Reddit, a collection of forums (known as “subreddits”) with approximately 76 million daily active users, made a remarkable entrance into the stock market on Thursday. The company’s shares skyrocketed nearly 50% above the initial public offering price, closing at $50.44. But why is the site so valuable? Perhaps because it’s more than just a social platform.
Over the years, Reddit has evolved into an interactive, constantly updating Wikipedia-meets-ConsumerReports-meets-Yelp, an incredible repository of information. For brands, this means it could be an important source of insight into trends. For users, it’s already become an alternative search engine to Google.
Complaints about Google’s unreliability became more common around the start of the pandemic and haven’t stopped since. In 2020, media outlets began reporting that people would append “Reddit” to their Google searches to favour results from the site. It wasn’t only that Google was serving poor results, littered with junk. It was also a reaction to pandemic censorship. If you couldn’t trust the CDC or WHO’s answer, perhaps you could trust the collective wisdom of Reddit; even though there were some restrictions on “misinformation”, they were a lot looser than most platforms’. As there was a widespread sense that both the press and institutions were misleading people, word-of-mouth and community consensus became more valuable.
Dwindling trust in the media aside, some questions have always been better suited to community outsourcing. Take Yelp, for example. When used in a big city, it’s more reliable than a professional review. By reading through multiple perspectives, you can develop a more complete sense of whether a restaurant, doctor or retailer is worth visiting. Reddit works on the same logic: both sites have such large user bases that there are few topics, experiences, or products about which there haven’t been multiple conversations.
Reddit’s reliability isn’t only due to the number of people who use it. Its pseudonymous nature fosters honesty, allowing users to participate more openly than they might under their own name. This makes it a perfect place to seek support from others, and the site has become a popular online destination for people who want to wean themselves off drugs and alcohol, seek accountability for goals such as losing weight, and, famously, support for quitting masturbation habits.
Rival platforms fall short in a number of ways. Quora has been overrun with low-quality answers and lacks cohesive communities: people tend to drop in occasionally, usually to self-promote. X, on the other hand, suffers from volume, and is more conversational and not organised by topic or question. If Reddit is a forum, X is a chatroom.
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SubscribeI like Reddit for precisely the reason provided by the author: you can find a variety of views on just about any topic. I tend to ask practical questions (e.g., side effects of medical treatments that doctors don’t always explain) rather than try to debate cultural/ideological issues.
It will be interesting to see if publicly-traded Reddit will be able to resist the inevitable pressure to restrict opinions on the conservative side of the political spectrum.
Not a word about r/wallstreetbets and the whole GameStop / meme stock phenomenon, absolute best example of the power of the platform
Have to admit, I know nothing about Reddit.
I’m not a big fan, but I go there for advice on practical matters. It’s best to avoid cultural war issues there, however.
Politically, Reddit lists very much to port! It is largely populated by Democrats that have yet to be mugged.
Reddit runs Tucker interviews the day after.
I’ve always found reddit messy and confusing but maybe I’ll try a bit harder. When it comes to balancing the needs of its users and shareholders though, I think we can safely predict creeping enshittification.
In my view, it depends on what exactly you are looking for. As others have already said in this comments session, it is a good source of practical information. Maybe you just have not found yet a sub that would be of (practical) interest to you? If such a sub exists, that is 🙂
At times, I also have a casual look at more politically-oriented subs, but they do not seem very interesting. For this, Twitter is a much better choice – at least for me.
I use Reddit frequently and enjoy its communities. Overall it’s been a good experience but as a gender critical woman I have been repeatedly silenced by moderators for posting basic facts about human biology.
Reddit is great for non-political interests – but is heavily moderated by progressives on political issues. Banning r/TheDonald backfired because it ported itself to a .win site – now called Patriots.win where it is flourishing.
I agree completely with your first sentence. I live in Virginia, and have been banned from starting threads in r/virginia. This is simply because I would post pro-Republican articles–about happenings in our state government–that ran counter to the anti-Republican press the moderators put up.
A number of forums that deal with women’s diseases, like endometriosis or poly cystic ovary syndrome, have been overrun by trans women who don’t have the diseases and won’t ever get them. But they are quick to offer advice. Some moderators are so strict that the women aren’t allowed to use the word woman. In fact many women, like me, are kicked out of the forum or just give up. And let’s not forget the forums that are pornographic. Reddit is such a cesspool that I can’t understand why it was even considered for an IPO.
Overrun by far-left hordes of howler monkeys on anything remotely controversial or political, quite useful in other areas.
I remember being on long layover in Amsterdam Schiphol in summer of 2022 (a chaotic time for many airports but AMS was in meltdown) and thinking of getting the train into town to go for a walk, as I’ve done before.
The subReddits for KLM and AMS had live updates and photos of the queues and chaos outside and convinced me that it wasn’t worth the hassle and I would need a lot more time to just get back in through security. Such immediate information wasn’t available anywhere else.
Admittedly I rarely go to Reddit but think I will take some time now to explore it.
But I WHOLE HEARTEDLY agree that Google has gone to crap. I’m doing all I can to get away from their products. Not easy but..
I switched to Firefox for my browser and deleted Chrome.
I set my browser default search engine to Duck Duck Go.
Gonna swap my Android for an iPhone unless Apple gets stupid and puts Gemini on their phones. When that goes, so will go my Gmail account.
The only reliable, product that Google seems to produce is Google Ads.
I am ready to start paying for a decent search engine. I pay $10 a month for Spotify, I think I can pony up $10 bucks for a good, unbiased, ad free, search engine.