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Report: 75K loyal Redditors can snag shares before Reddit goes public (arstechnica.com)

submitted 8 months ago by Powderhorn@beehaw.org to c/technology@beehaw.org

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This is one of the more scathing pieces to come out on Ars about Reddit. As the site did not respond to inquiries, all that was available to report on was profoundly negative statements that Advance is unlikely to enjoy seeing.

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[–] GrindingGears@lemmy.ca 15 points 8 months ago (1 children)

Fishing for coverage for the people who pump and dump their shares after IPO day. Anyone internal with big holdings is going to just unload at first opportunity. This is their desperate attempt to provide coverage for it.

Hope some of the mods I ran into over the years are amongst the schmucks holding the bag with these shares for their first earnings report. It ain't gonna be good.

Fucking reddit, good riddance. Toxic shit hole needs to die, but now this is a golden opportunity for your grandma and her pension fund to be amongst its victims too.

[–] CanadaPlus@lemmy.sdf.org 7 points 8 months ago* (last edited 8 months ago)

Hope some of the mods I ran into over the years are amongst the schmucks holding the bag with these shares for their first earnings report. It ain’t gonna be good.

They would be a great target, at least. Big mods aren't driven by enjoyment or compensation, because they get neither. Users are dicks and everyone hates you no matter what. Either they really care about whatever sub, or they're big enough schmucks to do all that purely for imaginary authority and status (like this offer is presented as). Maybe 90% were in the latter category before I left in the exodus.