I think it started bc Elon bitched about the white people twitter sub was inciting violence and it shut down for a bit and now with saying Luigi
When you start banning long-term users over bullshit. This happens. Hope it crashes and burns all the way to the ground.
It’s just FUD, diamond hands 💎🤝, to the moon 🚀 🌒, etc etc
/s just in case
This particular decline was caused by a bunch of insiders, including one greedy pigboy, selling some of their shares.
That’s not necessarily a sign of any problems at the company, though. These insiders are probably carrying this equity from before it ever went public and sell shares periodically as part of their (insane) compensation. For instance, the aforementioned greedy little pigboy sold $2m according to that article, but still holds more than $90m at current valuations.
There have been multiple sellers since the end of Feb that have had an impact. Pays to be an insider lol.
Specifically, insider Benjamin Seong Lee sold 92,299 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now directly owns 115,001 shares of the company’s stock, valued at approximately $18,095,407.35. This trade represents a 44.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michelle Marie Reynolds sold 11,965 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the transaction, the chief accounting officer now owns 48,418 shares in the company, valued at $7,621,477.38. The trade was a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $160.30, for a total transaction of $2,244,200.00. Following the transaction, the chief executive officer now directly owns 597,515 shares in the company, valued at $95,781,654.50. The trade was a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Reddit is pretty useless for getting any kind of advanced information on any topic. The impression I had of the US election based on it was completely out of line with reality, so in that case it couldn’t be trusted as an accurate source of information on current affairs.
People are addicted to it, but you’d have to be pretty sad to pay for it.
Blocking ads on it is a trivial matter. It never made any money.
The question is why did anyone think it would ever be worth much at all.
The impression I had of the US election based on it was completely out of line with reality
I’ve largely switched to Lemmy for the past two years, but this was really the last nail in the coffin for reddit for me too. It’s an enforced echo-chamber and no longer a reliable source of information. It’s hard to notice how bad things are when the politics are leaning in your direction, but once you see it, you can’t unsee it, and it feels gross.
Lemmy is obviously pretty politically homogeneous too, but the difference is that I don’t feel like someone is trying to trick me. Topics and and sources are clearly influenced by the individual posters’ opinions, but it doesn’t feel like there’s a coordinated behind-the-scenes effort to push an agenda, which makes for a better vibe.
lemmy.world news and politics subs mirrored reddit strongly during the election shill op
people were banned to ciritizing Kamala’s campaign. Any discussion of 3p was also banned.
With that being said… federated nature permits people with different opinions to find other subs for discussions.
There’s a difference between being banned and being downvoted to oblivion for pushing idiotic tactics.
i said banned…
Absolutely correct, comrade. And what happened? We leftists told everyone Kamala is evil, and the people listened to us and didn’t vote Democrat. We got Trump into the white house. And then the Democrats realised that they need to appeal to the left to win next time. So they’ve cleaned up their act and taken genocide off the agenda. And now they’re actually stopping Trump’s fascism. He’ll be impeached any day now!
I can’t tell if this is sarcastic or serious.
I choose to believe that the current Republican regime and the pressure by Democratic constituents on Democrats will push the Democrats to be more liberal and do more, but honestly there’s some clear “first Hitler then us” vibes to that thinking that I can’t get past
Are you an Apollo exile?
I was a “Reddit is Fun” user for at least a decade
I literally just uninstalled both rif and rif premium 1 minute ago. Their last update was June 2023. I can’t believe it’s been that long.
Yep, its got pretty extreme. So many comments seem to be bots, and it really feels like you’re being pushed in a certain direction. I can’t fathom how it got so bad
There are bots on here too. I’ve noticed a lot of handled accounts that will reply consistently with pro Russian propaganda. Some may be bots, but others are handled. Either way, the goals are the same.
You sadly can’t escape it these days.
No matter where you go, it’s best to be aware and double check sources.
I’ve noticed a lot of handled accounts that will reply consistently with pro Russian propaganda.
without evidence, you are just spreading fud
I said “I’ve noticed” which is anecdotal, but others have shared similar experiences with me. That along with the well documented interference campaigns, it’s not a stretch to draw the same conclusion here on Lemmy.
Did you read the article I shared by chance?
this is just more fud.
I wish I didn’t have to be skeptical, but sadly I do. If you read the article I shared, it outlined how insidious foreign influence campaigns can be.
For example, in 2019, 19 of Facebook’s top 20 pages for American Christians were run by Eastern European troll farms.
That’s just one example of many. We all need to be hyper vigilant.
So this place isn’t overrun by bots. Awesome. As someone new here, are there fewer bots bc it’s a smaller audience, or are there actually protections against bots?
Welcome welcome! The few bots that try to spam have been found out and disconnected relatively quickly (there have been a number of Fediverse-wide intentional efforts to spam that were dealt with).
The comment quality tends to be higher on average and braindead meme chains that bots can copy for karma farming are far less common.
That said, the Lemmy experience is yours to craft. Subscribe and block as needed, don’t feed the trolls, don’t sweat getting a few downvoted comments here and there, report bad behaviour and have fun.
So, it’s all down to federation, essentially. If an instance allows its users to act in bad faith (lemmygrad, exploding heads, etc), then typically people will ask their instance admin to defederate from them or else move to a server that will. And if you can’t find a server you like? Great news! Just pull down the source code and start your own!
Worth noting that lemm.ee pretty much does not defederate with anyone so is great if you are going to be moderating any communities because you can actually see nearly everyone that is posting.
Yeah, I also have a strong [left] libertarian bent, and I appreciate that .ee admins trust me to block servers I don’t want to see for myself. I think the only two that .ee has defederated from are lemmygrad and exploding heads (Nazis).
For me, it was the massive uptick in bans that proved the manipulation was real
Its value is equal to its usefulness as a propaganda organ. Twitter wasn’t purchased to make money. A megaphone is more of a tool than an investment.
Dunno, I think Musk was forced to buy it, then he suggested it was going to be all sorts of things while massively cutting costs, before pivoting to giving Trump a quarter of a billion in order to get access to government.
I don’t think there was any intention to buy twitter for propaganda, and I haven’t seen any evidence that shows to what degree (if at all) it helped Trump get elected.
I mean, you DO understand that the current situation involves granularity like we have never witnessed before, algorithmic fuckery that we have been warned about, and the fact that access to Twitter data in controlled by the guy who initiated all of the fuckery involving twitter, right? What I’m saying is that your standard for evidence is not in touch with the current reality. Fortunately, this guy can’t seem to hide his intentions, so we really don’t need an in depth analysis. The only ones who would wish for the rest of us to demand such a thing in order to believe what we are seeing in front of our very eyes are the ones who would benefit from the truth being obscured… Oh. I think I understand now
he only used it as a propaganda tool after he was forced to buy, he had to make that money back somehow, SAUDIS and putin did step in to help.
I thought they were supposedly going to be making money selling training data for AI’s.
And what is an ai trained on reddit going to help with? Misinforming people on specialised topics, or misinforming people on current affairs?
Edit - I suppose you might be able to train an ai not to reply as per replies on reddit, dunno.
Fuck if I know. I never said it was a good idea!
Reddit is pretty nice as a source of information, but mostly on smaller and more obscure things, not big political topics like US elections… that’s what the last year has taught me, at least.
How the heck were they ever valued at $US200 per share?
Price of the share is irrelevant. Please reference market cap.
Missed numbers. But the overall market is tanking.
Pretty simple - same folks who bought Xitter and Trump are pulling their $ out until Reddit starts censoring shit they don’t like. It’s not a coincidence that “Luigi” became a banned word last week.
Fuck the Y graph doesn’t start at zero though.
That’s pretty standard practice with stocks because traders are more interested in seeing the detail of what the price has been doing than they are in seeing how much it has changed in total. That and the stock should never be anywhere near zero unless the company is on the verge of total collapse (and usually by that point it becomes de-listed)
Uhh guys I hate reddit too but the entire economy is tanking.
This isnt a reddit thing and has nothing to do with reddit itself
Compare to s&p 500, nyse, NASDAQ, etc.
It’s down all around but not 40% down
Not yet anyway
in my experience, reddit advertising has been idiotic for several years.
I go to a basketball subreddit. there are no relevant ads about basketball. not local team tickets, not streaming services, basketball equipment, basketball merch, or even a video game.
I go to a subreddit for a tv show. it’s similar. There are no ads or links to buy dvds or tickets to a convention or anything related to the show.
They could totally target advertising based on subreddit and they don’t.
I can’t believe for as long as I’ve been on Reddit I never realized that point you just made. Good shit dude.
Is this because they think they’re more likely to get a more valuable click by showing you targeted ads from the highest bidder?
Targeted ads always seem to be so poorly targeted.
This may just be a general trend. I don’t know if you looked at your portfolio recently but everything has tanked.
By four percent, not forty.
Lots of companies tanked by over 10%. Crowdstrike for example tanked 20% in one month. Vista corp tanked 33.1% in a month.
General rule for posting stock prices: sometimes things are obvious when you zoom out a bit.
In this particular case, Reddit stock price is still up several percentage points from the Trump rally that affected just about every tech stock after 2024-10-30 about. Same applies to other stocks like Tesla.
So at this point it’s nothing more than a return to normal. No need to attribute anything more to it. But sure, if this descends keeps going for some time more, it’ll be different.
I’m not experienced with stock markets, but is the concept of ‘normal’ really relevant, especially after a whole quarter? What factors would give it a tendency to return to the prior state?
Yep if they remove/ban us for gaslighting us in to policing our free speech we remove them!
Free speech for the parasitic class of exploiters censoring for the 99%, no war but class war. It’s not left verses right it’s top verses bottom.
Fuck pacifism especially during tyranny and oppression don’t obey in advance we have only gained rights through disruptive riots and other direct actions . Luigi #Luigi @Luigi
Seems like some owners of the stock, would be people that like using reddit. Which is in decline as well
