Reddit Is Letting Power Users In on Its IPO. Not Everyone’s Buying::Reddit says it wants to reward users by letting them buy into the company’s public listing. Some say it’s too risky—others say they won’t pay a company they’ve already given hours of free labor to.
They’re just trying to get people to tie their real names, addresses, email, and financial information to their profiles, especially the ones with established post histories going back years.
They can figure some of that out, but all rolled up and verified by the account holder?
That makes their data on users waaaaaay more valuable to the people who buy data.
Now this is one part where I believe them. Public companies have strict controls on their investor relations. I can believe that they are going out of their way to keep their investor info separate from their user info. They will probably get fined by the SEC if they don’t.
That doesn’t make it a good investment, of course. I don’t want to be King Steven’s exit liquidity.
With Spez at the helm I’d be surprised if they didn’t wind up getting in trouble either way, guess time will tell.
I got an invite, too. I reported of as spam.
I also got one. I have a little bit of money sitting in a brokerage holding account, and I was already thinking of buying a single share as a joke (so I had the option to heckle them “as an investor in the company”). But I wouldn’t do it via their stupid IPO insider process. That requires the buyer to share some PII with reddit. And I don’t trust them as far as I could throw them.
How far could you throw reddit?
Have you seen the reddit meetups?
Not very far my friend.
No you didn’t. Your fantasies don’t count.
I’m guessing I know why I didn’t get let in on its IPO.
Not enough karma?
Dang, and you seem really torn up that you cannot throw your money in the trash :)
Apart from the fact that I’m too poor to do it anyway, pretty much.
This asshole is just exercising his options to take money from the same moderators that were up in arms over his changes last year. Make no mistake, this is Spez’s revenge.
I really hope this whole thing backfires on reddit, but I think the reality is that it will further enshittify until it’s profitable, and it’s already so big it’s unlikely to fail.
Lemmy just isn’t a replacement and I think the nature of lemmy will stop it from ever being one unless someone throws godlike resources at one giant instance that federates with basically nobody.
Sounds like you should buy.
Hey, I’m not connecting the dots about the revenge. Could you elaborate please?
They sent me an offer. I ain’t buying
There have been quite a few comments like yours here. Is everyone on Lemmy a former ‘power user’. That would be great.
In another thread a former mod said that both they and their bot had been given the offer.
Someone replied to me in another thread and said that they were giving invites out in stages based on number of mod actions or karma. The first cutoff was “only” 200k karma. The lowest was 20k.
I was thinking of signing up just to see the information but then I read the prospectus and realized it was a losing investment, plain and simple.
I apparently must be as I got one as well.
Last I checked my account was in the top 1% of karma.
lol yeah century club with a 16 year old account here. I got nothing.
I had two accounts over the years that I’ve gotten to higher tier levels.
It was honestly pretty easy back in the day. There were a couple of topics that I could pretty consistently get 5k+ karma from. Large subs with well known view points. Play into those and you take in massive amounts of karma.
I certainly never considered myself a “power user,” but I got an invite despite not using reddit since mid-June last year.
my old account before it got banned was well over 500k. I’d been on since 2013. yeah, most of us are power users I think.
I got one with 10k karma and 133k comment karma. Of course, most of my karma is from talking about cartoons, so I’m not sure that really makes me the kind of “power user” that would spend money on this.
I have around 700k comment karma
I got it via email. Reported it as spam. 🤣
Who the fuck is reddit
Some enshittified Lemmy alternative run by a megalomaniac who sucks Elon’s dick behind Wendy’s dumpsters and milks his userbase (but not in the fun way)
I did laugh when I was sent an offer for a stock preorder.
I wonder what’s considered a power user. Because I got one, and I wouldn’t have considered myself one…
What’s your approx upvote count if you don’t mind me asking? I wonder what their criteria is.
8 y.o. account, 23k post karma, 64k comment karma. So, not that much. Sadly can’t tell you over how many posts/comments, because the API Tools that used to count that all are dead. Obviously.
Interesting. I haven’t received anything and I’ve had my account for about the same amount of time but have 100k karma. Most of mine is also comment karma.
I have over 100k comment karma (and much less post) and got an invite. It’s meaningless anyway as I am not a US citizen.
Oh, for me too, I still find it interesting
I got one a week ago.
I did some digging on who gets what when and over the course of about a week and a half they have three tiers.
I think the first was 200K+, then I think 50K+, and then 10K+ off the top of my head.
Thank you!
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Just getting the opportunity to register an account to be included in the IPO presale event.
Just an FYI, that’s a bot, possibly either for a news site, some kind of valuation service, or for AI. Half hour old account that’s asking related questions and quoting the entire context of the question, and offering no actual input beyond that.
It looks like everyone big in crypto scam and market manipulation have such qualities. Most of them are alt right and Musk fans so it is easy to spot them.
Huh?
Say a negative thing about Brave or any of alt right hate campaigns against anyone who likes diversity. They will keep down voting whatever you post/comment and insane things happen. E.g. 2 comments supporting the same idea in the same post scoring +20 and -20. The best thing to do against is not to be there at the first place. People who think they are highly technical, nerd, bright or have elite taste shouldn’t work for Spez, for free.
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It’s based on Karma or mod actions and the invites are going out in waves. I’ve taken a screenshot from reddit’s faq page regarding the program that shows the tiers.
Hm, 25k karma is not what I’d call a power user, but ok. Thanks for sharing.
They’ll only invite people at that level if nobody buys at the higher tiers.
Oh, that makes more sense
Imagine being in /r/centuryclub but still not being cool enough to get into the real exclusive club - Group 1 reddit IPO.
I got one, and though I’ve accumulated a bunch of karma, I haven’t been regularly active for months.
We are letting you in to take a slice if this juicy juicy pie only because you are special. Seems sometging out of a dodgy salesman or a conmans playnook to me
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I got an invite. Couldn’t invest even if I wanted to because I’m not a US resident.
Larger market manipulators have every mean to buy the shares, bank accounts at USA etc. I guess they are targeting them to help IPO.
Ditto
I got the invite but unprofitable companies don’t really make up a large part of my portfolio
Exactly. It might be that the content they own (that we have them) is worth enough for them to be profitable, but I’m not going to put money down now based on something that might happen later. They’re not a startup, they’ve been operating nearly 20 years!
You know what I did with the message I got from Reddit about this? BALEETED
Mine was DACHEATED.
If it gave me the right to short then yeah, I’d be in on that.
And that’s when everyone else goes… “to the moooooon!” 🐄🚀🌛
HODL, YOU AUTISTS!
#fuckthoseableistWSBcunts #actuallyautistic
I got one even though I’ve not posted in months, let it go when I made an account here. Old account though so maybe whatever algorithm they used didn’t look for recency. I don’t think I’m interested, it seems to me they have already passed the peak and are on their way down, and going public will surely just accelerate the decline.
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Fuuuuuuuuuuck that shit
