It’s happening
Expect a new wave of refugees to Lemmy every fiscal quarter as they make ridiculous changes to increase the value of a sinking ship for shareholders.
Now it’s just a question of whether old.reddit will be killed off before the IPO or shortly afterwards. Either way, I doubt it makes it to the summer.
I hope you’re right.
I hope it doesn’t ruin what we have here
It won’t
I welcome the Reddit refugees as a former Reddit user
They are about 2 years too late.
They rise in interest rates and the end of easy VC money has swung the dial back to: Companies actually to generate profit and not just show user growth to be attractive to investors.
The IPO will not go as spez dreamed for so long.
Eventually the IPO will ruin Reddit, as vulture capital will make sure to extract every single bit of value from the platform as profit. I just wish that Reddit’s downfall happened before that - otherwise spez and other shareholders are still leaving with pockets full of money.
Also, it would be a shame if a blackout happened near the end of February… or if subreddits went again into “Oliverposting” mode… or if people happened to promote a few Kbin / Lemmy instances…
Why buy it? The CEO has publicly stated they don’t make money while killing two major revenue streams.