Why would anyone give money to a business who has never ran in the black after 20 years? Just set your money on fire instead
Dumb people are going to see headlines about “AI” and “the first social media IPO in a long time,” and they’re going fork over money. Also speculators are going to buy after they speculate that other speculators are going to buy speculatively.
Yeah, this IPO will probably go just fine and a bunch of wankers will make a bunch of money. That’s what it’s all about, after all.
And where does that money come from?
Honest question, I hate finances.
Mostly from small people either tricked into buying the "new bitcoin/Nvidia/apple/… before it’s to late or dumb people hyped by other dumb people into buying it. And if enough small people invested and the stock rises the big player collect the profit.
Yeah that was my expectation … Thanks for the explanation
I work in financial reporting, so I have a decent idea of what makes up things like operating profit/loss and Adjusted EBITDA.
This does not look good for Reddit and if the company only managed a $90.8m loss after jacking up API costs, nuking virtually every third-party client, backstabbing every power mod, giving alternatives like Lemmy and Kbin an actual user base and selling off user data to Google, then I fully expect things to get a lot worse on the site.
Good.
As much as I dislike their recent choices, a lot of knowledge would be lost if Reddit went down.
I am curious. If you were a Chief officer or VP or something. What kind of changes would you do to make it profitable? Reduce server count? Roll back old.reddit? Just cut overhead? Get rid of Spez? How can they possibly make it profitable given where they are now?
We’ve all seen the news about spez salary, to yeah, fuck him and check if others are also getting such salaries.
Make mods actually pay for the privilege of modding.
