Reddit is expected to be listed on the New York Stock Exchange in March.
This is one of the more scathing pieces to come out on Ars about Reddit. As the site did not respond to inquiries, all that was available to report on was profoundly negative statements that Advance is unlikely to enjoy seeing.
I kind of doubt they expect it to make that much of a difference in whether people stay. Rather, I suspect it’s mainly an attempt to make a buck selling overvalued shares, and maybe drive up their stock price a bit in the process. They can also try and spin it as a gift, which they clearly are already.
And their target is specifically people who likely can’t think about Reddit, the company, objectively because being on Reddit, the website, is such a large part of their personality.
The most charitable read is that it’s an attempt to build hype among powerusers by letting them own a piece of it.
In a vacuum, that’s actually kind of nice.
A less charitable reading is that they’re targeting the users who have flukes and blowholes to try and get even more money from them as part of a media campaign to make it seem like they truly value those users.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@beehaw.org
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Is this an attempt at locking in users because now they have financial incentive to prop up the platform?
I kind of doubt they expect it to make that much of a difference in whether people stay. Rather, I suspect it’s mainly an attempt to make a buck selling overvalued shares, and maybe drive up their stock price a bit in the process. They can also try and spin it as a gift, which they clearly are already.
It’s actually a pretty good evil idea.
And their target is specifically people who likely can’t think about Reddit, the company, objectively because being on Reddit, the website, is such a large part of their personality.
The most charitable read is that it’s an attempt to build hype among powerusers by letting them own a piece of it.
In a vacuum, that’s actually kind of nice.
A less charitable reading is that they’re targeting the users who have flukes and blowholes to try and get even more money from them as part of a media campaign to make it seem like they truly value those users.
I’d just like to say I love that wording.
They should offer people to buy 10 shares for every collected avatar NFT… 😈