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The Reddit Protest Is Finally Over. Reddit Won.
(gizmodo.com)
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this post was submitted on 04 Aug 2023
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That title is a bit misleading. Reddit mods might have stopped protesting, but the news of the implosion was quite significant. The existence of Lemmy is a testament to this. I don’t think their IPO is going to be as strong as they had hoped. That financial impact is quite opposite of the victory they claim to have achieved.
Also, the posts on Reddit and the responses have declined in quality in my opinion.
So what you’re saying is spez will be richer than 80% of people instead of 90%
Actually he will be richer than way more than 90% either way
To be richer than 90% of people you need to have a net worth of $90,000 USD.
Damn. I've got more than that and I sure as hell don't feel like a ten percenter.
Worldwide. So you’re competing with people sewing shoes at 1$ per hour.
That's too high. People are employed for like $4/day basis in some places.
That makes a whole lot more sense.
That can't possibly be true. I'm not saying you're lying, just... holy shit I though it'd be way more than that. This is for US citizens?
The number was $1,212,000 to be in the 90th percentile in the US in 2017 according to https://www.census.gov/content/dam/Census/library/publications/2020/demo/p70br-170.pdf
But worldwide, it was indeed about $93,000. https://www.cnbc.com/2018/11/07/how-much-money-you-need-to-be-in-the-richest-10-percent-worldwide.html
Very interesting. That's more in line with what I was thinking it would be for the United States. Thanks for looking that up and providing the info.
This is for all people, worldwide. North America is very rich, relatively speaking.
Ah, ok, I suppose that makes a bit more sense then.
I've read this before and continue to remain stunned since the cost of living is so ridiculously high in so many American cities.
I mean, wouldn’t be too out-there. How many Americans are living paycheck to paycheck with some sort of massive debt? How many can’t afford to have any assets? How many more accrue even greater debt to either survive, or drop money they don’t have on shit they don’t need (like that latest BMW) just so they can keep up with the Joneses?
On the bright side, people like him are unlikely to be happy with what they have. He’ll spend the rest of his life dreaming about the billions he ‘lost’, rather than being satisfied with the obscene amount of wealth he already has.