

Yeah, it’s really more about two massive industries colluding to extract additional income from working Americans. Rental agencies contract with Spectrum, get a cut off the top, and the renters are stuck with a shitty internet service they don’t want. Honestly, renting has never been a great experience for the average American, but it’s been getting worse over time. Rental agencies are starting to cut staff, reduce actual beneficial services offered, force renters into paying for additional junk services they don’t want or need (what the fuck is a $50 a month “beautification fee,” anyway? Nobody ever fucking cleans this place…), and, of course, increase rent every year. And they can do this because…what the fuck else are you going to do? If you’re working class and live in a high cost of living area, you can’t just move, or buy a house. You have to rent. No other options, really. And while you’d think “well, if someone else opens an apartment complex that offers better services, you can just move there.” Sure, and spend 15 grand moving a mile and a half only to have the apartment complex you moved to suffer the same enshittification after 6 months that the first one did.
This is my thinking as well. IPOs are almost never profitable. If the stock lists at 50 a share, six months later it’ll probably be way closer to 20. And it’s not like Reddit is Facebook, either, if you want to compare it to another publicly traded social media website. Facebook, for all its faults, diversified its corporate enterprise years ago. It’s not just a social media company, but a legitimate tech conglomerate. It now handles payment processing, offer a functional storefront for small businesses, and also owns Oculus, Instagram, and a massive truckload of other shit. What does Reddit own? Well, it owns…Reddit. Its valuation is…maybe 15 billion dollars. What does it have to offer other companies? Well, it has user data. Which is not valueless, but also worth way less than it used to be since every single company you have an online account with collects and sells your data to someone else.