- cross-posted to:
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- cross-posted to:
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Good job, Spez, you fuck!
Yay reddit worth less, wtf it’s due to chatgpt?
Reddit banned me today for making a joke that the patch title for Guild Wars 2 could match real life events.
What is the patch name? The Mad King and his Lunatic Court.
Permanently banned for what? Harassment.
Not how I expected GW2 to come up on Lemmy… But here we are hahaha
I wish I could say I’m shocked. That site has fallen off so hard it’s crazy. The censorship has gone mad. It’s the main reason I’m here.
Hopefully the mods on lemmy don’t go power hungry
Wouldn’t really matter in a federated network like this. Mods banned you from a community? Make a new one. Account banned? Move to another instance.
There’s zero reason to feel attached to online accounts like these, which is the only thing you can lose on Lemmy.
I remember thinking back in 2021 or 2022 when it was announced they were going public that yep, this site is gonna be gone soon.
Oh my god I somehow forgot that Reddit IPO8ng means I get to read stories like this.
Oh no, the world’s most poorly managed and funded corporate social media website’s with a publically traded stock is tanking, oh nooooo!
Ahahahah!
Huh.
Does anyone else think that ChatGPT is still using the data, they’re just not referencing Reddit directly?
This is how you can tell Reddit’s $200+/share price is insane. Over 10% of its value dropped based on a different unprofitable company’s references to ingested content.
Yikes!!
The entire stock market has become a meme stock pyramid scheme. No price makes sense; it’s all glorified gambling making life on this planet worse for most living things.
⚜︎ arscyni.cc: modernity ∝ nature.
This is how you can tell Reddit’s $200+/share price is insane.
Well, that and the P/E is 180. Typical target P/E on a stock is 15-20, depending on your anticipation of its growth. But we’re expected to believe Reddit’s earnings will be 9x their current income in… some nebulous amount of time?
Like, its silly to get excited about a company this hyperinflated seeing a tiny slide off its new peak. But also, you can’t help be bearish on a firm this flimsy.
Yes, but Oracle’s stock skyrocketed based on the unprofitable OpenAI promising to buy >100B worth of AI data center space from Oracle. Nvidia stock also surged on the news, since Oracle builds those data centers with Nvidia chips
Obviously OpenAI doesn’t have the money to pay Oracle themselves, so Nvidia has helpfully given them the money
So now we have an incredibly large cyclic corporate dependency of money from Nvidia -> OpenAI -> Oracle, then back to Nvidia. Definitely not a financial disaster waiting to happen
They haven’t even spent the fucking money yet. It’s just announcements of intentions, with a fraction of that $100B in outlays. Nobody seems to want to say who gets to be the one holding the $100B at the end of it, either.
Presumably they’ll all just do a stock swap and tell their vendors “We’re good for it, check’s in the mail”?
Reddit’s value is its ability to use bots to manipulate and distribute information. It’s just like Twitter, meta and all the other social media platforms.
No, it’s value is that users have up voted and down voted good and bad data. This gives the AI training data that has been crowd sourced by humans. Bots manipulating votes would destroy the value of Reddit.
There are absolutely vote manipulation campaigns still happening.
See this from 12 days ago: https://old.reddit.com/r/privacy/comments/1nldj4m/why_are_we_all_just_accepting_metas_new_spy/?sort=old
12 days ago almost every top-level comment was below -50 and responses were untouched.
Of course there are. That doesn’t mean the majority of the site is compromised.
As a user of the website for many years it’s entirely obvious that a majority of the website is gamed (besides its niche corners). Reddit’s bot prevention mechanisms just fuck VPN users - they are wholly inadequate.
That thread is evidence of a organized bot campaign that they had 12 days to clean up (and didn’t). It’s naive to believe that the rest of the website isn’t similarly (and less obviously) affected by bots - with vote manipulation still standing.
Bots have been controlling votes on Reddit for years. It costs about $50 to get to the front page of Reddit.
Which is also generally very detectable (if you actually care) and is generally used to push (monetized) social media and not the answer to “what is the difference between normal and merino wool?” and so forth.
The vast majority of the “user” interaction and memes is not the product (at play. it IS useful for societal manipulation but there are better platforms for that). It is all those useful questions and answers that people get pissy about folk deleting the answers to.
Because people, generally, weren’t searching for
team edward or jacob redditbut insteadthe fuck is a renesme redditorLED versus fluourescent bulbs redditand so forth. And the community labeling of the latter is generally REALLY good.Things DO get messy when the question becomes
best synthetic boxer briefs redditbut… it is incredibly rare for an astro turfing campaign to be strong enough to get a genuinely bad product “on top”. You tend to just get an overly expensive branded white label in the top slot which may actually be identical to the “real” best one anyway. But considering you are relying on human opinion regardless, that isn’t far off of what you were gonna get without said astroturfing.
Ok, so how does a shareholder benefit from that? My company that pays people to stomp on kittens at my kitten stomping factory has value in that in gives people jobs and controls the feral cat population, but it creates no profit for the shareholders.
Companies pay for API access so profits go up and stock value go up.
I assume the reddit stock doesn’t pay dividends based on profits. But if you bought for 10 dollars and now it is 500 dollars? You can sell some of that stuck to people hoping it will go up to 1000 dollars for a solid profit. And so forth.
And if it DOES pay dividends (some kinds of stocks do) then a percentage of those profits are directly sent to the share holders based on how many shares they have.
I 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
see any return in their investment short of managing to sell the stock for more than they bought it
So… it is a stock that doesn’t pay dividends? Like… that is what stocks are.
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
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.
Reddit shareholders also own a lot of shares in much more lucrative industries.
I didn’t ask about their other shares. I asked how Reddit’s soft power is able to actually benefit shareholders. I understand how it benefits Spez and those who make the actual decisions at reddit, but if I own 400 shares of Reddit, how do i actually benefit since Reddit will never pay a dividend since it will never actually be profitable
The people in power don’t care about people with a few shares. You can sell all your shares right now and nobody would notice.
Reddit’s power benefits whomever wants to push an agenda and a narrative while minimizing any info that could counter that.
How is that any different than what i initially said?
Yeah reddit’s a weird one. Their financials, aside from this year, are also horrendous. Not sure what value they really bring.
The ads/manipulation does a thing that helps you attain profit or power. You want to manipulate what people see and pay for… so you pay reddit to allow you to mass deploy bots bypassing moderator levers. They have the community, you have the objective, you pay for the help of doing this and they probably have their own bot farms included.
They can even internally flag these entries as bots and use their AI partnerships to analyze what works on users and what doesn’t to trigger a specific response, and to avoid using techniques that get called out as bots.
They have their public ‘sponsored’ content, but I promise for big spenders they have a program that has no sponsorship callout. They probably brand it with nice fancy marketing terminology that makes it sound like you’re an angel doing god’s work by driving conversions or some stupid shit.
I understand that Reddit has value to an individual or small board that can control what is posted to reddit. What i am saying is that Reddit’s value is entirely in soft power and has no actual path to profitablity. If i am Condé Nast then i can benefit from owning reddit. But Reddit will never pay a dividend, so buying stock in the company is worthless unless you are convinced that some idiot will pay more for it down the road.
While I don’t agree with the reddit valuation to begin with…
that is actually how the stock market “should” work? Reddit is a company that, at its core, produces data to sell to other companies. If other companies choose to (say they are not going to) use that data, then the value of reddit drops. That is literally supply and demand.
If Stanley’s Sprockets’ sprockets are a vital part of iphones then Stanley’s Sprockets is going to be a very valuable company. If Apple changes to the other dude’s product, Stanley’s Sprockets has now lost a lot of value.
Reddit produces nothing. They dupe their users into doing that. Which seem to largely be bots now.
Couldn’t happen to a nicer company
Fuck Reddit and Fuck Spez.
Oh no!
Anyways what’s everyone having for lunch? I’m having bean burritos.
Tomato soup because of the flu… What other kinds of burrito would you recommend besides bean burrito?
Try chorizo, potato and scrambled eggs sometime.
Absolutely kickass breakfast burrito, get real chorizo tho
Leftover chicken and rice!
heh I wonder if all the “old” content getting messed with and/or removed is causing issues with the algorithm/scraper.
For unauthorized scrapers? Definitely
For paid API usage? That tends to not be public for obvious reasons but, allegedly, people have, allegedly, done tests and found “deleted” content in the results.
Ive heard the same but I haven’t seen real evidence anywhere, so im skeptical. But yes I agree, if they CAN get that data, it means the training data is better-ish…
But we are still on this site for a reason :)
I mean… if the reason you left is because you didn’t want your data scraped then… the fediverse is one of the worst places to go? Because anyone can run a modified lemmy instance to pull everything through the tools specifically designed to do that.
Let alone just scraping websites that don’t have teams of big corporate lawyers.
It’s all relative I guess. I can see why the original GPT’s used the Reddit corpus for training. However I’ve always been a little sceptical about the quality of the training set in any social media given how much it exaggerates the extremes of people’s behaviour.
That’s why I edited everything before deleting it.
I did this too but reddit reverted everything back to how it was and undeleted my account
Looks like me too. Time for a cease and desist.
I edited everything before deleting it, double-checked it was still deleted periodically, and it all got restored sometime earlier this year.
Just checked my old account again, and all edited content is still there, with “Fuck u/spez” appearing as the top comment in some posts that are like 12 years old
Version control mother fucker, do you speak it?
But, in all seriousness: That is what they use for the comments. It is why a lot of the mass delete tools were “accidentally” undone during The Exodus. Because it was literally just rolling back. Theoretically there might be a limited number of revisions available but if you believe that I have a bridge to sell you. Because imagine if A Brown Person wrote a message then edited it five times so that Chloe couldn’t alert Jack Bauer to who to torture
This is certainly part of OpenAI’s plan, and a warning shot to other user content-driven sites. An extortion play, if you will, which is business as usual now for fucks sake.
fuck reddit! into the sun with it! post haste
Good, hope it crashes.
They were the architects of their own demise
