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The Journal.

Can Reddit’s IPO Survive Its Own Users?

The Journal.

The Wall Street Journal

Business News, News, Daily News

4.25.8K Ratings

🗓️ 20 March 2024

⏱️ 19 minutes

🧾️ Download transcript

Summary

The social-media platform Reddit is making its stock-market debut Thursday and is offering a chunk of shares in its initial public offering to users, who are the lifeblood of its operations. But those same passionate users could cause trouble for the company. WSJ's Corrie Driebusch explains, and a moderator for the popular Reddit forum WallStreetBets weighs in. Further Reading: - Reddit Fueled Meme-Stock Mania. Now Its CEO Is Overseeing His Own Company’s IPO. - They’re Reddit Die-Hards. Do They Want to Be Shareholders, Too? - Reddit Eyes Valuation of Up to $6.5 Billion in IPO Further Listening: - ‘To the Moon’ - An Oral History of WallStreetBets Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

For about a decade, Newer Al has been an active user on Reddit.

0:10.0

I remember joining Reddit in the back of a math class. I think it was AP Calc and I was just bored.

0:17.6

I made this account so that I control people and I decided to stick around and be a good contributor. But back then,

0:25.0

Reddit as a whole was a very wild west. And I think that's what drew me and so many others into Reddit.

0:33.0

It was just the absolute insane variety of forums

0:37.3

with thousands or tens of thousands of people

0:40.7

thinking about the same crazy idea you are.

0:43.0

...

0:44.0

... Unlike other social media sites,

0:48.0

... ...

0:48.0

...

0:52.0

... ... ... ... ... ... ... ... ... ... ... determine which posts get the most visibility, by upvoting ones they like and downvoting ones

0:56.1

they don't. They interact using message boards known as Sub-Edits. There's all kinds of

1:01.8

different Sub-Edits like today I learned where people post random

1:06.1

facts they picked up that day. Today I learned Thomas Jefferson was so impressed by

1:10.6

macaroni and cheese during a visit to Paris that he wrote down the recipe

1:14.7

and served it at a state dinner in 1802.

1:18.6

Their shower thoughts, where users share random ideas that popped into their heads

1:23.4

while in the shower.

1:24.8

To not expose his identity, Batman is either driving the Batmobile

1:28.5

uninsured or is committing insurance fraud.

1:31.4

People are impressed by the uniqueness of snowflakes, but potatoes are equally unique and no one

...

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