Comment on Reddit stock falls for second day as references to its content in ChatGPT responses plummet
BakerBagel@midwest.social 2 weeks agoI understand how stocks work. Reddit stock is just a legitimizes greater fool scam as no one will ever get a dividend or see any return in their investment short of managing to sell the stock for more than they bought it. Reddit is absolutely worthless in an strictly economic sense. It’s value is soley in societial and political ways
NuXCOM_90Percent@lemmy.zip 2 weeks ago
So… it is a stock that doesn’t pay dividends? Like… that is what stocks are.
BakerBagel@midwest.social 2 weeks ago
Which will only actually ever benefit anyone that owns massive amounts of the stock. Reddit has few tangible assets other than their data, which is of questionable value at best. It’s basically like owning stock in a piblic library
NuXCOM_90Percent@lemmy.zip 2 weeks ago
Homie? I assume you are just looking to hear “reddit bad” and… it is.
But if you are actually attempting to discuss things in good faith? You are just describing stocks and you should REALLY educate yourself on the subject if you ever intend to invest beyond retirement and mutual funds… which most people shouldn’t in the first place but that is an even bigger tangent.
BakerBagel@midwest.social 2 weeks ago
I am looking at it froma purely financial standpoint. The inky thing Reddit really produces is semi-anonymous data that is tied to an email address. The quality of that data is iffy at best, while they have massive expenses just to keep the site operating. They can charge for their API calls, but they will never be able to use that to generate actual profit since no one will ever pay for it at that price point.
Something like Reddit or twitter are useful if they are owned by powerful individuals or corporations that wish to influence the public. It is worthless as a strictly financial vehicle because it produces no profit and has assets that are not not equal to the cost of maintain them. You would only buy stock in reddit in the hopes that some billionaire thinks they can do a better job running it than Elon Musk did with twitter. Otherwise reddit stock is just a volatile place to park your cash in the hope that you can sell it for more later.