I'm still trying to figure out how reddit expects to "become profitable" while simultaneously destroying everything that made it valuable.
"Become profitable" is just their stated goal.
I think that their actual goal is to look profitable for the upcoming ipo so that the CEOs can cash a fat check and leave. They likely don't care about what happens after that.
So the "become profitable while simultaneously destroying everything that made it valuable" platitude is more like "they're cutting down the tree for the wood without thinking about the squirrels"
Yep.
Say the IPO is 9/1/23. The company wants to do anything they can to juice the numbers for that date, even if it means on 9/2/23 it crashes and burns.
When a company prepares for an IPO, every long-term metric is thrown out the window
But there are only so many Elon's that would buy a sinking ship for a shit ton of money.
That's the dumbest part. There's no guarantee that this ipo bid is going to pan out. Huffman is betting big, it's just too bad he's so full of himself that he doesn't realize his actions will probably be what causes this ipo to fail.
He wanted to fly under the radar and make changes that look good on paper while keeping the community relatively the same. Instead he made a splash so big that major news outlets are still talking about it months later, and now he's actively alienating the volunteer work that holds the whole site together.
Greed kills another thing, history of humankind.
Not sure if I'm misunderstanding your comment but.. it's an IPO, they're going from private to public. Twitter was the opposite, which is unusual. Right now Steve Huffman is the musk of reddit.
But are investors this stupid? Who invests in an IPO without doing research on the company's activities? If they check the internet and it's countless articles about how their users and moderators are pissed and leaving, why would anyone think it's going to be profitable?
The sad thing is that reddit will probably do alright for at least a few years. It may not be an awful investment in the short term.
That said, it'll slowly burn out and investors will be left holding the bag. But that's alright, because Steve Huffman will have gotten his payday and retired to the decommissioned missile silo that he converted to luxury apartments in case of doomsday. All he had to do was fundamentally change the way people use the internet by selling the company that his two smart buddies created.
Yes. Look at the 2008 housing crash, and tell me average investors are intelligent.
Very poor leadership.
Spez was smart enough to realize that there's value in aggregate votes on text content in specialized niches for training AI, but too dumb to recognize that the owners of that value are the users and moderators and not Reddit corporate, and that the greatest frontend contributions have been by 3rd party developers.
So he complained about "landed gentry" while implicitly suggesting he sees Reddit as a monarchy where he sits on the throne.
Which in turn pushed users and moderators and 3rd party developers to look elsewhere.
It's the beginning of the end for the site that for a few years now was my pick for "massive untapped and underappreciated value."
It's wild that he failed so badly in even just ad sales. Targeting my profile there based on something like a vectordb of comments, posts, and liked content would have been 1,000% more relevant than Google or Meta could have offered advertisers.
But the fool couldn't even get their basic search to work.
While many comment on how Reddit enhances Google searches, the flip side of that is how insane it is that people go to Google to search Reddit.
Incompetent man child ruins company. A story as old as companies (and part of why "founder driven startups" is such a piss poor model for entrepreneurship).
I never considered that I search google for reddit before. Good point.
That's the thing, reddit doesn't need to be profitable for the venture capitalists to make their bag. They're trying to cash out at the IPO and have no concern for it after that.
@RagingNerdoholic @BraBraBra because what they are looking at to determine profitability isn't actual profitability. They have certain metrics and they are making those metrics as high as possible. One might be, for example, ads served per page view.
I still can't figure out why anybody is using the site whatsoever.
If someone didn’t bother to use 3rd party apps, they probably wouldn’t bother to switch to a whole new platform. Also federated sites are not intuitive and lemmy is scary of you go in without understanding that.
I mean, google lemmy and you don’t get much, its not a .com but rather there’s tons of instances which would just look like fake sites. And the design of the official site doesn’t exactly scream trustworthy. Im pretty tech literate and i had to find a tutorial to join the fediverse.
Im assuming there’s a bunch of folks who just don’t care to put that effort in so they’ll just stick around until it fails to meet their low standards.
!mediashare@lemmy.world
!plexshares@lemmy.world
!plexshares@kbin.social
Hopefully more people start using these subs 🥴
Make one for Lemmy?
Already exists, not active at all. hence are for acting communities.
Now's the time to advertise it in a thread that has a lot of eyes.
... where?
I can only find a general plex community, not one for sharing.
Give us a link. Lets talk about it how awesome plex shares are and encourage others to share their servers 😀
It's amazing they lasted as long as they did considering most people there were selling access to pirated media and the such.
I find it insulting that you think my 9703 movie/1423 show library wasn’t legally acquired.
Spez is so jealous of Elon's dumpster fire, that he can't dump the gasoline on his head fast enough.
Just found out about Plex Sharing thanks to your post. sorry I have nothing to add but im also very interested in finding one such servers.
Well unfortunately it's the worst time to find out about it haha
ELI5 what Plex Sharing is? Is it "stealing" of media files on unsecured PLEX servers? People freely offering of media hosted on Plex servers? And why Plex of all things anyway?
Edit: We ARE talking about the media server software, right?
Yeah it’s just folks too lazy or unable to figure out how to pirate on their own, so some entrepreneurial pirates choose to sell slots on their personal media servers.
I don’t get it.
Oh, people pay for that?
People rent out access to their plex servers. Some hosted at home, others in paid server space. What media is on them is up to whoever manages it.
Reddit destroyed a lot of communities & their own brand in the name of greed & corporate profits. Fuck them straight to hell.
Is there a jellyfin sharing community on lemmy ? I ditched Plex years ago but I'd love to share my jellyfin server with folks.
When looking through some reddit archives, I was able to find these for anyone looking to try one. The posts were from December 2022.
When did this happen?
Don't they have a fallback like a Discord or even a Lemmy community? If they don't that's a pretty stupid move from them IMHO.
I have some videos I might be interested in sharing on a Jellyfin server, as well as interest in viewing videos on someone else's shared server. I have a question: What options do you have for hardening security-wise? I have the server hosted on a local machine and don't wanna get pwned if I can help it.
What happened? Was the subreddit banned?
It was "banned due to being used for spam" by reddit 4 days ago.
Reddit has been shit, but let's be honest. That sub was filled to the brim with illegal offers for money. Lawsuits waiting to happen.
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