for all those years without bans, and suddenly all of us posted lifetime-bannable posts in the same month?
  
  I was coming up on 4 years. I haven't brought myself to deleting the app though, as there are some good subs there. I've been here for less than 1 full day so far, so I have a lot of exploring to do.
- Crazy I know the exact video you are talking about. Wild that posting on that, of all things, got you banned.
  
  My teen daughters were both surprised, when I told them of my ban - like I'm some sort of subversive rebel they didn't know existed. They both laughed when I told them what Reddit said was the reason, and were both familiar with the video, from other sources. Life goes on. Less time on a screen can't do any harm.

I am proudly permabanned from reddit for telling people to punch Nazis.
- Punching nazis isnt mindless violence. Its violence against the mindless
- That was my first temp ban, years ago. I was shocked. You can't be pro-Nazi punching?
- I was permabanned for telling mods they have tiny peen syndrome.
- Banned from politics after someone said there was going to be violence. I said "the tree of liberty and all that, right?". Facism takes root when people self censor and over compensate.
- They permabanned my main and unrelated business account for saying I didn’t care that Trump said Liz Cheney should be shot. Apparently not caring is also “promoting violence.”
  Cheney is a warmonger who has called for the killing of millions in unjust wars. I don’t care if someone threatens her.
  
  Oh yea I was banned years ago for not caring when Herman Cain died. Previously they would do it temporarily (like when he died they went on a spree) but now it’s just permanent bannings for wrong think over there.
- I got a 3 day ban for agreeing that putin should die (after Selenskyj said it would soon be so) and the joking wish that his natural death also happens to his chosen successors.
  Now im here.
- Hey that literally just happened to me too.

shortly after the article came out talking about how Reddit is bending the knee to Musky's hissy fit, I received two notifications from Reddit; one, a 7-Day ban for "breaking multiple rules" but not telling me what actually happened, and after sending them an appeal asking what exactly I was banned for, I received the second notification, telling me that I was permanently banned for, again, "breaking multiple rules".
as far as I'm concerned, I'm finally free.
- They just told me I incited violence then kicked me out. No elaboration or anything. Now I'm here and finally free
- I've been banned by reddit many times, but they always coincided with disagreeing with a mod. They don't need to tell you what rules you broke when it was just a disagreement.
  
  I once got a banned from a sub for a comment I made in a completely unrelated sub. The Mod saw my comment, didn't like it, but didn’t have the power to ban me in that sub, so they banned me in theirs.
  
  The one time this happened with me was with Worldnews after I told some racist shithead making derogatory, sexist comments against third world women (specifically, the Philippines, where I'm from) to shut up and stick to gardening. Got permabanned from the sub AND a 7 day suspension from Reddit. Racist guy got no punish of course.
  So, it seems like this sort of thing commonly happens with big default subs, because I've never had a sub ban coincide with a Reddit suspension like that anywhere else.
- I just got a 3 day ban for saying that it's everyone's civic duty to doxx anyone they know involved in this current administration's nazi bullshit.
  I still stand by that, and as soon as the ban clears I'm going to be wiping my account and closing it for good. Fuck that place.
  
  I brought attention to some concerning moderation in spaces related to sex (and sexual assault recovery - a lot of subreddits are places for people to find victims to get them to tell their stories for “enjoyment”) and got some sort of IP ban a while back.
  Keep in mind there’s circumstantial evidence that Ghislaine Maxwell might have been a power mod too.
  
  Doxxing is against ToS and also just, straight up illegal lawfully in most places around the world, and wouldn't be acceptable even on Lemmy. So I don't really see that as an unreasonable ban, even if you had a good reason to say it.
- Commit Reddit suicide
  r/redditseppuku
  
  At least link to the Lemmy community:
  !RedditSeppuku@lemmy.world
- Sounds like they are panicing if anything

Wonder if anonymous will go after Reddit now

[ Removed by Reddit ]
- [+]
- It's funny cause I usually agree with the removed comments based on context lol

Ooopsie, there goes your money. Not exactly a good idea to cross your community, is it?
Free Luigi.

I mean there's little point to become invested in reddit when they're going skew that far right and then censor/delete and ban everything with appeals getting ignored.
Communities are having to over moderate. I can't even say Fuck Christians or Billionaires shouldn't exist without it being hate speech or violence, but rightiods get to spam their lgbtq hate. And the less said about violent Porn subs the better.
Truely a dark time 😮‍💨
- r/guro is still up r/beastlove probably is r/guroerotica r/dykebreaking
  Tons and tons of violent misogyny subs. There’s a family of them around “degrading women” or whatever.
  This isn’t necessarily an opposition to people enjoying dark themes in porn. But these communities aren’t even quarantined. The comment sections often are disturbing and violent in a way that even wishing Musk an enjoyable mission to the sun doesn’t compare. It’s naked hypocrisy.
  I think this is important. The fascists don’t have an opposition to porn, especially violent heterosexual porn. I’ve continued to hear about how Twitter is “good” for porn.
  
  Like with the gore subreddits (i.e watchpeopledie, eyeblech) those subs need media attention first before getting suspended for good.
  
  I think the craziest part about these dark porn subs is Everytime I mention this topic people know exactly what I'm talking about and then mention names, and subs I've never even heard of let alone want to comprehend.
  And people want to advertise on Reddit? honestly how has this not made more news?

Fuck Spez, and all that, but really, this chart isn't much different from nearly every stock for the same time period.
I think that dip has more to do with Trump creating uncertainty in the market overall than any specific Reddit trend/policy.
- Kinda...
  For comparison, the S&P 500 felt 4% on the period, Nasdaq felt 7%. So 30% is really noteworth, Redddit is one of the stocks pulling the index down. But it's not alone, and blaming it on any random cause isn't right.
  
  Yah, I was going to say the same thing. S&P not only dropped much less, it dropped at a different time and slope. S&P dropped in line with when Trump took office and has been relatively flat. Reddit has been on a constant decline since the start of the year.
  
  It's not going to be representative unless you compare it to the same cohort - tech stocks.
  
  Do you mean "fell"?
- Also, the uncertainty should have been strong in import export or related companies. Tariffs causing issues, right? Reddit should have been somewhat resistant to that type of speculation.

Federate. Anonymize. Consensus based moderation. Without that we succumb to tyranny.
- The problem with consensus is you can fake it pretty easily with a bunch of bots.

1Y +134%
- I was looking at that and the 5 year too but its got a weird huge spike frol the election peaking in early february and since that peak it's lost almost all of the value attained and its trending down. Probably still too early to tell but if it keeps going the way it is, within a month it will be losing value on the 1y. might atill have some percent on the 5y thoigh
- Check back in a month.

You guys are still using reddit?
- Lots of local discussion groups that simply don't exist on lemmy. I've tried getting them to move too.
  
  No good drug sub here either

Once upon a time I went to Reddit as a Digg refugee. Now I have come to Lemmy as a Reddit refugee.
- Your username just hit me right in the feels
  
  " you didn't really believe that did you?"
  Yes, I fucking did. And now I'm devastated to learn that cute harmless little hippos don't live in my house. 😭

IMO, anybody who invested is a fool. AFAIK the only user-generated content companies that have made the model work are Google (YouTube) and Meta, and that's because they're the advertising duopoly that controls the Internet. Maybe TikTok, but that one's a mess. Twitter couldn't do it, even before Elon they were a big money loser.
So, what does Reddit have that other companies don't? Nothing really. And now that they did their IPO their investors are going to start demanding growth, which means enshittification. But, unlike YouTube where there's no viable competitor, or Facebook / Instagram where there are network effects locking people in. Reddit users are mostly pseudonymous. IMO that also means much more likely to jump to another platform like Lemmy.
- I think Twitter did finally make some profit before Muskrat takeover, I remember reading a headline that it was finally profitable after 10 years or something
  
  I seem to remember that they were just barely making it on one measure, and failing heavily on another. Like, they were just barely cash flow positive, but had massive debts and weren't turning a profit. Or they were turning a profit on paper but their cash flow was massively negative.
  They're always measures that can be gamed. Like, you can be cash flow positive if you sell a bunch of debt for cash. You're temporarily cash flow positive but definitely not profitable. Or, you can sell a bunch of widgets and mark down the revenue, but since you're still waiting to get paid your cash flow is negative. That can be deceptive if you know a high percentage of sales are going to be returned.
- Their IPO was priced below $100, thus far the model still works. I'm guessing they'll go the way of facebook, with dwindling user engagement but somewhat stable ad revenue since people go there out of habit or through links from random google searches for obscure topics.
  
  But Facebook has network effects that basically lock people in. If they leave they leave their friends and family behind. It causes a collective action problem. If you leave, your friends and family stay behind. You want some way to move everybody all at once, and that's really hard.
  But, because Reddit is based on pseudonyms, people don't tend to form attachments the same way, at least IMO. That means you feel less locked in. As long as you can find people talking about those same subjects elsewhere, you aren't as locked in.
  In addition, Meta is part of the online ad duopoly along with Google. They're really good at monetizing their users. Reddit is just a smallish website and can't compete with that.
  For now, random google searches take people there. But, that's based on the idea Reddit isn't going to lock results behind a paywall / registration wall, or Google isn't just going to slurp up the results and present them so someone never has to click on the Reddit link.
  They're not below the IPO price yet, but they certainly aren't growing all that fast. They spent most of the time since the IPO barely moving, then they had a 3 month growth in their stock price, followed by a huge dip. The investors want growth, and growth requires enshittification, and enshittification will make people leave.
- Speaking of YouTube...I got banned yesterday for telling a troll he yapped like Pootang the Tiny's performing poodles. Apparently that was harassment and cyberbullying....
  
  Not that I agree with the ban but feeding trolls is a terrible pastime.

Please people, if you are going to look at stock prices, look back a year, two, or more. Reddit was slightly up from its 5 year point when in October 2024, like many other stocks, it wildly went up. It isn't yet back down to the pre-October level. Someone (Musk and fellow billionaires?) have been playing these markets since the last US election to game money out of everyone else. There was no value in the business to justify the jump, just a pump and dump scheme to graft money out of the lower classes/pension portfolios.
- This!!
  It annoys me so much when people show stocks of a few wees as evidence that a company is doing bad. You should look a year back or more.
  
  Go back and look at what people actually said. Because you decided to change the topic and then blame them for being ignorant, and I think that's disrespectful to them and embarrassing for you.
  
  How dare you ask people on the internet to have reading, interpretation and critical thinking skills and not just read the headline and immediately jump to conclusions based on superficial evidence at best?!
  
  The entire stock market is down, BUT LOOK AT THIS ONE STOCK WITH THIS ONE THING THAT 100% IS THE REASON!!

Luckily it's dropping again. Burn baby burn.

Reddit seems like the worst company to invest in. The only thing they have of value is content created by other people in the past.
It’s not like the other social media platforms where people get trapped there for various reasons. Companies stay on Twitter, for instance, because they have followers and marketing that depends on it. I stay on instagram cause my wife and kids share things as well as organizations.
There was nothing keeping me on Reddit outside of the content. I don’t need to be on Reddit to get that content. And enough people have left Reddit and started building that content on Lemmy.
- The only thing they have of value is content created by other people
  This works great for YouTube, but Google is arguably the biggest ad company in the world. Just because an ad company with a sideline in user-generated content can make it work doesn't mean that a user-generated content company trying to figure out advertising can make it work.
- Not if used as a propaganda tool, much like rmFB, YouTube,,etc

Meh, fuck em

The drop started right around the first wave of bans. Fuck Reddit.

1M chart doesn't show anything. We can see that the decline started on 7th Feb, together with US stock market in general. It has nothing to do with "Reddit siding with Musk".
- It does when you compare it to the market average.
  
  You can't make any decisions across one month only.

I left however many days ago my Lemmy account says - from being a daily user ^
So it was me that caused it.
- good job @sendprudes@lemm.ee
- You're gonna get so much ankle, hero.
  
  I hope my dude is sitting down somewhere alone

Maybe this is a dumb question, but how does the day to day health of the reddit community affect the stock price? Wouldn't a simpler explanation be that reddit stock is in decline like most other stocks right now because of the overall market uncertainty?
- I also thought the same but Reddit dropped a whopping 50% from Feb. That is abnormal compared the the decline in other stocks. But as for the reason it could be anything really, if you could know for sure you can make a lot of money.
- It could indicate that investors don't like these moves and see it as a risk for the future of the company. Or it could indicate that line goes up or down randomly, who knows, not the folks on wall street that's for sure.
- Stock indexes, typical stocks, are down about 10% from highs around that period.
- Stock prices are mostly speculation these days, thay don't reflect the actual financial standing of a company, but more the public perception of the company. People get pissed at reddit, dump the shares they were holding and the demand drops, so the price goes down. ...I think.

Federate. Anonymize. Consensus based moderation. Without that we succumb to tyranny.

Good, let reddit die. Conversations shouldn't be profitable.

Fuck /u/spez

lol. Cunts.

Losing after siding with a loser. Entirely predictable outcome.

https://programming.dev/post/27667403
It is being talked about over here from a Bloomberg / yahoo finance article.
- It they are linking to the Reddit's behavior?

The less I hear about that shit hole, the better I feel.

Good. Fuck em.

Must be some hell of insider trading, shorting the stock and driving reddit to the ground cause there is no other explanation why they would keep making more stupud decisions
- I know it's bizarre

Man is that overvalued as fuck.

https://youtu.be/_asNhzXq72w

I didn't even know they did their IPO yet - I knew they were planning it for years though.
- It's been slightly over a year since they did, IIRC.
  They also sent out a ton of spam messages to their members begging them to buy stock at the time.
  
  Yeah, it was funny to get that after I'd moved to Lemmy. (I keep my account open so I have control over deletion of comments)
- IPO = enshittification guaranteed

Are those the reasons for the drop though? I've been completely oblivious to this.

That's because we give absolutely, and that's verified, zero fucks about *eddit and his piece of shit, pretending to be a human being, of a ceo

Amazing - it's almost like people here DGAF about reddit or what happens to it.

♥️✨

Couldn't have happened to a nicer company. Cheers.

I would need to verify the timelines but I am pretty sure this has jack all to do with Luigi Mangione
And... maybe look at the stock market as a whole. Again, grain of salt without a proper analysis, but this doesn't look much different than the entire stock market that is constantly fluctuating as we wonder what industries will get hit the hardest by the hourly tariffs and which are going to get exemptions and so forth.
- I think it's plausible to have uncertainty as an investor given Musk pressured Huffman into censoring criticism against him. To me, seems like he has some pictures of Huffman that would make his jailbait moderating days look tame.
  
  You VASTLY overestimate how much anyone cares.
  The president is a rapist with multiple high profile affairs and strong ties to epstein's pedophile island. It took the better part of four years for people to decide that spending time on a twitter that was increasingly just pro-nazi rhetoric, snuff, and porn was a bad idea... and they only did that because a different corporate owned social media site finally switched to open registration.
  It doesn't matter what reddit leadership does or might have done. People will use the site until the Influencers switch to a different one. Simple as that.

Correlation doesn't imply causation
- Very true in all things
  
  What a damn minute...

Lol OP are you serious with this low effort shitpost? I'm all for shitting on Reddit but in case you've been living under a rock the past month, THE ENTIRE MARKET HAS GONE DOWN, OF WHICH ALL TECH HAS BEEN HIT THE HARDEST. I mean my God, what even is this community? Ya'll drinking the Kool-Aid here hard.

you need to compare this with the market as a whole. the whole market is dropping and it has nothing to do with this
- Pay no attention to the cliff, there are plenty of other gentle slopes around here.