I really wish users, who are the only ones that bring real value to a site like Reddit, could vote out the CEO. I guess we are voting with our feet, but it’s a shame that we have to go through this stupid lather/rinse/repeat cycle with every user contribution site.
We’d have to coordinate with WSB, and folks would lose money in this strategy, but those smooth brains with the diamond hands are good for it. As soon as the IPO happens, immediately buy all the shares available. Then do nothing. Volume needs to grind to a halt. Then at a predetermined time, a day later, a week, everyone dumps all their shares. Another huge spike in volume, but this time in a sell off. It will pop circuit breakers, and even those not part of the plan will join in. The price will plummet and Steve will be left holding the bag, trying to show that he has diamond hands.
I really wish users, who are the only ones that bring real value to a site like Reddit, could vote out the CEO. I guess we are voting with our feet, but it’s a shame that we have to go through this stupid lather/rinse/repeat cycle with every user contribution site.
well maybe not - if we move to not-for-profit platforms, there’s no enshittification cycle.
Just mods having unchecked power. But the good thing is we can transfer to another instance if that happens.
reddit is the means of production, but all of the value produced comes from the users, who are unremunerated
If we all buy stock during their IPO, we could vote him out…
Driving up his share price and his wealth. This is what he wants, it’s his exit strategy. He clearly doesn’t care if reddit burns at this point.
We’d have to coordinate with WSB, and folks would lose money in this strategy, but those smooth brains with the diamond hands are good for it. As soon as the IPO happens, immediately buy all the shares available. Then do nothing. Volume needs to grind to a halt. Then at a predetermined time, a day later, a week, everyone dumps all their shares. Another huge spike in volume, but this time in a sell off. It will pop circuit breakers, and even those not part of the plan will join in. The price will plummet and Steve will be left holding the bag, trying to show that he has diamond hands.