this post was submitted on 29 Nov 2023
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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SNOOcalypse is closing down. If you wish to talk about Reddit, check out !reddit@lemm.ee, !reddit@lemmy.world and !RedditMigration@kbin.social.


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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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[โ€“] CaptDust@sh.itjust.works 69 points 11 months ago (6 children)

Who will be the sucker that buys a site full of bots reposting content for other bots to "discuss"?

[โ€“] lvxferre@lemmy.ml 42 points 11 months ago (1 children)

Vulture capital. They don't really care about what they're buying as long as they get some profit out of it.

[โ€“] empireOfLove@lemmy.one 14 points 11 months ago (3 children)

That would require reddit to actually be making a profit....

[โ€“] lvxferre@lemmy.ml 14 points 11 months ago

Or if Reddit can bullshit that the site can be profitable "soon".

[โ€“] neshura@bookwormstory.social 8 points 11 months ago (1 children)

during the entire API fiasco some people had a look at their financials and the conclusion was that they should be making a profit if their revenue numbers are remotely correct. Somewhere in this pit of dung they have several money pits of unknown nature

Are they SBFing islands for their hoity parents?

[โ€“] DarkThoughts@kbin.social 27 points 11 months ago (1 children)

It's gotten really bad. Since the protests a lot of subs seem to be just gone and a lot of the old subs that are still there are mostly just bots reposting top posts, with a bunch of bots reposting top comments. Someone made a bot who tracks those repost bots and calls them out (which Reddit could do from within their backend automatically), and some submissions had like 60-70 percent removed bot comments. And of course all of them had a bunch of gullible idiots talking to them.

[โ€“] Blaze@discuss.tchncs.de 4 points 11 months ago* (last edited 11 months ago) (1 children)

Interesting, any link to that bot analysis?

[โ€“] neshura@bookwormstory.social 1 points 11 months ago (1 children)

Same, really interested in that data

[โ€“] Candelestine@lemmy.world 17 points 11 months ago

Lots of little suckers, as opposed to any big single one. An IPO means its going to hit the stock market. You could buy a share, and then go to a shareholder meeting and yell at them if you wanted. Theoretically.

[โ€“] nieceandtows@programming.dev 12 points 11 months ago

That reminds me of this super genius billionaire guy...

[โ€“] DemBoSain@midwest.social 4 points 11 months ago

It's not even good for support anymore. Anytime a search engine gives me a Reddit link, at least 10% of the comments have been deleted. The best information has been gutted.

[โ€“] LemmyIsFantastic@lemmy.world -1 points 11 months ago (2 children)

Have you seen how much bot content is here? Glass houses and all.

[โ€“] lvxferre@lemmy.ml 9 points 11 months ago (1 children)

Three key differences: bot content here is marked, avoiding it is as easy as checking a box in your profile, and Lemmy not being sold.

[โ€“] archomrade@midwest.social 2 points 11 months ago

What are you smoking bud