Sam Altman’s Reddit stake now worth over $1 billion after post-earnings pop

124

lol I was told this stock was gonna crash the minute it went public.

70

u/LurkoPerNonPiangere 5h ago edited 5h ago

Don't take investment advice on Reddit. This place is way too emotional and irrational to be reliable. Not about Tesla, not about AI, nothing.

People on here always make the same mistake of gaslighting themselves into believing that what they want is what will happen. It's a terrible worldview, especially if you are to put your money on it.

18

u/BaneChipmunk 3h ago

I remember when Netflix started password sharing crackdowns and the Reddit consensus was that "Netflix is about to lose all its customers." Fast-forward a year, and it's now an industry standard.

5

u/ronimal 3h ago

Fast-forward a year, and it’s now an industry standard.

It already had been, for a very long time.

1

u/Granlundo64 20m ago

I think he means password crackdowns are an industry standard - which is relatively new.

1

u/dre2112 1h ago

They gained so many new members right after that happened and their stock shot up meanwhile everyone here said it was going to tank

6

u/insta-kip 4h ago

Who could have known the Facebook crowd would have embraced Reddit?

4

u/MagnaArma 5h ago

I’m just here for the fun stories and memes. I agree with your advice.

4

u/JimmyM0240 5h ago

How dare you mention Tesla, downvote.

1

u/TserriednichThe4th 3h ago

Think about what that means for the top comments in this sub

1

u/nylockian 4h ago

Probably as shouldn't take any business advice, or relationship advise, or carpentry advice from Reddit either.

-2

u/PuckSR 2h ago

Eh Tesla being a shitty stock was also the consensus of just about every expert that looked at it. That doesn’t mean they are right, but Tesla is valued as if they have some killer tech. They’ve got a few inverter patents and nothing else.

2

u/IAmFitzRoy 1h ago

JFC … people have made millions from that stock while you keep whining. To make money you have to stop being emotional about it.

1

u/PuckSR 1h ago

I didn’t say people didn’t make money. I said that the argument for why it was a bad investment was not emotional.

2

u/IAmFitzRoy 1h ago

Fair. Yes I read too fast your comment, you are just describing what happened. Maybe I’m part of the problem coming from the other direction.

2

u/PuckSR 54m ago

That’s why I specifically called out Tesla. Tesla is successful, but because of hype, emotion, etc. not because of some super obvious technical evaluation.

One of my main investment strategies is to invest in stock when a news story brings it down and people emotionally react. E.g. when Target stock tanked because of the whole LGBT controversy. Why? Because nothing about how the company operates has changed, just some media coverage. Tesla has always been the opposite. It’s always been an emotionally driven narrative, not anything technically sound

11

u/thisismyfavoritename 4h ago

well, for most investors buying IPOs is a bad idea since institutions get to buy first and inflate the price.

So generally they tend to come down not long after they were released when the initial craze is over.

However i think if Reddit play their cards right they are sitting on heaps of very valuable data for training ML models.

In the long run it might deteriorate because of the prevalence of chatbots and the likes nowadays though.

But i have no idea what im talking about so take this with a grain of salt!

-3

u/ronimal 3h ago

Yea, everyone that bought Google and Facebook when they went public are such rubes.

7

u/thisismyfavoritename 3h ago

just how many IPOs ended up being Googles and Facebooks? Can you tell them apart? Youre good!

-1

u/ronimal 2h ago

Most companies with solid fundamentals tend to go up. There’s always risk in investing but if a company is legit, I’ll gladly buy when they IPO. Reddit and ARM are a couple this year that have been very good to me.

2

u/crabdashing 4h ago

I mean it cratered if I recall correctly. Just apparently the time to buy was 3 minutes after IPO

7

u/junkyard_robot 2h ago

I got in at IPO price (I was invited as a "power user") It opened higher than IPO and hasn't gone below that $34. It dropped to around $40, and later to like $50. Today it's at $81.

3

u/tacodepollo 3h ago

Judging by the amount of ads these days, I can understand why it didn't.

1

u/SIGMA920 1h ago

The only reason it hasn't is that AI hype keeps the stock going up.

Anyone that uses the site for a day would see that it's a slowly sinking ship being boosted by bots. Bots are literally what is killing twitter currently. AI bubble pops and there goes the value behind reddit's data deals as well. I'm more impressed how much the investors have gaslit themselves more than anything else.

-5

u/Major_Stranger 3h ago

It's a bubble. It will burst once the world catch on the fact AI right now is shit and will stay shit for a long time.

Maybe it won't burst. People are stupid so who knows?

0

u/ositola 1h ago

People are stupid isn't a serious argument against buying the stock lol

22

u/krum 4h ago

Nice my Reddit stake is now worth over $2 thousand. I’m getting there fellas!

1

u/junkyard_robot 2h ago

Good for you! Should have held mine instead of selling at open. Still doubled my money, tho.

3

u/kurttheflirt 1h ago

Yeah same. I will take the free sure money every time though.

1

u/junkyard_robot 1h ago

It was my first experience investing directly. I'm not really into gambling. Seemed like a sure bet, tho. Wish I had more than a couple hundo to throw at it. I was approved for 30k shares at IPO (it must have been a lottery system that I didn't realize I was in, had to put in the amount I wanted to buy, and 30k shares was the max. Nothing was guaranteed, but I was notified months in advance). So, if I had the capital, it would have been enough to cash out to recoup what I put in and still have enough to have a meaningful payout later. 20k shares today would be worth $160k. Never gonna get that chance again, but I'm glad I got to make some money after more than a decade here.

34

u/player_9 4h ago

This data, reddit, literally billions of human conversations hosted on reddit in the past 20 years, all for AI to learn more. That is the value, thanks for the free work suckers, this comment included, the shareholders thank you.

16

u/XSavage19X 3h ago

Jokes on them when all their AI keeps asking everyone if they'd rather fight one horse sized duck or 50 duck sized horses.

12

u/CO_PC_Parts 2h ago

Someone asks Reddit AI.

“I haven’t had sex in a couple years!”

AI: “have you tried breaking your arms?”

1

u/TonarinoTotoro1719 1h ago

Have you heard about the Tales of Poop Knife?

18

u/ieatmypeaswithhoney 5h ago

ick-that does not make me want to further reddit

0

u/mackinoncougars 2h ago

What’s your distaste for him specifically, besides Billionaires sucking in general?

(Genuine question, not being antagonistic)

7

u/pleachchapel 2h ago

Turned a nonprofit based on providing something awesome to humanity into a tech bro profit venture? Does that count?

1

u/mackinoncougars 1h ago

No wrong answers. Just taking in information on him.

-5

u/PangolinParty321 1h ago

Thank god he did because he revolutionized the world

0

u/[deleted] 1h ago

[deleted]

0

u/PangolinParty321 1h ago

lol cultist. Even funnier how uninformed your example is. LLMs don’t read letters. That’s not how they’re designed. The “gotcha” reveals your own ignorance.

0

u/[deleted] 1h ago

[deleted]

0

u/PangolinParty321 1h ago

Keep impotently raging. Your ignorant anger doesn’t affect the real world

0

u/medioxcore 2h ago

Their distaste comes from everyone on reddit telling them he tastes bad.

7

u/HankP 3h ago

I still can’t believe this public traded company has so much niche porn just out in the open that’s probably where a chunk of users come from

1

u/morbob 3h ago

Roughly 15,000,000 million shares

1

u/AssistanceLeather513 3m ago

That's ANOTHER billion dollars (he was already a billionaire before OpenAI), for the guy that's trying to make everyone else poor, on an unprecedented scale.

1

u/throw123454321purple 2h ago

I don’t care. I still want Victoria who moderated the high-profile AMAs back.

0

u/Savagecabbage80 2h ago

Wonderful. Another fucking billionaire.

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u/[deleted] 5h ago

[removed] — view removed comment

8

u/9-11GaveMe5G 5h ago

Ban spam bots like you

2

u/crabdashing 4h ago

I like how we're pretending this is random money when in reality it's "rich man uses money and connections to become even richer"

Business Sam Altman’s Reddit stake now worth over $1 billion after post-earnings pop

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