this post was submitted on 28 Mar 2025
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The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure.

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[–] db2@lemmy.world 397 points 3 days ago (7 children)

Gee, that's too bad. It would be a real shame if that piece of human garbage Steve Huffman lost everything. A crying shame.

[–] ceenote@lemmy.world 179 points 2 days ago (3 children)

Sadly I'm sure he already has a golden parachute prepared.

[–] Diplomjodler3@lemmy.world 163 points 2 days ago (2 children)

They all cashed out after the IPO. They're probably laughing at the bag holders right now.

[–] namingthingsiseasy@programming.dev 38 points 2 days ago (2 children)

There may still be lawsuits, however. There are still many ways that he could lose a lot of what he gained.

[–] db2@lemmy.world 30 points 2 days ago
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[–] Cruxifux@feddit.nl 68 points 2 days ago (6 children)

I can’t even think of a time in history where someone was a huge piece of shit in America and “lost everything.” Maybe R Kelley, P Diddy, and Bill Cosby? But only for the time they spent in whatever rich guy jail they got to go to and then they were fine.

[–] TheFeatureCreature@lemmy.ca 67 points 2 days ago (9 children)

Elizabeth Holmes comes to mind. She manoeuvred herself into a position of wealth and power by defrauding other rich people and got herself 11 years in prison for it. That's 11 years more than most other rich scumbags get.

[–] billiam0202@lemmy.world 58 points 2 days ago

And that just goes to show:

The only time rich people are held accountable in the US, is when they fuck with other rich people's money.

[–] deranger@sh.itjust.works 33 points 2 days ago (4 children)

The most bizarre part of the Theranos scandal is that any medical lab tech/scientist could have told you, right from the initial pitch, the entire thing was a massive scam. There was literally no reason to ever think this technology was feasible and a mountain of reasons it wasn’t.

[–] cubism_pitta@lemmy.world 32 points 2 days ago (1 children)

Elizabeth Holmes only got in trouble for lying to people who should've done their "due diligence"

The patients / families of the patients that Theranos lied to and mislead never got justice.

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[–] _stranger_@lemmy.world 31 points 2 days ago* (last edited 2 days ago) (5 children)

Madoff died in a jail cell, that's gotta count for something.

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[–] dparanoidandroid@lemmy.world 194 points 3 days ago (18 children)

Hey fam, I’m another Reddit refugee. I heard Lemmy is what Reddit was back in the day. Sad to see Reddit go to hell.

[–] doug@lemmy.today 102 points 2 days ago (9 children)

The Voyager iOS App makes it feel like I never left.

[–] pleasegoaway@lemm.ee 88 points 2 days ago (5 children)

Reddit refuge here.

I do miss all the niche subreddits. As the saying goes, “there’s a subreddit for everything.”

But I think with time, Lemmy can grow to fill that gap.

[–] doug@lemmy.today 47 points 2 days ago (8 children)

You gotta Field of Dreams it. I’m doing it for LV426/the Aliens universe. Just treat it like you’re starting a forum or a newsletter and, hopefully in time, others will contribute and it’ll grow organically.

[–] match@pawb.social 30 points 2 days ago (5 children)

You're right

it's time for me to post the weird porn

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[–] bigb@lemmy.world 37 points 2 days ago

More or less. There aren't as many bots, and everyone is generally aware of traditional Internet etiquette (i.e. don't be an asshole). Lemmy also feels as homogenous as early Reddit: college-educated white people in western countries.

I started joining forums back in the late nineties and I've learned every place on the Internet is in flux. Things always change. Back in the day, stuff would happen like we would lose hosting because someone got sick of running a niche phpBB forum or the moderation team would change. When social media kicked off, changes were driven by money. Facebook was a big gaming platform in my college years (Farmville), which feels completely foreign to today's Facebook.

The smaller the community, the more stable it is. Some of those 20-year forums still exist, albeit in a much more diminished state. If a site/platform gets popular, that's when things can change quickly.

Lemmy has already changed since I joined and I'm sure it will become something different in the future.

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[–] iridebikes@lemmy.world 161 points 2 days ago (5 children)

I left Reddit today. I'm not looking back. I'm absolutely done with these organizations that bow to fascist whimsy and demands. Pathetic stuff from Steve and the admins at Reddit. I hope their stock tanks and they lose their ass.

[–] Ironfist79@lemmy.world 68 points 2 days ago* (last edited 2 days ago) (5 children)

Reddit banned me for saying mean things about Elon and I'm not going back. Good riddance.

[–] Coyote_sly@lemmy.world 47 points 2 days ago* (last edited 2 days ago) (4 children)

Same reason I left. Why hang around to get yelled at by bots about "living in a liberal Reddit echo chamber" WHILE the entire site is sucking fascist dick the entire time?

I remember when I got banned for saying that hey maybe it isn't hate speech to say that Israel shouldn't murder children.

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[–] Vanilla_PuddinFudge@infosec.pub 142 points 2 days ago (5 children)

I feel like I have simpler reasons for leaving Reddit.

The third party apps quit working and the site and app run like shit and take forever to load.

Simple problems, simple solutions.

[–] Melvin_Ferd@lemmy.world 60 points 2 days ago* (last edited 2 days ago) (2 children)

I left because once you see that most posts are just commercials and advertising and then you realize how they sell our attention span instead of paying us for it then I left. I don't work all day just to come home and make someone else money. Cut me in or eat shit.

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[–] shinratdr@lemmy.ca 40 points 2 days ago (10 children)

That’s actually the main reason most left, Lemmy has never seen a bigger increase in MAU before or after the death of 3rd party apps.

Not to say the other stuff isn’t important, but for me Reddit WAS Apollo. Without it, it didn’t even feel like the same service. Enough people felt the same about their preferred apps that they left en masse in 2023.

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[–] Cocopanda@futurology.today 133 points 2 days ago (17 children)

They’ve banned all of the good people that made up the site. I used to do Secret Santa. For 10 years! And I had mothers thank me for making their kids holidays. And they banned me. Because I made a death joke about how old McConnell was. Dude looks like death walking. Prove me wrong.

I was a good user. Dark humor isn’t hurting anyone. Reddit will die. Just like every other popular site.

[–] Krudler@lemmy.world 44 points 2 days ago* (last edited 2 days ago) (19 children)

I was sign up number 3. I emailed Spez his own source code because he had the error reporting on his Web Server set to "VERBOSE".

I was permanently banned for an answer in an AskReddit thread that amounted to "what is true in your line of work that you can't say". My answer was that (edit: as I work in a highly female-dominated field of social work 30 women for every man).... non-males are insanely violent and one of the huge lies that is held in the public consciousness is that "men are the violent ones" when the reality is all people are violent, and there's a tremendous amount of IPV especially in same-sex partnerships. Banned for "advocating violence".

Edit oops I edited the wrong comment lol

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[–] viking@infosec.pub 35 points 2 days ago (3 children)

I left with my 14 year old account after they banned third party apps. Moderating large communities (1M+) with the official app was impossible, and I was moderating 3 of those, plus a bunch of smaller ones. I did Secret Santa 4 or 5 times (move countries frequently for my job, so it wasn't always feasible), and still have the Guinness World records certificate somewhere, plus a lot of free merch from the mod appreciation giveaways back when they weren't a shitcorp. Leaves quite the bad aftertaste.

Pretty sure that by now I'd have been banned as well, I never held back with dark humor and speaking out against evil corpos. In a way I'm glad I left on my own terms before it all went fully to hell.

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[–] redwattlebird@lemmings.world 130 points 2 days ago (2 children)

It's always been ridiculous to me that what is essentially a forum has shareholders. That's why I left Reddit during the app debacle and haven't looked back.

[–] quack@lemmy.zip 95 points 2 days ago (9 children)

Corporate social media was a mistake. Genuinely, I lay a lot of why the state of the western world is the way it is at the feet of Zuckerberg and his peers.

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[–] PerfectDark@lemmy.world 119 points 2 days ago (5 children)
  • Removing the messages option and instead replacing it with their stupid DM chat system, even for modmail

  • Stating that later this year they're going to introduce walled off paid sub-reddit

  • That live stream nonsense they had a couple of years back

  • Their A.I. answers integration

  • Censoring users who mention 'eat the rich' and the name Luigi

  • No longer allowing moderators of their own sub-reddit to change a sub's status to NSFW (after the protests, obv), now requires admin to do this for them if the deem it appropriate

...who'd have guessed that these decisions were shit. Not the community who told them each time, again and again, right?

Fuck you, Reddit

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[–] flop_leash_973@lemmy.world 106 points 2 days ago* (last edited 2 days ago) (3 children)

Once a company becomes publicly traded it always gets worse. Once the shareholders are closer to the executive compensation packages than the customers/users it is all downhill. It is like clockwork.

Might take a year, might take 10, but the result is inevitable.

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[–] CaptainBasculin@lemmy.bascul.in 78 points 3 days ago (23 children)

at this point Elon should buy it too, drive it to ground like Twitter.

[–] Xanza@lemm.ee 77 points 2 days ago (1 children)

Huffman needs exactly 0 help to run reddit into the ground. He's been doin' it for years.

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[–] RedFrank24@lemmy.world 65 points 2 days ago (5 children)

I'm not sure why anyone would ever buy Reddit stock. There is no money to be made in Reddit. They failed to make any money before they went public, and they're failing to make any money now.

They tried the whole NFT thing, failed. They're trying to sell the data to AI companies but once that's sold they can't sell any more of it because the benefit of Reddit data was historical data unpolluted by AI, but new Reddit data is polluted by ChatGPT posts and is therefore worth less.

It's not even about banning people, it's about the fact that Reddit was never a sustainable business model from the start, at least not in the traditional capitalist sense where you're actively trying to make a profit to please shareholders.

The only benefit to owning Reddit stock is if you have voting shares and can manipulate the algorithm to benefit you in some way. Suppress some voices, amplify others to back what you want to do etc. but you need money to burn in order to achieve that because you aren't going to be making money directly by owning Reddit stock and manipulating public opinion takes time.

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[–] DrFistington@lemmy.world 62 points 2 days ago (19 children)

Seems like putting your efforts behind censoring and banning your user base while simultaneously trying to give a pass to a facist oligarchy is a bad idea. That's the thing about oligarchy, it's a small club and if you weren't already in it, you're not going to be any time soon. Facebook and Xitter don't want to share the money from ads and adversarial state\private actors

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[–] Cruxifux@feddit.nl 61 points 2 days ago

They’re permabanning everyomangionene who says anything good about Luigi Mangione, who is literally the greatest hero of the year in America, if not the decade. What did they think was going to happen?

[–] Formfiller@lemmy.world 44 points 2 days ago (1 children)

Maybe it’s because they banned all of their users

[–] some_designer_dude@lemmy.world 41 points 2 days ago (2 children)

Soon it’ll just be bots banning bots.

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[–] wise_pancake@lemmy.ca 42 points 2 days ago (3 children)

Reddit has very weak leadership in my opinion.

I wouldn't be betting on them, especially when their user base is going to want them to stand up for them and the Elon fiasco shows Spez won't.

It's a tinderbox before the next large Reddit protest happens again and more niche communities splinter off to the fediverse.

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[–] surph_ninja@lemmy.world 36 points 1 day ago

I’m fairly certain they misled investors on their last earnings call. I noticed some banned accounts suddenly had their ban lifted right before the call, and then reapplied right after.

On the last investor call, they said they had a lot of returning users. This was after their election ban hammers, and prior to the Luigi ban fest.

Can’t wait to see how they try to spin things on the next one.

[–] supersquirrel@sopuli.xyz 33 points 1 day ago

One man's slowing growth is another man's hardening growth (me, from reading this headline).

[–] DoucheBagMcSwag@lemmy.dbzer0.com 33 points 2 days ago* (last edited 2 days ago) (2 children)
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[–] hikuro93@lemmy.ca 33 points 2 days ago

I mean, with all the censoring and pandering to Musk, allowing for entire bot swarms to the point it really becomes obvious it's happening - who could have predicted this?

That's right, kids. Allying yourself with fascist tendencies in any way, shape or form will hurt you in the long run. Just provide the damn service people are looking for and stop playing god, trying to use your platform to shape opinions and censor statements you or your buddies don't like.

[–] _druid@sh.itjust.works 33 points 2 days ago (8 children)

All I use reddit for is porn now, so the ads are really easy to spot. Like if I see someone trying to show me tupperware when I was just looking at goth girls and femboys, I know to keep scrolling.

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[–] dota__2@lemmy.world 32 points 2 days ago (14 children)

lmao, they tried to suspend my account for "harassing" a scam post.

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[–] carrion0409@lemm.ee 32 points 1 day ago* (last edited 1 day ago) (23 children)

Good. I got banned just today for "inciting violence" then when I asked what I did they couldn't tell me. Musk pressuring spez into harsher moderation is probably part of why I was actually banned. I followed every rule but was active in left wing communities and it seems that's enough to be deplatformed under the trump regime.

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[–] cm0002@lemmy.world 31 points 2 days ago (13 children)

Oh no! Anyways, what's everyone's Friday plans?

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