this post was submitted on 24 Feb 2024
539 points (97.4% liked)

Technology

59402 readers
3950 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
 

Reddit has never turned a profit in nearly 20 years, but filed to go public anyway::Reddit, the message board site known for its chronically online userbase and for originating much internet discourse, filed for its long-anticipated initial public offering on Thursday.

you are viewing a single comment's thread
view the rest of the comments
[–] topperharlie@lemmy.world 140 points 8 months ago (4 children)

honestly, it has the word AI somewhere in their last year activities, even if they don't do it themselves.

Investors are dumb as fuck, they know nothing about anything other than keywords and hype trains, so with the AI keyword they might go crazy on this.

I keep saying it, the stock market is a mistake for humanity, it doesn't make sense to put a gambling house in the core of the world economy.

[–] ininewcrow@lemmy.ca 72 points 8 months ago

But it isn't gambling ... It's managed and calculated financing in companies that need the investment in order to grow

I'm kidding, this is sarcasm .. the stock market is a freakin casino with built in cheats and frauds that favor the rich and wealthy.

[–] deweydecibel@lemmy.world 35 points 8 months ago* (last edited 8 months ago)

The stock market, much like capitalism in general, is useful if regulated properly, but the inherent corrosive nature of human greed on any regulatory system will eventually erode those regulations down and let this shit run rampant. There are genuine benefits to it, but they're buried beneath the sheer scale of wealth begetting more wealth at the expense of everyone else.

Part of it is that, to spite it being "gambling", it sure doesn't feel like there's a lot of losing going on with the biggest players. They don't seem to need to be as careful as you or I would need to be. It'd be one thing if it was fair gambling, but it isn't.

[–] unreasonabro@lemmy.world 2 points 8 months ago

Every decision made since before the first world war has been a mistake for humanity, from the way we deliver electricity to the way we run the economy to the way we run our education system. Just one big ball of mistakes coming right at ya, all with better alternatives available at the outset, all prejudicially rejected because you can't make dragon-hoard piles of money those ways.

Pretty soon we'll all die though, so there's that.

[–] kylua@lemmy.world 1 points 8 months ago

it doesn't make sense to put a gambling house in the core of the world economy.>

wise words