I am a reddit refugee. Keep seeing that this is supposed to be somehow better than Reddit. As far as I can tell, it follows a similar format, less restrictive on posts being removed I suppose. But It looks like people still get down vote brigaded on some communities. So I’m curious, how it’s better?
Owners:
Advance Publications (30%)
Tencent (11%)
Sam Altman (9%)
Conde hasn’t owned reddit in a while. I assume the remaining percent is the parent company Reddit Inc or stock options or something. Let’s see what that’s worth:
Operating income −US$140 million
Net income −US$90.8 million
Total equity −US$413 million
Yes those are all negative numbers. Why anyone with at least two functioning brain cells who isn’t also a greedy little pigboy would touch reddit stock with a ten foot pole is baffling.
That’s only technically true since Advance owns Conde
Potato, potato
Not really because before Conde was the parent with the ability to control and direct, they’re more like a cousin with no input now.
Dude I don’t care whose name is on the building, it’s the same effective ownership
I keep hoping to see Reddit’s stock tank. I think eventually it will. For now, it just highlights how much the stock market is perception / bullshit / glorified gambling. I know savvy experienced investors care about actual value and do careful analysis. But there are a lot of suckers out there who will just buy any cool-sounding “tech stock”.