Reddit web service hit by strike by thousands of users over new policies, threatening scheduled public offering
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Posted by: LateForLunch ®

06/13/2023, 01:30:01

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https://www.cbsnews.com/losangeles/news/thousands-of-reddit-communities-go-dark-to-protest-companys-controversial-new-policy/

I'm not sure the company's efforts to monetize their  services are going to work, since their company needs some of the people they are going charge in order to remain functional. Twitter is in a similar situation, but Reddit is in a worse one presently. The Reddit company is about to try to go public with an offering soon - this strike and ongoing strife seem to indicate less-than-optimal conditions for that. 








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Reddit will survive in some way, even if many of it's users are rightfully outraged.
Re: Reddit web service hit by strike by thousands of users over new policies, threatening scheduled public offering -- LateForLunch Post Reply Top of thread Forum

Posted by: Ihavenoname ®

06/13/2023, 02:00:51

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Unfortunately, protesting can only get you so far. Going on strike for two days will probably make a small dent. If a vast majority of Reddit users leave instead and cause the revenue to suffer, that would be better.

Nonetheless, I support the strike.

But CEO Huffman doesn't care nor is he worried at all. He'll get away with the money easily.

And Reddit is a terrible place to discuss politics, especially if you're "a conservative who supports orange man bad." Their rule: liberals welcome, conservatives not! Reddit is so toxic. Just look at r/Seattle and r/SeattleWA as an example.

If someone like me were to use Reddit for general advice (non-politically related), that would be ok. Politics, no.

Places like Reddit need to be more decentralized. Or have better alternatives instead (not in this case).






Modified by Ihavenoname at Tue, Jun 13, 2023, 02:14:10


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If the IPO is disrupted that would be more than a small thing, no?
Re: Reddit will survive in some way, even if many of it's users are rightfully outraged. -- Ihavenoname Post Reply Top of thread Forum

Posted by: LateForLunch ®

06/13/2023, 03:03:05

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Don't they need to get a strong showing in revenue ( market capitalization)  if they want to be listed on the exchanges? 







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That's right. But CEO Huffman seems to have something up his sleeve.
Re: If the IPO is disrupted that would be more than a small thing, no? -- LateForLunch Post Reply Top of thread Forum

Posted by: Ihavenoname ®

06/13/2023, 09:48:23

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By the way, what a horrible person the CEO is. He will not back down on his incompetence. 

Nonetheless, I hope it's just outright arrogance the CEO has.

He should be fired. Greed has a price.

My concern is his unfazed attitude when he hosted his "ask me anything" event a few days ago. Even if the IPO collapses, what is he trying to accomplish? Satisfying his ego?

I hope I'm wrong, LFL. Reddit needs to crash and burn from this mess.







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" . . . what is he trying to accomplish? Satisfying his ego?" -- That would be my guess.
Re: That's right. But CEO Huffman seems to have something up his sleeve. -- Ihavenoname Post Reply Top of thread Forum

Posted by: Russ Walden ®

06/16/2023, 14:04:07

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Now he (Huffman) wants to rule with an iron fist.
Re: " . . . what is he trying to accomplish? Satisfying his ego?" -- That would be my guess. -- Russ Walden Post Reply Top of thread Forum

Posted by: Ihavenoname ®

06/16/2023, 19:08:48

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Seems more like he is ruling with a bony head. (rolls eyes)
Re: Now he (Huffman) wants to rule with an iron fist. -- Ihavenoname Post Reply Top of thread Forum

Posted by: LateForLunch ®

06/16/2023, 21:48:43

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I wonder where this wave of horribly bad management of businesses has come from? Don't the shareholders CARE if their companies are being decimated by stupid managers? 







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Huffman is ruling with stupidity, isn't he?
Re: Seems more like he is ruling with a bony head. (rolls eyes) -- LateForLunch Post Reply Top of thread Forum

Posted by: Ihavenoname ®

06/17/2023, 00:21:19

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He "thinks'" he has an iron fist, but he's ruining one of the most popular websites on the web for everyone (including me)!







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