this post was submitted on 01 Jul 2023
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Reddit Migration
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If you're waiting for spez to admit how wrong he was and blah blah, don't. All he cares about is his payday when the site goes public. He'll never admit his decision was wrong because he'll get booted as CEO
Their valuation went from 15bil to 5bil and I fully expect it will be halved again before they, if ever, actually IPO. Reddit already wasn't worth what Spez thought it was and this whole situation is just showing investors it's worth even less if the user base can revolt in the way that it has.
I find it strange that today is the first day I haven't seen any links to articles about Reddit, maybe online news sites are taking the day off haha.maybe they're just waiting to have actual data before reporting, again surprising if true.