What’s next: Reddit is likely to go public next week.
$6.4 billion for a company that has never turned a profit in the last 18 years? Lol
Yes, seems delusional at best
Well nothing new for Huffman to be delusional and out of touch. Affluenza afflicted ass.
This is quite common on the wall street. Companies are in the business of selling stock, not making money on the free market.
I’m pretty sure the leadership just wants to cash out ASAP.
Otherwise they might aim even higher like Twitter did.
Honestly I think he’s gonna sell Reddit as soon as he can get a decent enough offer. It’s a sinking ship already.
A hammer doesn’t turn a profit either. Its a tool used for a purpose.
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.
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.
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.
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
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.
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
Jim Cramer, that you?
I get the other responses as i wasn’t very clear on my meaning, but this confuses me.
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
A hammer is a tool to be used to smash my testicles into a paste
Any bets on how long after going public they go back on their promise to never get rid of old.reddit.com?
Feel bad for the people who buy it lol, excluding the day traders planning to inflate it before riding it into the ground.
Remember the wolf of wall street when pump and dump schemes could get you jailed? Jordan Belfort looks like the honest guy in today‘s economy.
When bad things happen to bad people, the world feels right.
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”
enshittification imminent.
