Reddit: Stock Market Boom Is Bad for Humans
SlateSign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily. As I write, a $1,000 investment at Reddit’s initial public offering would be worth more than $5,000 today—a surge of 400 percent, the sort of gain porn that the stock bros of r/wallstreetbets would take as an invitation to congratulate your wife’s new boyfriend on his windfall. “Beyond that, everything good about reddit is because of the users and mods.” The top comment on that post concurred: “Spoiler alert, it isn’t worth a penny.” And I doubt that Reddit’s newfound success will do much to please Redditors. Advertising is already getting out of hand; Reddit is now placing ads among users’ comments: “Everywhere i look now it’s fucking ads. Anyone who peruses Reddit regularly can’t miss the bots: As one user commented recently, “Pay attention to a lot of the new posts—they all start off the same.
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