SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml

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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] NuXCOM_90Percent@lemmy.zip 9 points 10 months ago* (last edited 10 months ago) (1 children)

I mean, ignoring the balding neonazi dipshit for a moment:

Twitter is more or less showing the path forward. They fucked up on the advertisement side, but it has clearly been demonstrated that there is a strong desire for users to be "power users". Which is more or less what twitter ran on before. The idea that, because you have ten followers, you are just as important as Barack Obama.

Reddit, coupled with Google fucking up their own shit, is rapidly losing the "best place on the internet to find user sourced information" badge. But there is definitely room for a subscription that either boosts user engagement (not sure how that would work) or provides corporate moderators so that individual people can have their own board about their Sonic OC or whatever.

And then it becomes about converting those users into customers.

[–] lvxferre@lemmy.ml 9 points 10 months ago* (last edited 10 months ago)

But there is definitely room for a subscription that either boosts user engagement (not sure how that would work)

Swap "subscription" for "multiple small transactions" and you have the new gold system. So Reddit is already doing what you (and me, and everyone else) was predicting them to, we just didn't know "how".

It'll likely fail hard though, at least in the long run. For similar reasons as Digg failed.