🤖 I'm a bot that provides automatic summaries for articles:
Click here to see the summary
On r/technology, the top comment on the IPO story is, “The beginning of the end.” There’s gloomy speculation about the measures management may take to make the company profitable — which subreddits might be banned, how much users might have to pay to post, a heavier ad load.
“While the rest of the internet is all a giant mess, Reddit still feels like a place where you can learn things and have fun,” says u/itsreallyreallytrue, who also received an invitation and is considering buying into the share program.
Events such as the war in Ukraine and the release of the video game Elden Ring — these are Reddit’s own examples — lead to spikes in user engagement.
Sure, Reddit’s trying to diversify its revenue by selling its data to help train AI; I don’t think the timing of that Google deal, just days before the S-1 became public, was a coincidence.
(During the peak of NFT hype, some of these assets sold for millions — and now the majority of NFTs are “worthless.”) It also had to end the Community Points product, which was a disaster for many whose tokens suddenly had no value.
He’s said that the API price increase last year that led to user protests, for instance, was partly because “Elon Musk did it.” (How’s Twitter — sorry, I mean X — doing with advertisers, spez?)
Saved 84% of original text.