The real scary thing about the Reddit IPO is that we are headed into the age of the "strongman" leader and both Reddit and Twitter have been the preeminent voice of those against strongmen and tyranny. It was Reddit that gave those in Hong Kong, Ukraine, and Gaza a voice and promoted solidarity for them.
Both Reddit and Twitter are experiencing a capitalist assault because both threaten capitalist power. Twitter was neutralized when it was sold. Reddit is now being neutralized.
Shareholder influence will prevent Reddit from being a platform that can be used to speak truth to those strong enough to harm it.
This IPO is Reddit's graduation ceremony from a platform for speaking truth to power, to a platform for the exercise of power.
Looking at history of big default sub-reddits. That seems more accidental than truly being against strongman or establishment... The capture has been clear for years...
Both Reddit and Twitter are experiencing a capitalist assault because both threaten capitalist power. Twitter was neutralized when it was sold. Reddit is now being neutralized.
Shareholder influence will prevent Reddit from being a platform that can be used to speak truth to those strong enough to harm it.
This IPO is Reddit's graduation ceremony from a platform for speaking truth to power, to a platform for the exercise of power.