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this post was submitted on 16 Dec 2023
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the_dunk_tank
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It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
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Thoughts on the wisdom of betting against reddit once it goes public? It sounds like free money, especially now that the VC money faucet is turned off.
Personally think it's going to be a rollercoaster of ups and downs. Depending on the starting price r/WSB hype might pump it to begin with. There's no real telling what happens if that fuckhead Elon involves himself too.
In the longterm I predict there's way too much cancer on the site for it to survive with the financial incentive people will have to use that cancer to tank the value. But again it depends on how much they clean up before IPO and whether that clean up avoids a drama collapse in and of itself.
Long term shorting below the open seems wise in that case. They still don’t have an income stream that covers costs right?
I think Spez said a while ago that they were in the black. So I'm not really sure. Various financials will have to be made public too though I think? There's no way that's going without incredible scrutiny.
I will make Reddit die through the power of ascending to godhood
If it makes sense, Palantir proved that being a favorite of the deep state doesn’t reflect stock price. I eagerly await the opening of the books
I'm convinced that the company is being propped up by CIA money, which means they could keep the lights on for decades. They've done it before, dumped money in businesses to keep them afloat because they were part of an intelligence operation, like that company that sold encryption machines to foreign governments that all had secret backdoors built into them. Reddit has never made money and it probably never will. Idk as much as I'd like to bet against that hell site I think the thumb is on the scales
Once again people gotta read Palo Alto, so much of this shit is literally being propped up by CIA money.
what is that?
New book by Malcolm Harris about the history of California, Capitalism, and the world. It's also referenced in the wounded knee featured post
There is a PDF of it here in the Chunka Luta library
It's in the required reading folder.
listening to the Kids These Days: Human Capital and the Making of Millennials audio book
Especially after they ousted the creator by trying to lock him up for life because he shared books
Are you talking about Aaron Swartz or someone else?
The people planning the IPO are going to try really hard to time/hype/price it so that the stock goes up for a while. They might not succeed, but they'll keep stalling until they think they can. So give it a few weeks or months before you start betting against it.
Also use puts instead of actual shorts.
Listen to the Owl on this one.