Who's the moron that bought Yahoo for that much? Anybody using yahoo mail is going to be dead or not need email in 10 years and yahoo answers doesn't exist anymore.
the way they took away awards, even old awards, was so fucking stupid and demeaning to the site as a whole. i don't see anyone using awards at all anymore
Now why, (me doing a Jack Benny impression): why, ya see - why would I go and buy stock in a company that hated everything I ever posted, and then banned me for saying that progessive thought is a good thing. I ask you.
NO - you would need a power level to be over 9000 for that.
This is half that. So you have only half control of the Universe. Like, you have to submit a request to your boss to use your power to do anything, but then he/she gets to either accept or deny your request. Requests must be submitted in triplicate and accompanied by a notary public cosignee signature. Other terms & conditions apply. Also, Huffman has veto power, and your requests may be lost or ignored at any time - but if YOU ever lose or ignore a reply in turn, then you are banned.
Hmmm, only half control of the Universe would be only half realizing my ambitions. It would be going at it half-assed - and I wanted to use my WHOLE ass this time!!
Guess I'll have to buy more shares since I must control not just Earth and Neptune and Jupiter, I want Uranus as well. (!).
As long as we are still talking about Reddit, I want you to have Huffman's anus as well:-). Have you tried sending him a picture of you dressed up as Elon Musk? Maybe you could become friends with Musk first, by sending him a picture of you dressed up as Donald Trump? :-P
Reddit is planning six tiers of early access based on each "participant's contributions to Reddit," the company said in its updated SEC filing. Those tiers are based on a user's "karma" score, ostensibly an aggregate total of up/down votes on posts and comments.
The first tier of users will be those "who have meaningfully contributed to Reddit community programs," though what that means isn't explained more clearly. After that come tier 2 users, who must hold at least 200,000 karma points or have taken at least 5,000 moderator actions. Tier three includes users and moderators who hold at least 100,000 karma points and have taken 2,500 moderator actions. Tiers 4 and 5 are each half of the previous tier's total, and tier 6 includes everyone else, with a waitlist available if the total number of shares purchased exceeds the original 1.76 million.
Basically people who karma farm with low effort posts. This will only encourage low quality posts.
I got offered a while ago and I had 1,500 link and 0.5M comment karma after a decade. I was never a moderator or did anything important. I can't imagine that was considered meaningfully contributed. At least I hope not.
I got invited with just a bit over 100k; I considered it, just out of 'fuck it, why not' but didn't follow through. I have like 6 posts of maybe, maybe 300 upvotes combined, the rest is comments; either helpful, amusing, but not really 'meaningful'. Account since 2013, lurker for a while before that. Though I got out of my shell and shed a ton of social anxiety with those comments, so personal growth woo.
I'm really curious about how it's going to launch, and the first few months.
The best part is that this whole thing is about having the "opportunity" to purchase reddit stock at its IPO price. This user generated content farm wouldn't dare give away equity for free to users responsible for the site having any past, present, or future value.
I'm not a finance person, but the only gambling I'd do on this company is hope that Wall Street pumps the price post-IPO so I can short it.
My understanding is that the value of each reddit user is priced roughly at $2. A Facebook user is priced at roughly $40. Their only options to maybe be profitable are more enshittification, more users, or both. Or, you know, not paying hundreds of millions of dollars to the execs of an RSS feed with voting and comments.
I bet wallstreetbets is going to pile into shorts out of the gate because who doesn't want to stick it to reddit and its WSB lol. Then after a slumpy start some whale is going to blow up all those shorts and pump it like crazy and then everyone will buy panic calls and the early ones in will fade the top and screw over the call buyers on the way back down. Thats my prediction. Not touching this with someone else's 10 foot pole lol
I got the you’re invited to the IPO email from them and said, Fuck you Spez, as I deleted it; god that felt good. I hope they short the ever loving hell out of it.
A Reddit user is $2 now, but they have terrible ad targeting. Reddit users volunteer troves of info about themselves, so even a modest effort to start tying all those user signals together could be a great boost to that number (which really wouldn’t take much). Plus monetizing that base for LLM data and you got a stew going. They’ll of course do the cash grabby enshitifying stuff too, but their user data is much more underutilized than facebooks at the moment.
As someone who was invited to that first group and told them to go fuck themselves, it's actually mostly people who have participated in reddit surveys and reddit mod meetups (where mods from a local area get blasted on Huffman's dime). Almost every mod that I know that went to one of these events got an invite and all of them gave similar answers to me.
Also, 200k karma isn't a ton. It likely places you in the top 1%, but most people don't participate anyways. I had over 300k (I think, I'm not checking) and maybe 1k was from a single post. Everything else was from the occasional comment
For the first group though they didn't actually bother to look into them. The 2 subs I ran have both been private since the last priest despite numerous warnings that I'd be removed if I didn't make them public. And my subs participated in numerous protests before then.
I'm considering buying a few shares (if I can grab just a few) just to watch it burn. And so I can be part of history. Or I'll wait for it crash after the ipo and grab a few as a likely to never profit but might type of play.
You guys really are no fun. I'm not going to throw thousands at them but if robinhood or sofi or whoever will let me grab 5 or less shares, I may make it happen. It's also likely to be a longer term profitable trade if the stock tanks (as I am sure others already expect) and then reddit gets bought out by musk or even openai.
One last edit and then I'm done here. I bet every one of you here is a broke mofo crying about your utilities, groceries, etc going up while you're income stays stagnant. You have fun with that.
Clearly you aren't doing it right. Me buying shares is a death knell for companies. I'd be surprised if my broker doesn't give companies a courtesy call when I've bought a few shares to let 'em know the company's about to go under.
At the very least, me buying shares in a company makes certain it will never rise any higher than at that share price, not until right after I’ve sold my shares.
If you watch many IPO, you will see it spike quickly then a large dump after that. I know the last IPO I was part of, we couldn't sell for several days after the IPO.
Days? When my company went public employees couldn't sell their stock for several months. And as soon as we could the price tanked, because everyone wanted to cash out.
The selling was understandable, having 80% of your net worth in a single stock is scary, but hundreds of first-time stock owners doing a fire sale didn't do the stock price any favors.
I read the Reddit S-1, the lock-up period is three days. Yeah, I'm a nerd, but in this case it was more just wanting to know how long Huffman et al will be forced to sit and watch the stocks freefall before they could ditch them, lol.
I want some, if nothing else as a souvenir of all the time I spent there before the place turned to shit. Too bad nobody makes actual certificates anymore, I would pay extra to get a few shares in certificate form.
No way I am paying that much for it. The true value is probably much closer to $.30 than $30.
Options come with the obligation to pay for the underlying asset, so unless they are valued above the strike price, they are effectively worse than worthless.
Face value is unlikely to be the amount reported - I doubt the options are granted below the last reported market rate. Hence it's probably relative to the amount of underlying stock the options represent.
You'd have to check the SEC-filings for more accuracy than that.
Less than worthless would be when exercised, not exercising would be worth 0 - unless you paid for the option contract, in which case not exercising would represent a loss.
