this post was submitted on 18 Jan 2024
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Is it even worth anything to investors anymore at this point? Huffman kind of destroyed any faith anyone had in Reddit, seems like it's just going to slowly turn into an ad distribution service to scam people who don't know any better lol
There's always some value to vultures (and vulture capital) that want to pick over the pieces. It might even still have meaningful value as an ongoing social media platform. But the expected IPO value has dropped heavily in the past few years, and is likely to keep dropping. This really isn't because of anything at Reddit, but of the financial markets in general.
The big question is how will investors feel about the potential for returns, i.e. revenues. I expect to see (well, read about) a whole lot of enshittification over there. Much more data mining, ads, freemium features, etc.