I’m middle aged and my phone basically just has rhythm games
ragebutt
joined 2 years ago
It’s not but it’s android only and that person is pretty clearly rocking a newer ARM iphone
I promise you your definition of worthless is far different than an investors
The stock market is overwhelmingly owned by about 10% of Americans who tend to be on the very wealthy side and the “mindless capitalism drones who simply want number to grow” side. They just see user growth and applaud. They love this change and all the changes Reddit has made over the past few years because it means harder to scrape for free and more likely to convert casual browsers to users
What is potentially killing Reddit (and twitter, Facebook, etc) is that advertisers are starting to lose patience with bot activity, which is the overwhelming amount of content on social media. The misleading statistic that those companies throw out is that bots make up a (relatively) small amount of accounts, which is arguably true, but sidesteps that those bots post like crazy. Thus the “power user” effect, where 5-20% of the user base makes up like 90+% of content. Advertisers are getting wise to the fact that an overwhelming number of social media interactions are just nothing (and no one they can sell to) and they’re starting to demand better analytics as well as run their own
This is where Reddit is potentially screwed; meta has dozens of other things to fall back on besides ad revenue. Twitter has Elon propping it up. But this is still pretty wishful thinking, the reality is that Reddits valuation will likely be propped up by institutional investors for years, maybe decades, on the hope of something that never comes (see: Tesla). The quality of the site is essentially irrelevant
Reddit sucks but this is asinine. The stock is down ~35% this year but still up almost 250% since ipo.
Discord is privately owned still but you bring up another key point: the players you’re up against are so powerful, with so much wealth and the most comprehensive legal representation, that even if you manage to have some success they will either buy you or destroy you. Meta has a presence on the fediverse, even
The numbers are staggering. A game is incomparable. Facebook has over 3 billion users and instagram has another 2.5. Even a game like Fortnite “only” has a bit over 600 million users, and the vast majority of games see nowhere near that
You can bootstrap an audience in the millions, maybe, with a lot of luck, but getting to meta numbers takes significant capital to sustain your advertising. More importantly even with that it will still take ages. Facebook took almost a decade to get to a billion. Reddit took 18 years
Both platforms (and twitter, etc) are obviously infested with bots but what’s interesting is that from some research it appears the percentage of user accounts that are bots are far lower than many guess. I’ve seen people guess like 50+%. Per Facebook it’s more like 4-5%, and while Reddit doesn’t disclose based on content removal the numbers are similar (possibly slightly lower). This is definitely underreported though as it’s in their best interest to inflate user counts. Independent research pegs it closer to 20%. But the really interesting part is what validates the people guessing 50+%, which is user activity. Neither network comments on this but independent research pegs bots as responsible for like 50-70% of user activity.
So if you can get a network going with power users you can make it feel much more alive with possibly only 30% of the user base. But that’s where the staggering numbers come in. For Facebook that’s still 900 million people, almost 3x the entire population of america
It’s one of the big issues that capitalists continually overlook. In most states starting an LLC is nothing. My state it’s like $800 and a 1 page form plus getting a tax id (free and another 1 page form). There’s tons of shitty contractors that will start an LLC, do garbage work and get trashed online, then just fold it and start a new one every 6-12 months. Then if you need warranty work or whatever it’s like “oh sorry, company went under”. But the illusion of the small business being viable means this loophole will never be patched
You can and should check licenses and not hire unlicensed workers, but even that is almost impossible now as many contractors are licensed but never do any real work, they just come out, assess your issue, and then hire subcontractors for a couple hundred bucks per day. Your $30,000 roof replacement is like $1-2k in wages to workers, 8-10k in materials, and $20k to line the pockets of the fat shit “running the show” so he can keep up on the lease payments for his 4 million dollar house and 110k ford f150 that’s never seen a day of work
Optimization will actually get much worse because software will be designed to run “in the cloud” on servers that have much more resources than the average budget pc or smartphone that 90% of users use for computing. You will own nothing etc etc
It ended 8/29
No more Lego pick a brick! Way more money for temu bullshit, if they even still ship here! Etc
This is where American consumerism will really start to feel the squeeze. The prices of all that stuff had gone up because of tariffs related to manufacturing costs but now direct tariffs on shipments will either block it or cost consumers.
Running your own email server is also a good way to get a ton of headaches from your isp