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Reddit stock tumbles the most on record as lack of new AI deals, US daily users metric disappoints (finance.yahoo.com)
submitted 3 months ago by to c/technology@lemmy.world
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[–] 13 points 3 months ago (2 children)

Your last paragraph is a major point that I think a lot of people don't think about, and I'm surprised Reddits executive team didn't bail as soon as the AI was finishing the scrapes.

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  • [–] 4 points 3 months ago

    They didn't need to bail since they did the IPO and could just sell their shares. I haven't kept an eye on how much insider selling has gone on but I am sure they all have made bank over this past year, it is public info if anyone feels like looking it up. I would expect if the stock prices continues to tank and stays down you will start seeing executives abandon ship for greener pastures.

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  • [–] 1 point 3 months ago

    They have their own AI, but it’s an eyesore that undermines searching in a mobile browser. They added it after an update further deteriorated the Reddit App experience.

    So they:

    1. further enshittified the app,
    2. put AI in the search bar.

    And that’s within the last year or so.

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