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.
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”.
That’s only technically true since Advance owns Conde