Technology

This is one of those rare cases where what is being said is less interesting than who says it.

What: Reddit stock is junk, the IPO will fail hard, and anyone investing on it is begging to lose money. I believe that most people discussing this in Lemmy already know that, so the info isn't new here.

Who: Forbes. Forbes' target audience is investors; greedy vulture capitalists love it. So if Forbes says "it'll sink!", investors are less eager to buy stock, and that sinks the stonks even further. So what Forbes says is often a self-fulfilling prophecy.

I'm glad that Forbes is doing it. I want to see Reddit die.

EDIT: as other posters are correctly highlighting, I derped - the article is from a "contributor", and it has basically no impact or visibility.

Damn - now I want Forbes shitting on the IPO!

Their pre order ipo is wanting and planning on like $31 to $34 a share. I'm thinking no.

More specifically, Reddit notes in its S-1 that, as an emerging growth company, it will:

• present only two years of audited financial statements in the S-1,
• not be required to obtain an auditor’s attestation report on the company’s internal controls over financial reporting requirements of the Sarbanes-Oxley Act,
• provide less extensive disclosure about executive compensation arrangements, and
• will not require stockholder non-binding advisory votes on executive compensation or golden parachute arrangements,

That sure sounds like a solid investment

Also, the two classes of shares (new shares get 1 vote per share, existing shareholders get 10 per share)… what the fuck. Why would anyone buy that shit

When I look at those numbers I think “Apollo was made by 1 dude with some occasional help from another person. Reddit is throwing half its budget and 200+ bodies at its app and site, and it’s a fucking disaster.”

Return Of

It never left, bro.