Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.
honestly, it has the word AI somewhere in their last year activities, even if they don’t do it themselves.
Investors are dumb as fuck, they know nothing about anything other than keywords and hype trains, so with the AI keyword they might go crazy on this.
I keep saying it, the stock market is a mistake for humanity, it doesn’t make sense to put a gambling house in the core of the world economy.
The stock market, much like capitalism in general, is useful if regulated properly, but the inherent corrosive nature of human greed on any regulatory system will eventually erode those regulations down and let this shit run rampant. There are genuine benefits to it, but they’re buried beneath the sheer scale of wealth begetting more wealth at the expense of everyone else.
Part of it is that, to spite it being “gambling”, it sure doesn’t feel like there’s a lot of losing going on with the biggest players. They don’t seem to need to be as careful as you or I would need to be. It’d be one thing if it was fair gambling, but it isn’t.
Every decision made since before the first world war has been a mistake for humanity, from the way we deliver electricity to the way we run the economy to the way we run our education system. Just one big ball of mistakes coming right at ya, all with better alternatives available at the outset, all prejudicially rejected because you can’t make dragon-hoard piles of money those ways.
Pretty soon we’ll all die though, so there’s that.
wise words