Reddit Is Letting Power Users In on Its IPO. Not Everyone’s Buying

Yeah, I think they just want memestock-like bag holders, people invested in reddit "as a company/platform" who are unlikely to sell

With Spez at the helm I'd be surprised if they didn't wind up getting in trouble either way, guess time will tell.

They specifically, in bold, say they don’t have access to this information as it is only provided to the plan administrator.

I seriously doubt it, because if someone isn't verifying that you hold the account it was sent to. People could "sell" their invites and I feel like this is already walking a fine line with the SEC with the whole "early access" thing.

It would be trivial to write a bot that pm'ed accounts that met this metric to receive an invite offering a tiny amount for their codes.

Hell, someone could do that and never follow thru with buying accounts as it would make some users more likely to buy.

This whole thing is likely to go horrible, because reddit never thinks shit thru.

How far could you throw reddit?

Someone replied to me in another thread and said that they were giving invites out in stages based on number of mod actions or karma. The first cutoff was "only" 200k karma. The lowest was 20k.

I was thinking of signing up just to see the information but then I read the prospectus and realized it was a losing investment, plain and simple.

Last I checked my account was in the top 1% of karma.

I had two accounts over the years that I’ve gotten to higher tier levels.

It was honestly pretty easy back in the day. There were a couple of topics that I could pretty consistently get 5k+ karma from. Large subs with well known view points. Play into those and you take in massive amounts of karma.

my old account before it got banned was well over 500k. I'd been on since 2013. yeah, most of us are power users I think.

I certainly never considered myself a "power user," but I got an invite despite not using reddit since mid-June last year.

I think the main thing holding it back is the lack of active niche communities.

Lemmy has relatively poor automation and moderation tools compared to Reddit. There is no automatic moderator, for example, and you also don't have usability tools and things that other people have coded, unlike if you were to use Reddit today, or some years ago in its heyday. Beehaw defederated from lemmy.world because the tools at the time meant that anyone can sign up at .world, and post to beehaw, bypassing their registration restrictions.

Federation can also be a bit of a headache to get around if you're a layman. Do you need to go to all of the instances, or risk losing out on content that is hosted on other places? How do you sign up to it, etc. It's a good bit more complicated, and less intuitive compared to a centralised service like Reddit.

The user base also isn't big enough. Lemmy doesn't quite have the critical mass of users to make it into the mainstream, and put it in more direct competition with a place like Reddit. Even busy communities are really quiet compared to a relatively active thread. This community is arguably only as active as it seems to be because of the bot posts.

Finally, Lemmy is still pretty young, and has a fair few teething issues. It wasn't all that long ago that servers that updated to 0.18 couldn't see any posts from older servers, because they didn't Federate properly, and not all that long before that where Lemmy's UI had some serious glitches, such as by seeming to signing you in as someone else's account. People might want something that's a bit more stable, rather than moving over for sure.

It's probably part of why a fair few Subreddits moved to Discord, since it doesn't have a few of those issues, and is relatively mature.

For me it's the lack of interesting communities to browse. Everything active seems to be about, Linux, programming, politics, Star Trek or anime. Some midtier memes. That's basically a list of subreddits I had blocked on reddit. And it's all that exists here.

Edit: I just counted. I'm subscribed to 179 communities. In the first 50 posts on my subscribed feed (basically 2 days worth of content), there are 7 communities featured. The first post that does not mention above topics and isn't a meme is post no 15. In total, there are 4 posts in the first 50 posts that do not mention any of those topics. 2 of those are interesting to me. That's just not a good enough ratio.

The far left view of the community and Linux lovin showing up in nearly all of the threads.

Well everyone wants to be Zuckerberg so what else are you gonna do except get consultants?

But they said they'll only do a small amount, so they'll only risk losing a small infinite amount of money.

Never heard of it, I'm sure it'll be fine though

Its ok to dabble in amything in small amounts.

But big risk should always br preceded by heavy research.

Or ya know, just YOLO on a 0DTE option because someone on social media likes it too

I didn't say anything about buying shorts but, to my knowledge, you can't short something that doesn't exist. I was stating that I'm willing to bet the price per share will go down significantly in the short term after it's IPO, no matter what they set as the initial price.

HODL, YOU AUTISTS!

#fuckthoseableistWSBcunts #actuallyautistic

They have no profit model. Can't lose by shooting.

8 y.o. account, 23k post karma, 64k comment karma. So, not that much. Sadly can't tell you over how many posts/comments, because the API Tools that used to count that all are dead. Obviously.