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What’s next: Reddit is likely to go public next week.

      • banghida@lemm.ee
        2·
        10 months ago

        This is quite common on the wall street. Companies are in the business of selling stock, not making money on the free market.

    • DarkThoughts@fedia.io
      111·
      10 months ago

      Honestly I think he’s gonna sell Reddit as soon as he can get a decent enough offer. It’s a sinking ship already.

      • thantik@lemmy.worldEnglish
        43·
        10 months ago

        Yes it does. Hammers are like $0.20 to make, and sell for like $6. And they don’t cost millions to keep working either. This isn’t the example you think it is, hahaha.

        • Carighan Maconar@lemmy.world
          25·
          10 months ago

          Plus even if you just look at it as a tool, it does turn a profit, via being a tool. That’s why a business gets a few, despite them originally costing them money. There’s expected value in the hammer. It exists, physically, and it has turned a profit plenty before.

          • WraithGear@lemmy.world
            2·
            10 months ago

            My intention is that the value of the thing is what it can be used for. Its a tool that can be used to spread propaganda, and control the narrative. For the owner it’s a means to an end. Guess i should have clarified.

            • Revan343@lemmy.ca
              2·
              9 months ago

              That works for privately owned companies-- the current example is Twitter, which is useful for pushing propaganda.

              It doesn’t work for publicly owned companies, because public investors are only interested in profitting

      • Aphelion@lemm.ee
        12·
        10 months ago

        A hammer is not a company that has created and maintained a product platform that requires a cash-flow to keep funding development and keep the servers up.

        • WraithGear@lemmy.world
          1·
          10 months ago

          I was intending to use it as a metaphor. Meteors usually are not the exact thing they describe. Its goal doesn’t have to be a thing that turns a profit, when it can be used as a tool in other ways. I didn’t do a good enough explanation of my meaning

          • HootinNHollerin@lemmy.world
            2·
            10 months ago

            Ah was joke reference to the Mad Money tv show stock investor guy, who notoriously has a following of people who invest the opposite of what he recommends

  • I Cast Fist@programming.dev
    3·
    10 months ago

    Pffft, I love how “market” news never have to deal with reality checks. Guess I’ll make a shovelware company, make 2 shit games and announce an IPO, “Totally expecting at least 1 billion valuation, it’s totally worth it, you guys”