this post was submitted on 24 Feb 2024
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)
submitted 8 months ago by [email protected] to c/[email protected]
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[–] [email protected] 15 points 8 months ago (1 children)

Reddit has a near-monopoly on forum communities. It is ranked 16 on similarweb and no other competitor comes even close in terms of community size. It's like Facebook in its dominance.

[–] [email protected] -2 points 8 months ago (2 children)

Is it though? Everyone I know aged 20 to 85 i on Facebook, some more active than others. I think I know 3 people irl that use reddit. Mind you I'm not in the US, where is more prevalent but most people I know have barely heard of reddit.

Sure, it has near monopoly on forum communities but that's a tiny niche on the internet

[–] [email protected] 2 points 8 months ago (1 children)

Most normal people don't admit to using Reddit, and it is not a platform you use to connect with friends in real life. Facebook has a different use case entirely.

[–] [email protected] 1 points 8 months ago* (last edited 8 months ago)

Fair enough, still feels like we are comparing nestle with your city's local chain of 7 minimarkets, sure I might have a few more acquaintances that use reddit but that is not 100% of them. I did a quick search from my phone, hope the sites is reliable and that I didn't fuck up anything

According to this reddit had just under 75 million daily active users in q3 2023 https://www.statista.com/statistics/1453149/reddit-quarterly-dau-by-region/

In the same q, Facebook had https://www.statista.com/statistics/346167/facebook-global-dau/ 2110

So reddit need to grow another order of magnitude for op statement that it is comparable to fb in its dominance to become remotely true. Ideally two orders of magnitude.

I get it, we have all spent too much time on reddit for years and feel like that's basically the whole of the internet but we are biased, there is a whole majority of people out there that don't even know that exists

[–] [email protected] 1 points 8 months ago* (last edited 8 months ago) (1 children)

Your first sentence suggests you're disagreeing, but nothing you said after that is incompatible with anything gp said.

[–] [email protected] 1 points 8 months ago

They are saying it's like Facebook in its dominance, I'm saying it's not like Facebook, clearer now or you want me to come over with a whiteboard?