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Reddit stock tumbles the most on record as lack of new AI deals, US daily users metric disappoints
(finance.yahoo.com)
this post was submitted on 31 Jul 2026
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Never forget that they killed the API for a mere $60M AI deal.
Like, if spez apologized and restored API access, and made an effort to kick fascists off the platform, I might consider going back. But as is, I will watch with glee as he fucks over everyone stupid enough to buy his IPO.
Besides apologizing and changing course, spez would need to leave before I considered going back. The way he behaved during the API BS ended my capacity to trust him in any way. Reddit as an organization, maybe they can turn things around and return to their purported values, but spez is not an honest person and will do or say anything if it serves his own interests.
60M USD is insanely cheap for that data, remember, it was categorized and structured into threads and subthreads in specific categories, not to mention all different languages already being mostly sorted and ready for consumption.
They could probably have got a few hundred million USD for it if they held out longer.
Most of the people who bought during the IPO probably already cashed out.
At this point, I don't trust any corpo platform. If I don't already use it, I don't need it. My efforts go where it matters, not to sites that don't love me back