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

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lvxferre@lemmy.ml

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Reddit might once again be flirting with an IPO (techcrunch.com)

submitted 11 months ago by lvxferre@lemmy.ml to c/snoocalypse@lemmy.ml

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IPO = Initial Public Offering, where shareholders offer to sell their shares to the public, shifting a company from a "private company" (it belongs to me, you, and that guy) to a "public company" (it belongs to anyone who pays enough for the shares).

The userbase has been always touchy when it comes to IPO, and rightfully so; they know that the new owners will only care about squeezing the platform dry. As such, I predict a new flood of Redditfugees to Lemmy and Kbin.

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[+] zeze@lemm.ee 44 points 11 months ago (2 children)

[deleted]

[–] GenEcon@lemm.ee 26 points 11 months ago (1 children)

Hopefully! Last time reddit did shitty things to annoy their community lemmy wasn't ready. We now have working apps, set up communities and have an active user base. We can take the refugees this time.

[–] FinishingDutch@lemmy.world 6 points 11 months ago

I joined here yesterday; figured I’d give this thing a try. So far I’m really liking the overall experience with Memmy in my phone.

The whole thing isn’t as active as Reddit, obviously. But the overall experience is quite nice. So uh, if Reddit bans a bunch of cool users, that’d be fine with me :D

[–] lvxferre@lemmy.ml 13 points 11 months ago

I don't think that it will, either. Give a golden eggs farm to vulture capital, and they'll kill one gold-laying chicken after another to "reduce operational costs", become "lean and mean", or crap like that.