6 ms·

>And now tell me again that the Reddit Blackout had now effect. So, no, the blackout did not cause this drop in valuation. I'd urge you to read the article bef

>And now tell me again that the Reddit Blackout had now effect. So, no, the blackout did not cause this drop in valuation. I'd urge you to read the article before shooting from the hip. From the article: >Fidelity Blue Chip Growth Fund valued its holdings in Reddit at $15.4 million as of May 31, according to the fund’s monthly disclosure released Friday. That’s down 7.36% from $16.6 million mark at April’s closure and altogether a slide of 45.4% since its investment in August 2021. Followed by: >(Worth noting that the vast majority of markdown in the value of Reddit and Discord holdings by Fidelity predominantly occurred last year.) So, May 31st is when they dropped the value of Reddit. That's prior to the blackout chaos, which occurred in June. Apollo didn't receive notice of the cost changes until the 31st, and didn't announce it was shutting down until the 8th. The blackout occurred after those dates.

gremlinsinc 3y ago
So, the blackout devaluation is likely magnitudes higher, considering daily ad center traffic dropped substantially since the blackout as advertisers are weary of advertising on the toxic site now. Also considering the Reddit brand which IMHO rightfully was way better than the rest of social media (at least until recent events), has now started to make Facebook look good. The CEO is acting like a Musk fanboy who drank the Kool aid, and is modeling his social media company after a company ran by a guy who's worked administering a social media company for less than a year. I mean, verdict is out on if Twitter will go up or down in value. Why hitch yourself to that train?