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They have filed for an IPO last month with the SEC so they should go public very soon. Last valuation was at 10b$ which is ridiculous for a website that can li
by mardifoufs 5y ago
They have filed for an IPO last month with the SEC so they should go public very soon.
Last valuation was at 10b$ which is ridiculous for a website that can literally get its most popular subreddits shutdown arbitrarily whenever a small group of extremely online volunteer mods decide to "go on strike" by locking the subs because they don't like something/someone else on the website.
It happened before and the admins yielded to them so I don't see why it wouldn't happen again, especially since it's not like they can run the website without that weird cabal of (mostly delusional/psychotic) power mods doing their work for free.
- Lascaille 5y agoI've also thought that. The reddit shutdown made the frontpage of (reputable) news sources, I can't imagine that investors aren't going to be asking the admins how much control they really have over the user experience on any given day.
- samstave 5y ago>>is ridiculous for a website that can literally get its most popular subreddits shutdown arbitrarily whenever a small group of extremely online volunteer mods decide to "go on strike" by locking the subs because they don't like something/someone else on the website I have a story about this - and its worse than just mods -- Admins intervene and set narrative on for whom is allowed to mod and make mod decisions... I wont reveal the details - but I have seen Admins literally come in and fuck up Mod orders because (my suspicion) is that the Admins have MANY accounts that /appear/ as mods - but are actually Admin shill accounts... I had this happen to me first hand and I was appalled. Reddit's ethics are absolute garbage in this regard.