Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

Fidelity estimates Reddit’s holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

  • iWidji@lemmy.worldEnglish
    10·
    1 year ago

    For those who didn’t read the article, important note.

    The valuation decrease was as of May 31.

    It wasn’t even after the Reddit apocalypse! What is going to happen next?

      • iWidji@lemmy.worldEnglish
        3·
        1 year ago

        I think that’s a fair take that’s likely to happen. It really depends now on what Reddit does to try to normalize things or blow things up more. I think if they try to just rebuild relationships with their new group of users, they may survive.

        But they also seem equally as likely to find a new way to screw themselves over…

        • Corkyskog@sh.itjust.worksEnglish
          1·
          1 year ago

          They still haven’t replaced >90% of the moderators… it will take months, probably longer to feel the full effects. People will test it, and will get creative. There is a decent chance if they aren’t actively working on a sophisticated plan for thay, the website turns into an alt-right cess pool with CP that slips through the cracks.