I am a reddit refugee. Keep seeing that this is supposed to be somehow better than Reddit. As far as I can tell, it follows a similar format, less restrictive on posts being removed I suppose. But It looks like people still get down vote brigaded on some communities. So I’m curious, how it’s better?

  • db2@lemmy.world
    8·
    5 months ago

    Owners:

    Advance Publications (30%)
    Tencent (11%)
    Sam Altman (9%)

    Conde hasn’t owned reddit in a while. I assume the remaining percent is the parent company Reddit Inc or stock options or something. Let’s see what that’s worth:

    Operating income −US$140 million
    Net income −US$90.8 million
    Total equity −US$413 million

    Yes those are all negative numbers. Why anyone with at least two functioning brain cells who isn’t also a greedy little pigboy would touch reddit stock with a ten foot pole is baffling.

    • borf@lemmynsfw.comEnglish
      6·
      5 months ago

      Advance Publications https://en.m.wikipedia.org/wiki/Advance_Publications

      Advance Publications, Inc. is a privately held American media company owned by the families of Donald Newhouse and Samuel Irving Newhouse Jr., the sons of company founder Samuel Irving Newhouse Sr. It owns publishing-relating companies including American City Business Journals, MLive Media Group, and Condé Nast, and is a major shareholder in Charter Communications (13% ownership), Reddit (42 million shares), and Warner Bros. Discovery (8% ownership.)

      Potato, potato

      • db2@lemmy.world
        1·
        5 months ago

        Not really because before Conde was the parent with the ability to control and direct, they’re more like a cousin with no input now.

        • borf@lemmynsfw.comEnglish
          1·
          5 months ago

          Dude I don’t care whose name is on the building, it’s the same effective ownership

    • Boozilla@lemmy.worldEnglish
      5·
      5 months ago

      I keep hoping to see Reddit’s stock tank. I think eventually it will. For now, it just highlights how much the stock market is perception / bullshit / glorified gambling. I know savvy experienced investors care about actual value and do careful analysis. But there are a lot of suckers out there who will just buy any cool-sounding “tech stock”.