Reddit shares plunge after Google algorithm change contributes to miss in user numbers
Reddit reported better-than-expected results, but the company issued disappointing user numbers.
Should we all short it at the same time?
No, user numbers are not down because of a Google change. User numbers are down because they went ban crazy during the election and Luigi stuff.
If you ban people who produce your content, your site quality & engagement declines. It’s not rocket science.
Btw, they’re definitely reversing some of these bans to try to pull people back, and inflate the number of “returning” users. They permabanned two of my accounts for wrongthink during the election, and they’ve already reversed one with no prompting from me at all, after denying appeals months ago.
A lot of that shit in the media right now. Story today on NPR about how car sales slumped in January and they blamed it on the weather, and while the weather might be a component of a slump i think theirs a lot of people out there nervous about the economy and taking a wait and see attitude, and that contributed more to slumping car sales than the weather.
NPR has always been capitalist propaganda. They’re happy to be a mouth piece for empire propaganda, including gaslighting people into ignoring their own economic struggles.
At this point, I check every comment I leave on the platform in an incognito window. A good half of them get shadowremoved for no reason. How do they not get that new users are going to leave if nobody reads, votes on, or replies to their comments?
I've had like 5 comments shadowremoved from the conservative subreddit because I guess the large oceanographic feature south of the United States gets caught in their word filter, and they hate the Constitution
That’s the thing about corporate America. As soon as you go public, the only thing that matters is the next quarter. The long term health of the company isn’t even on the radar.
They don’t care if people eventually leave, so long as they stick around long enough to attract advertisers for this quarter.
Honestly in my opinion, the minority of people worshipping Luigi aren't much different from MAGA cultists.
I got an account strike the other day and a post removed "by Reddit" according to the message for saying something to the effect of "protests without a threat of violence behind it doesn't mean much to those in power these days" on a thread about some ongoing protests.
Something about a site rule violation for advocating for and/or calling for violence.
I think threats of violence actively detract from the value of protests, its kind of achieving the opposite of its goal when you promote yourself as the enemy of the people you're asking to change.
That's why Fox News displays every protest as a riot, to lessen their effectiveness and to mobilize opposition.
My accounts were permabanned because Trump said Liz Cheney deserved to be shot, and I said I didn’t care because she’s called for the deaths of millions of people overseas. Banned for “advocating violence,” simply because I didn’t clutch my pearls that a warmonger was threatened.
Fuck spez
!fedibridge@lemmy.dbzer0.com if you want to help promote Lemmy Piefed Mbin to new users!
Fuck spez
Reddit has benefited from Google search updates and internal site improvements that have helped it gain a significant amount of new and returning users, which the social company refers to as logged-out users, over the past year and a half. Reddit has said it is working to convince logged-out users to create accounts as logged-in users, which are more lucrative for its business.
Expect to see more login paywall bullshit from Reddit.
It will be a cold day in hell before I make another Reddit account
They been putting them up for years now.
fedi4life
Give me more reasons to not visit!
Right now the only reason I have t ovisit is 'wearing powered armor to a magic school'
"Plunge"
13% after hours on one day is huge. Many stock markets having emergency stops if the main index drops by 10% in a day.
NVIDIA's stock tanked a month ago, and it's already back up. Nothing really changes. There's no such thing as a "plunge" in the stock market, unless a business is truly going bankrupt.
It's referring to that after-hours part.
Damn I never noticed but that dude looks like a dollar store knockoff alpharad
Why does his head look like that?
Because he’s a greedy little pig boy.
Its a side effect of a diet that is a little too heavy on the pineal glands, so, I was told.
He eats pineal glands??
Dollar store Ken.
Leftover lube residue from him removing it from his ass moments before the picture was taken? I didn't click on the thumbnail just my default assumption...
Reddit has said it is working to convince logged-out users to create accounts as logged-in users, which are more lucrative for its business.
By "convince," they mean:
Yes, very convincing, heavily coercive even!
old.reddit still works... And it's still a far superior experience to the shit they churned after.
I love when I'm troubleshooting something, click on a record link from like 2018, and get a modal encouraging me to "join this trending conversation!"
Just deleted my account I've had for the past... six years.
So glad I got banned from that site (Not for anything wrong, I just pissed off the wrong power hungry mods which resulted in a site wide ban.)
Same here. The mods there are just power-hungry wankers.
In other news, Lemmy stock mooned infinity% from 0.00 to 0.00 plus beans.
Beans!
Jfc that thumbnail of Huffman's face triggered me. How did he manage to make his face look MORE punchable??
With the power of ai they managed to create the most punchable face ever. So he only had to follow the blueprint laid out for him.
It's almost like communication platforms shouldn't have profitability as their main goal... maybe they could be... distributed... like some sort of... federation. Yeah. That's it. Then everyone would follow along like... lemmings or something
Holy hell how much plastic did Huffman invest to look like a dollar general bond villain.
Dollar General‽ Please. Don't insult DG like that, dude looks no better than Dollar Tree grade
(For non-Americans, Dollar General is a "discount" store chain, largely found in "food deserts". Dollar Tree is a bonafide dollar store where everything (was anyways) just a dollar. Yes, the quality is about as crap as you'd expect (though sometimes they did sell good stuff if they were able to acquire it cheap enough))
Bros face looks like my cats anus while sliding a cookie out.
As someone who has to check reddit once in a while, they've begun to completely hide the topic and replies of some threads. Luckily, old.reddit still works. I'm not going to log in to see shit that is public.
I wonder if the "google search benefit" also includes google down ranking lemmy instances
The stock’s valuation makes no sense at all. A market cap of 38 billion on no revenue and declining growth?
Get fucked, Spez.
Oh boy, wait til you see Tesla!
As the saying goes, "The market can remain irrational longer than you can remain solvent."
Reddit shares plunge after missing engagement numbers due to fall off following enshitification
Lol fake news would never admit that a company got punished for taking a dump on its user baze's heads
“It primarily affects logged-out users in the U.S.,” he said. “This one was particularly interesting because there really was a swing down, but then a recovery shortly thereafter happened right at the end of the quarter.”
Show me the graph, spez. Pics or it didn't happen!
Fuck spez
It’s only like a month of stock increases, they’re still up 300% since IPO.
I’m not logging in out creating an account, I deleted my hobby account a few months ago and I do not miss participating in Reddit.
I got one of those options to buy lol. Ignored it and happy about it.
Has there been an r/place since 2023's epic FUCK SPEZ?
Reddit's stock price temporarily blips.
Lemmy: Fuck spez!
If Musk hasn't utterly tanked X by now, spez sure won't tank reddit.
Only way I know they would truly take a beating is a high-profile study, that gets repeated everywhere, about the true extent of AI/bot posting. Until advertisers realize they're paying to catch AI eyeballs, they'll continue to pour in the money.
I read somewhere that reddit hasn't made a profit in the entire years it's been around. Only a matter of time imo until reddit is no more.
It feels like the tech bros are teaming up to punish reddit and other companies/entities that hurt Elon, Trump, and others feelings.
Reddit’s sales jumped 71% in the quarter from $250 million a year earlier, the fastest growth rate for any quarter since 2022.
The company said first-quarter sales will be between $360 million and $370 million, ahead of the average analyst estimate of $358 million.
Net income almost quadrupled to $71 million, or 36 cents a share, from $18.5 million, or breakeven on a per-share basis, a year earlier. Reddit reported adjusted earnings of $154 million in the fourth quarter, topping analysts’ expectations of $128 million.
Reddit went public in march at $34 a share and has since seen its stock jump more than sixfold to $216.47 as of Wednesday’s close. The shares were up 32% this year prior to the after-hours selloff.
Sounds like I should have gone all-in on reddit stock. (If I had had money.)
Lemmy: HA! Reddit's DYING!
Fuck me, the site is poisonous with bots and manipulation, but I'm not going to act like it's failing. Same exact deal with Facebook. If I find a promising link to those sites, I'll have a look. Otherwise, don't participate.
When we say dying, we mean dying as a useful and usable platform for us, the former reddit userbase. The Reddit Corporation is a different thing.
We also mean dying as a place where you can meet and have interesting conversations that even when heated invite you into learning and thinking differently.
Lack of limitless quantity of voices does little inherently to degrade the quality of conversation, though of lack of diversity certainly does.
I have met singular people on the fediverse that I have learned more from and that contain more powerful words than entire swaths of corporate social media. It isn't because normies suck it is that there is no oxygen in the room in those places like there is here and it leads a culture of constant self betrayal, and a feeling of ever present glare.
Yep. The quality of discourse, which had already been trending down for years, fell off a fucking cliff when they started actively chasing most people worth a damn off the site (w/ API, VPN policy, etc).
Off topic but... Is that pic of spez doing the Poison Brett Michael's thing?
He looks like an evil elf. Actually, both of them do.
Fuck spez
Reddit has said it is working to convince logged-out users to create accounts as logged-in users, which are more lucrative for its business.
wat
Login bitch, we got some custom ads for ya
Funny. I actually noticed this the other day but thought it was isolated. For a couple days every time I'd google something the first result would be Facebook until I forced it to search for reddit
Pity.
ladidadida shlob on me knob
Lol
