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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[-] homesweethomeMrL@lemmy.world 166 points 8 months ago

And while Huffman now thinks that Reddit as a corpus of training data for AI is valuable, he let his board member Sam Altman siphon off Reddit data for free; Altman was, and still is, the CEO of OpenAI. Altman’s also Reddit’s third-largest shareholder and owns more than twice as many shares as Huffman. Altman was the CEO of Reddit for eight days.

Say what now

[-] wjrii@lemmy.world 50 points 8 months ago

Huffman also made $193 million bucks, according to the article.

[-] SpaceNoodle@lemmy.world 22 points 8 months ago

How much is a dollar buck in USD?

[-] ShepherdPie@midwest.social 17 points 8 months ago

It's equivalent to four quarter dollar bucks.

[-] shasta@lemm.ee 14 points 8 months ago

About 1/10 of a banana

[-] Corkyskog@sh.itjust.works 13 points 8 months ago

1 Buckaroo

[-] dutchkimble@lemy.lol 7 points 8 months ago

It's just shy of a bison dollar

[-] Alexstarfire@lemmy.world 0 points 8 months ago

Same as a bill.

[-] ominouslemon@lemm.ee 27 points 8 months ago

Holy crap I did not know that! This is huge

[-] merc@sh.itjust.works 13 points 8 months ago

Altman was the head of Y-Combinator, Reddit is a Y-Combinator project.

this post was submitted on 24 Feb 2024

1020 points (98.9% liked)

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