Technology
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
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1: All Lemmy rules apply
2: Do not post low effort posts
3: NEVER post naziped*gore stuff
4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.
5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)
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7: crypto related posts, unless essential, are disallowed
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I agree. If anything twitter shows how overvalued Reddit is. Twitter has produced a profit at some point. Reddit has not. Another difference is Elon wanted to own twitter for God knows what reason and got other to buy into it.
As an investor I would have skipped on both buyouts.
Same here. I'm just pointing out that $5B is not unreasonable given other acquisitions in the field. Reddit has a lot of users, a lot of useful data, and relatively low hosting costs (mostly text, very little video or images).
Now the data angle I do get. I’m not sure how useful it is but it does seem to be used by some AI companies.
Lots of users doesn’t necessarily translate to profit. Often it just means more overhead.
That’s where Reddit has failed to make it profitable. In the 80’s we use to have bbs systems. They were hobbies. That is what Reddit reminds me of but with dipshits running it.