Reddit enrages users again by ditching thank-you coins and awards::Reddit, which is still dealing with the fallout from its last controversial decision, said it plans to phase out coins and awards.

  • phx@lemmy.ca
    link
    fedilink
    English
    arrow-up
    36
    ·
    1 year ago

    Feels like Elon bought Reddit and we just haven’t heard about it yet

    • InternetTubes@lemmy.world
      link
      fedilink
      English
      arrow-up
      7
      ·
      1 year ago

      Sort of feels like spez made a bad decision, went all out on it, and in order to drown out the consequences he decided to snort some crack before deciding what to do.

    • TWeaK@lemm.ee
      link
      fedilink
      English
      arrow-up
      6
      ·
      1 year ago

      I prefer to think that it’s all coordinated by real life Bond villain (and Musk’s old business partner) Peter Thiel. He failed at setting up competing Twitter platforms, so he got Musk to buy and tank it. After seeing how effective that was they roped in reddit’s owners to undermine that as well.

        • TWeaK@lemm.ee
          link
          fedilink
          English
          arrow-up
          5
          ·
          edit-2
          1 year ago

          Definitely not. Here’s the breakdown of the $44mil purchase:

          • $5 mil from other investors, including a Saudi prince
          • $26 mil from Elon, underwritten by stocks in Tesla (which significantly dropped in value after the purchase)
          • $13 mil in a loan that Twitter took out to buy itself on Musk’s behalf.

          Twitter could hardly pay the interest on that $13 mil, even before Musk tanked the company’s revenue. Either Twitter steps into line and gets more investment from right wing control freaks, or it dies - both could be seen as a win in the eyes of Peter Thiel or the Saudis.