BoycottUnitedStates

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Nobody is really talking about Reddit dropping value since they banned Luigi posts and sided with Musk to remove communities (slrpnk.net)

submitted 1 week ago by tfm to c/BoycottUnitedStates

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cross-posted from: https://slrpnk.net/post/20088204

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[–] wwb4itcgas@lemm.ee 9 points 1 week ago (1 children)

Well, quite a few of us reacted by moving here, and I like to think actions speak louder than words. Thank you for having us - we appreciate the political asylum.

It's bittersweet that I once thought the same about Reddit in the wake of the Digg Exodus, only to spend the next years watching Reddit doing the exact same gradual downslope Digg had followed, with no apparent awareness that history was repeating. I took it to signal an early loss of institutional knowledge, since Reddit was pretty much build on Digg's broken back. Yes sir, that shit wouldn't have flown under Aaron Swartz's aegis.

Fuck Spez.

[–] tfm 7 points 1 week ago (1 children)

Decentralization is the only way out of this enshittification loop.

[–] wwb4itcgas@lemm.ee 2 points 1 week ago

Yup, glad to be here. The deliberate technological constraints imposed by the smolweb can also help, albeit in a different way - it's difficult to enshittify something that just doesn't have the ability to be crap in the first place. And on that note, I think I'll spin up Lagrange and check what's up in Geminispace.

[–] graycube@lemmy.world 5 points 1 week ago (2 children)

The whole stock market is down, not just reddit. How much of their decline is due to enshittification and Musk, vs. the US spiraling in general?

[–] something_random_tho@lemmy.world 3 points 1 week ago

VOO (S&P 500 index) is down 6.5% this month. Reddit is down 36%. So it’s dramatically worse than the rest of the market.

[–] tfm 2 points 1 week ago

That would be interesting

[–] gencha@lemm.ee 5 points 1 week ago

There is no correlation. The stock was pumped up garbage to begin with, and now it's correcting

[+] Lemmist@lemm.ee 1 points 1 week ago* (last edited 4 days ago) (1 children)

[deleted]

[–] tfm 1 points 1 week ago (1 children)

They have about half a billion users and generated more than a billion USD revenue last year. Don't know if they generate profits but they have a lot of growth (unfortunately).