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How is Lemmy better than Reddit?
(lemmy.world)
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this post was submitted on 15 Aug 2024
300 points (89.1% liked)
No Stupid Questions
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1077 users here now
No such thing. Ask away!
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founded 1 year ago
MODERATORS
Owners:
Advance Publications (30%)
Tencent (11%)
Sam Altman (9%)
Conde hasn't owned reddit in a while. I assume the remaining percent is the parent company Reddit Inc or stock options or something. Let's see what that's worth:
Operating income −US$140 million
Net income −US$90.8 million
Total equity −US$413 million
Yes those are all negative numbers. Why anyone with at least two functioning brain cells who isn't also a greedy little pigboy would touch reddit stock with a ten foot pole is baffling.
Potato, potato
Not really because before Conde was the parent with the ability to control and direct, they're more like a cousin with no input now.
Dude I don't care whose name is on the building, it's the same effective ownership