this post was submitted on 31 Mar 2025
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Summary

Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.

Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.

Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.

Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.

Non-paywall link

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[–] foggy@lemmy.world 203 points 2 days ago (5 children)
[–] RedPostItNote@lemmy.world 80 points 2 days ago (3 children)

Reddit is not coming back. I know when a site is dead

[–] CheeseToastie@lazysoci.al 34 points 2 days ago

Yep it's been slowly declining for years. There's no coming back from what a shithole it now is

[–] carrion0409@lemm.ee 19 points 2 days ago (8 children)

God I hope you're right. Nazi Spez and his chud admins are gonna be shitting bricks when they realize elon isn't bailing them out.

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[–] Apple87sagan@lemmy.world 25 points 2 days ago (1 children)

Bye bye....officially deleted my reddit account. Enough interaction on here I can 100% make the plunge now. Sad because I have been there so long. But I rememeber when digg died, and its time to move on.

[–] foggy@lemmy.world 16 points 2 days ago (2 children)

I was there for diggs death. I was a young college student.

I held off on Reddit and enjoyed a lack of that style of addiction for like 2 years. Then slowly reddit consumed me.

I haven't been back for anything but porn since the API-pocalypse.

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[–] MuskyMelon@lemmy.world 174 points 2 days ago (4 children)

Lets take a platform driven by community participation and ostracize community users. Yeah that'll work out well.

Reddit getting Digged and me likey.

[–] RestrictedAccount@lemmy.world 38 points 2 days ago (1 children)

That is a deep cut reference. They are relaunching as an AI play.

That will bring back the people who were providing the free content.

(/s on the last part)

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[–] arrow74@lemm.ee 23 points 2 days ago* (last edited 2 days ago)

Yep the train from being offered early access to their IPO as a "power user" to a permanent account ban did not take long.

So here I am

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[–] Madrigal@lemmy.world 125 points 2 days ago (3 children)

Aww, did Spez trade the family cow for some "magic" beans?

Good luck rebuilding the farm now, buddy.

[–] Talaraine@fedia.io 32 points 2 days ago

My parting message to Spez when I changed all my posts was, "Enjoy the IPO asshat!" While I wish I could update that message, it'll still do. xD

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[–] 52fighters@lemmy.sdf.org 97 points 2 days ago (1 children)

I remember the early days of Reddit when it really felt like a community project. Back then, they had the goodwill necessary that Redditors would have personally financed a chunk of the costs of running particular Subreddits. Not anymore. That goodwill is gone.

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[–] antisocialite@lemmy.today 86 points 2 days ago (4 children)

The censorship going on there is crazy. I understand a site needs to tamp down on violent rhetoric but they crossed the line into absurdity. They banned me for calling out the racism in the GOP platform.

[–] avidamoeba@lemmy.ca 57 points 2 days ago (8 children)

You sound like a far left lunatic. Welcome to Lemmy!

[–] carrion0409@lemm.ee 16 points 2 days ago (5 children)

Hey that's why I'm here too lol

[–] imvii@lemmy.ca 23 points 2 days ago (2 children)

Same. 11 year old account got banned for saying something. I'm not even entirely sure what it was. They deleted it and gave me the finger.

Fine with me.

[–] carrion0409@lemm.ee 20 points 2 days ago (1 children)

I had my account since the pandemic and I got one 3 day ban for "inciting violence" a few weeks ago and they didnt tell me what I actually did. It was lifted so I moved on and kept following the rules. Then a day after the article about spez caving to musk came out I was given a perma site wide ban for "inciting violence" with no working link to what I actually did. The admins wouldn't tell me either. I assume it's because of my activity in left leaning subs and my comments calling Musk a shithead and saying his toy cars are garbage.

[–] antisocialite@lemmy.today 19 points 2 days ago (2 children)

They'll sweep ban entire comment sections of a submission they don't approve of and they're using AI to do it, so there are lots of false positives and dubious reasoning. They'll send you a message lecturing you on your behavior but delete your comment so you're left with only a vague idea of what they're referring to.

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[–] samus12345@lemm.ee 30 points 2 days ago

I have to admit I never thought they would punish users for simply upvoting content that went against their corporate overlords' interests. True thought policing.

[–] Trihilis@ani.social 18 points 2 days ago

Reddit. Free speech*

*only if your free speech aligns with our interests.

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[–] TomMasz@lemmy.world 86 points 2 days ago (1 children)

Spez fundamentally misunderstands what Reddit is and who it belongs to: the people making the posts and providing the content. The more he alienates the users, the less value Reddit will have. He's shot himself in the foot and he's getting ready to fire again.

[–] brucethemoose@lemmy.world 38 points 2 days ago (1 children)

Oh he does, he just doesn’t care.

The line goes up, then you sell out to some anticompetitive behemoth to eat before it implodes. That’s how it works.

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[–] aramis87@fedia.io 63 points 2 days ago (1 children)

It's not just the AI bubble, it's a distinct lack of faith in Huffman and as a CEO. He's not forward-thinking enough, he hasn't understood where the company's value lies, and he's ridiculously distracted by the latest shiny tech things (reddit NFT avatars, reddit crypto, reddit AI).

I fully expect Google to buy reddit at some point, exclusively harvesting all the info for their search engine, all the content for their AI models, and all the submission/view/voting data for their user profiles (what are you interested in, what do you think of these concepts, where are you connecting from, here are more ads we can send you, and these are arguments that might sway you in purchasing or other decisions).

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[–] Formfiller@lemmy.world 60 points 2 days ago (1 children)

Tends to happen when you ban all of your users

[–] Trilobite@lemm.ee 16 points 2 days ago

He listens to swatsticars guy why would any care any more

[–] catloaf@lemm.ee 53 points 2 days ago (9 children)

If you deleted your content, reminder to go back and check it again. Despite running a deletion from my GDPR export data, yesterday I noticed a bunch of comments suddenly showing up on my account that weren't there before so I i had to rerun the deletion.

[–] tiefling@lemmy.blahaj.zone 20 points 2 days ago (1 children)

Is there a way to delete your data if you've been site banned?

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[–] SuiXi3D@fedia.io 51 points 2 days ago (1 children)
[–] werefreeatlast@lemmy.world 24 points 2 days ago

Look, we can all laugh at that guy. That's it, that's the end of my comment.

[–] Fingolfinz@lemmy.world 47 points 1 day ago (5 children)

Spez can suck a taint. I was on there forever and immediately bounced once that bullshit banning stuff started happening. Should have left sooner but that was the final straw

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[–] gencha@lemm.ee 40 points 2 days ago (1 children)

A "dip" is when the stock goes back up. This is a correction

[–] Zombiepirate@lemmy.world 28 points 2 days ago (1 children)

I thought a "dip" was the CEO of Reddit.

Looks like we're both right!

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[–] grrgyle@slrpnk.net 39 points 2 days ago (7 children)

Their only utility now is in five year old comment threads discussing niche topics, and that can only stay relevant so long.

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[–] mrgoosmoos@lemmy.ca 38 points 2 days ago (4 children)

lol. It's only going to get worse. The site used to be the top place to look something up, now it's just going to be full of deleted answers and disappointment.

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[–] ShittDickk@lemmy.world 38 points 2 days ago (9 children)

Maybe if they didn't ban their (majority) liberal users for having "opinions" on the current government, after nonstop rhetoric from conservatives.

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[–] Fedizen@lemmy.world 33 points 2 days ago
[–] Ironfist79@lemmy.world 32 points 1 day ago (5 children)
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[–] formulaBonk@lemm.ee 29 points 2 days ago

Well the ipo brought enshitification at max speed so that’s not surprising. They ostracize and remove users who contributed to communities for a decade+ and then replace the long standing communities with a generic, Reddit controlled alternative that only reposts all time top posts to gain traction. The only thing Reddit has going for it is the user content which is rapidly getting buried under AI slop. Worst of all (for the investor class) you can’t really see Reddit being turned into another right wing cesspool to bait young men into violence with … so there really seems to be less and less reason for Reddit to exist. Let’s hope by 2030 it’s like one of those websites people say “remember when we had Reddit …”

[–] MithranArkanere@lemmy.world 29 points 2 days ago

Everyone with half a brain knows that enshitification and pandering to CEObro echo chambers result in the platform losing large amounts of users or even dying.

[–] barneypiccolo@lemm.ee 29 points 1 day ago* (last edited 1 day ago) (1 children)

After the Inauguration, they had a bloodbath in February, permabanning many long-term, high karma accounts like mine (12yrs, 900K+).

These were the members who built Reddit into what it was, and after over a decade of high volume posting without getting banned, suddenly all of us made comments that earned permanent bans in the same month. Yeah, that's plausible.

Now that they've ejected many if the members that made Reddit a lively place to debate, they're stuck with novelty accounts, puns, bots, Russian Karma Farmers, shitposters, trolls, and general bullshit. I just went over to read some subs I love, and literally the first post I read was complaining about how long they had to scroll to get past the stupid puns to get to the real discussion.

Its been getting increasingly bad for a long time, but apparently it's gotten far worse lately, now that they decided to get rid of the red meat and go vegan.

I like Lemmy, but they don't have anything close to the active guitar forums that Reddit had.

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[–] Lucky_777@lemmy.world 26 points 2 days ago (1 children)

Found a picture of avg Lemmy user blasting their Reddit accounts away.

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[–] SnowzSan@lemm.ee 22 points 2 days ago (2 children)

Exactly why I'm here.

All the American rhetoric that gets shared about how theie government is becoming facist but any call to action or talk of action is instantly bannable.

Fuck Reddit.

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[–] satans_methpipe@lemmy.world 21 points 2 days ago (1 children)
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[–] drmoose@lemmy.world 20 points 2 days ago (1 children)

Honestly reddit is still underrated in terms of social media value but it's a doomed platform from management pov. Its just so leaderless and spineless rn.

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[–] Sibshops@lemm.ee 19 points 2 days ago (1 children)

Reddit has it's problems, sure, but I just feel like the fediverse is a fresh of breath air.

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[–] Poayjay@lemmy.world 17 points 2 days ago (2 children)

Talk about failing to pivot. Reddit was in such a good position to ride the AI bubble. Too bad all of their content had already been scraped. They then alienated their power users and casual users got a peak behind the curtain. New, interesting things don’t start on Reddit anymore. The entire front page is just trump articles and reposts. You can predict all of the top comments because it is the same shit over and over.

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[–] El_Azulito@lemmy.world 17 points 1 day ago (9 children)

I still have no idea why I got permanently banned. The interestingasfuck subreddit said I had multiple violations across accounts—something vague about participating in the Trump subreddit. Apparently, if you so much as post in that subreddit—whether you’re agreeing with them or talking shit to the MAGAts—then go back to interestingasfuck or any other sub with the same rules, they’ll permaban your account. And not just that one—they’ll ban any new accounts you try to make too. So honestly… I guess I DO know why I was banned, but compared to the vitriol I’ve seen on there, mine was not warranted. I’ve even appealed. Fucking hate Reddit now. Cowards.

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[–] drascus@sh.itjust.works 16 points 2 days ago

I hope people keep buying and that it keeps losing money. I hope all these assholes investing in it lose a shit ton of money.

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