But about as democratic as can be. No one was forced to buy Reddit. Benefit or not to the company, the company was essentially sold. The new owners of their very own choice will want a return. A big return to essentially cover 8 billion they just paid for it.
Reddit will need tens of billions in revenue to make the profits those new owners will demand. It is that drive to justify the cost that will make it another shitty bloated ad platform.
Their capitalization was I believe around 8 billion. This is the number they need to understandably recover from an investment point of view. If I was an investor in a risky type of investment like this. Risky mainly in that it could be a dog forever, I would want to see 25 prevent profit in their financial statements relatively quick.
I am saying this all from an investment point of view of the people that now own it. More or less, Reddit needs to start showning profits of some 1.6 billion a year. That likely means they need 10 or 10s if billions in revenue per year. That will give you an idea what they will be developing and how advertising will need to be excessive. They will go the way of tiktok and other platforms in that emotional and divisive algorithms increase viewership.
Was a part about a cop being ambushed and murdered few weeks back. There was quite a few posts and every single one of them were gleeful. I was happy to get down voted.
Or look at the response to anyone that might be republican. Unless you have the same opinion and echo back that, it is pretty caustic. Personally I like to hear from people with different opinion as it keeps your brain flexible but you will see little if that here.
What universe are you in? Lemmy is far more caustic when it comes to politics. Is a bit embarrassing to tell the truth.
It further locks you into Reddit’s garden. And they also ensure the content remains available. If you want to link to it, can forces you to utilize their interface.
At the time I was a bit puzzled but totally makes sense.
I find Lemmy quite a bit more toxic then Reddit and that is bothering me. Was on a post where a cop was full up ambushed and murdered and every single post was praising it. And there was over a hundred posts so not just a couple of wing nuts. Then you got the tankies and a great number of immature posts. Then you got the extreme left leaning slant attitude on every subject that pretty much creates echo chambers along with mods that will shadow ban. Technically working well, administratively and quality wise the experience is pretty low.
Yes I am familiar with that and heard that argument before. It does provide some other functions that can negate some of the proof of work. But it is also subject to proof of work to a lesser degree but that means it will also hit some equilibrium. Will that outweigh the benefits it provides and this be ultimately viable and more important, environmentally viable? With my experience in it, I am dubious.
Worse, it’s value is based on the work it requires to grow/maintain it. And that work is based on how much electricity/world resources it uses. Aka. Bad for the environment. And if you were to make say a new crypto currency that used far less processing power, that would be less work and thus have little value.
In other words, you can’t fix the crypto currency problem of massive energy usage without destroying the value of it. When Bitcoin does die, it will have emitted millions of tons of green house gases while providing very few real services/transactions.
Should have gave Lemmy a mention.
Possibly we should all occasionally contribute shit posts to Reddit.
So hope e creater of RIF creates LIF.
And if it is still going in Reddit, make a post and link that it is now in Lemmy.
Shorting is a very important and good mechanism to bring prices back down to earth for any stock. Without it, you would see even higher valuation of which ultimately will be corrected to real financials and valuations. Be it one week or one century. And without shorting, there would be even more l people making dumb investments and intimately being bag holders.