Gregory's ServerReddit is going public via the IPO route. Last year, the CEO got $193 million, but moderators are not paid and expected to work free past IPO. Only some moderators and active users in the USA can apply for Reddit's initial public offering to buy stock at a special price. Most Reddit users are motivated by fake karma points and likes. Also, they banned all unofficial Reddit mobile clients. Meanwhile, the CEO profits while everyone provides free labor.
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You can't browse NSFW subreddits without logging into your account. On Reddit, users share their adult content for free, while the CEO and management team benefit from the platform. This is why federated social media is important. One corporation should not have too much power to dictate how and what we are allowed to view without an account. Until last year, Reddit used to encourage many users to guilt-tripping them to buy their gold coins. Now we know who got paid with those gold coins. It was for the CEO's exorbitant salary. Lmao. I even brought some coins out of that guilt trip. I feel like such sucker. You can't trust anything or anyone these days. @nixCraft not to mention the ban on 3rd party clients because "it was not financially viable"   @nixCraft Reddit gold/awards are so silly imo, I always found it weird how up themselves people would get when they got an internet gold star.   @nixCraft In contrast, it costs 15 million dollars a year to run #Signal on a global scale! Reddit is not about the users anymore, hasn't been for a while. Users are nothing but a depersonalized recource, not customers. It joins Facebook in the corner of the slowly diying capital-infested rotting pile of broken platforms.  @nixCraft even when you are logged in you're not allowed to view NSFW unless it's through the app (at least in UK 😵💫) @cuteprince if you login then only VPN is allowed. Log out and see if you can browser from the desktop. They are gone truly crazy. @cuteprince@mastodon.social @nixCraft@mastodon.social unless they changed it, you can still view NSFW without logging in by using old.reddit.com instead of www.reddit.com  @nixCraft I expect that going public will show what a big, and quickly exploding bubble reddit actually is. I won't get anywhere near those shares. I will spend my money on more worthwhile investments.   @nixCraft Frankly, if anyone still moderates reddit then it's most probably because of the power fantasy. Why would you fuck up your daily life to do clean up 12hrs a day? |
@nixCraft got the "tos update" mail yesterday and swiftly deleted my inactive account there.