Reddit Stock PLUMMETS! Bosses SELL OFF! Facial ID Incoming?!

0:00Well, it looks like reddit stock is collapsing today and there's some really weird stuff going on with reddit. We have a lot of their C-suite selling off a whole bunch of shares and we have announcements that they're talking about, you know, combating the bots and they're going to do like facial ID and all that, which is not going well. No, because they want to, they want to talk shit and they don't want to get hit. So they don't, they want to be able to say what they want anonymously because reddits like a cesspool. Oh, reddit is a cesspool. I seriously, I would probably party harder if reddit collapsed than I did when Twitter got bought by you long mask. Now, like, I'd be like reddit is the biggest dumpster fire on the internet, but a lot of people that have been using reddit as an attack site for the last, you know, five, ten years now are freaking out because they're like, well, I'm going to leave a plot for

1:00them because I can't, I can't have my identity as like, as you got, like, you know, a, a, a, a, a doc, you dox people, you dox people, but you can't have your identity at okay. I want privacy for myself, but everybody else, I'm going to dox and harass them, you know. So we're going to talk about this, try to figure out what's going on, but it is very, very weird that we have a bunch of their seasweet selling off. That tells me that is weird. That's concerning. Things are not looking good at reddit and, you know, reddit, the only thing that really prop them up, I think of the last year or so was that they had, you know, deals with Google and stuff to train the AI. I don't think, I don't think they need them anymore. So what we'll see. So before you into it, any further, please subscribe for more pop culture news views and brands. Guys, you'll get woohoo if you do. This is Neon. I am here with Geeky Sparkles. Hello. And we're going to take a big steaming dump on reddit because God, I love the, the, the

2:00take a big steaming dump on reddit. I do. It's just, it's just, it relieves me of the whole anxiety, the image of Elon Musk. I don't know. He's either a cyborg or a chippendale or yes, or it's like a new he-man character, even on. So, yeah, that's actually like lost with my favorite anyway, um, all right. So let's, let's look at the stock here. Then we'll talk about what could be contributing to this. So this is come from market beat and I kind of want to, you said, yeah, reddit stock just like dropped off a freaking cliff and we thought it was just the, if first just that they were going to combat bots and do facial recognition, the users aren't liking that, of course. But there's something else going on. So they said shares of reddit were down 8.2% on Thursday following insider selling activity. Yeah, that's a very good look when all your sees we people start dumping their stock. And then you're like, why? Yeah, there's something going on specifically, I don't have reddit stock, I went to look and I don't. So I'm like, oh, how do you specifically CTO Christopher Brian slow sold 9500 shares of

3:04the firm stock and transaction that occurred on Monday, March 23rd. They were sold in average of 141, 28 for a total transaction of like $1.3 million, falling that transaction, the chief technology officer owned 38,000 shares of the company's stock valued at about 5.4 million. This trade represents a 19.83% decrease in their ownership of the stock. The sales disclosed in a legal filing with the securities and exchange commission, which is available through the SEC website also, COO Jennifer Wong sold 5600 shares of this. And we've got three C sweet people selling off their reddit stock. What the hell is going on? Part of it. Yeah. You know, they're not selling. Yeah, that's right. Panicking and dropping their stock because they're like, because all this was happening and then they announced that they're going to do recognition, but you know, people aren't going to like, I mean, reddit, they all want to be anonymous so they could, you know, keep talking shit all the time. Yeah, so they had a by rating initiative, $300 target price of shares of reddit.

4:09Well, it's not going to happen. That's weird. There's something going on. I think they know that the house of cards is going to collapse pretty damn soon and they're trying to get out. Yeah. See, that's it. Because it was just like one side of them off of one thing and they have it, but they're all doing it. And then they announced, but today, yeah, it's just a lot of the, you know, there's two, there's too many things to be coincidence. Yeah. So in relayed news, COO, Jennifer Wong sold 33,000 shares of reddit on March 18th. Wow. So the sea. Yeah. Okay. So what? They did theirs first. And then she sold some more. Oh, okay. So yeah, she sold. Okay. So she sold 33,000 shares on March 18th and then she sold another 5600 shares after that. Something's wrong. Something is not right here. Something is very wrong. When you have all your, your, your sea suite sell out their stock, I would, I would recommend. I would get my hell out.

5:10Yeah. Because I mean, that's weird. They thought they're going to make money on it. They would be buying up stock. They wouldn't be selling their stock. But beyond that, it's like, it's weird that they don't, I mean, it's not weird, but they also they're stocking in this announcement comes that they're going to start doing some people aren't going to like. Yeah. So right at CEO Steve Huffman said that the platform is considering introducing ID verification and weed out the bots. So I'm wondering if it's going to come out, if it's going to come out like it did with Twitter when Elon Musk bought it, that Reddit is mostly fake and that there's no value here, right? Because I've seen subreddit, like very obvious bot run or whatever subreddits is basically a bunch of activists took over the platform and then they're patting it, they chased off the normal people. So now they're patting it with a bunch of bots. That's what I think is going on. You can find some groups on there like I do, I love Calcutta critters and like something you can do. She does. She does. I have a problem.

6:10They're so cute. I can't even. And you can find groups on there that are relatively positive and they're real people. But then you have the big groups like Saladier than Crate, like the bad one, the rainbow colors and all that. And all these people, and they're constantly, it seems like they're either bots, it seems fake, they're constantly like super, super political driving everybody off. And it was always funny to me that that was what Google is going to train the internet on. Yeah. Why would you train the internet on literally one of the worst sites on the internet? Like the full of, I mean, no, actually read it and that's what I was trying to explain to our son because you know, he's all about, you know, he goes on Reddit, but he doesn't actually interact. I'm like, I was on Reddit the very first year it opened because I was working in tech and I wanted answers to questions. And hell, I still have my gold membership, which I forgot to turn off. I've been paying like $3 a month or less, um, teen years, um, but it used to just basically be tech bros answering questions and people would post interesting things that they found on the internet. And we didn't have all these damn activists and you had the fun stuff like am I an asshole

7:10with all that? Yeah. Yeah. It was, it was pretty cool. For the AMAs, you know, it wasn't like that. And that was what it was used for. And then it just became this like a shit hole. Yes. It's like, it's like blue sky, you know, it's proto blue sky. Yeah. And there's a whole reason why this happened, um, what happened was we had a lot of, uh, the people came in from Occupy Wall Street because, you know, there was an anti Wall Street sentiment in right, being, being more libertarian. It was a more libertarian site and then you were probably there anyway. Yeah. It was no reason I was there. Yeah. Admittedly, I am definitely a libertarian. But um, it was, it was more libertarian leaning and then we started having all these activists come in and then they started stinking it up with their socialist bullshit. And then they chased off a lot of libertarians, they like talk shit, they make up shit about us like all times. Oh God. Yeah. They make up shit out everybody. Shit. And they keep, and they're running it like it's fact and it's like it's, you know, whatever, you know, I, they can't, can't go down fast enough as far as a concern.

8:12So have fun. So yeah, this is coming from Engage. This was a couple days ago. I said, Reddit is weighing identity verification methods to combat its bot problem, the platform CEO mentioned it. There's a bot problem. Yeah. Facial ID and touch ID is ways to verify if a human is using Reddit and a lot of people like. No, I don't want to put their face on. You're going to have to put your face to the comments you've made. Yeah. They're not going to want to do that. So according to Steve Huffman, the social media platform is exploring different ways to verify if a user's human or not using, uh, or not using a bot when asked on a podcast how to confirm it's a human using Reddit, Huffman responded with several verification methods with varying degrees of heavy handedness. Most lightweight way is something like face ID or touch ID that's that that's lightweight, facial ID. That's, uh, uh, um, they actually require a human presence besides, they're talking about past keys, uh, using biometric data. That's creepy. Yeah. Nobody's going to do that on Reddit. Right? I think it's. What, what, what does it all know?

9:14Because look, if you get somebody working at Reddit that aligns with these, these ridiculous redditors and they want to leak your info, leak your face, least, leak your, uh, you know, whatever biometric data, leak your bank account and whatever, they would totally do it. I think the whole platform is infected with activists. Well, what gets me is like, um, for years, people have done things that are really shitty. And if your name's attached to it, they wouldn't have done that. Or, um, Reddit has, you know, come under fire for protecting people who like leak things or did things and stuff like that. And that, but I don't think Reddit's going to stand by anymore. Now they're going to have a person to prove that it was a person who did it. Here you go. Here we turn you over, you know, this and they linked to this and we covered this before that they said there actually was an experiment that they, they flooded Reddit with bots. Oh, yes. Yes. Yeah, the experiment on Reddit users with AI generated comments to see what happened. I, my, my hunch is, it's going to come out very soon that Reddit is like 80% bots

10:16and that the whole, like every other social media, yeah, that's all, it's all dead internet. And they've been scamming investors and they've been scamming advertisers and the whole fucking thing is going to collapse. That's what I think. Well, I don't know what's going to happen, but something's going to happen because the whole sea suite doesn't drop their stocks within days of each other for no reason. That is, that is very weird and I, I just happened to see that because we were talking about like, you know, we're like, hey, why is the stock dropping and we thought I had something to do with this, but then it's like, shit, they've been selling off all months. And here's the thing. Here's the thing. It's like if one person sold off some stock because they were going to make a big purchase and they needed to sell some stock to pay for or something or they wanted to switch something else. Okay, you know, yeah, you're allowed to sell your stock. So I, I'd be okay, if one person did it, it wouldn't think any of it. But the one, the one chick that started, she went back and did it twice and then people were dropping like, and we're not, and we're not talking about, I just sold a little bit of my stock off to like, you know, get some cash. We're talking like significant amounts. And of course, when you drop that much stock and it's millions of dollars in amounts,

11:17that's going to impact the stock price. Yeah. Um, absolutely. Well, here, they're, they're bringing it up here on tech crunch. They said, uh, they're talking about the changes to the platform. They're going to do some kind of verification, right? So the changes are meant to address the growing problem of bots engaging on social media platforms and the web more broadly where they're often used to influence politics, spread misinformation, whether it is notorious for that, inflate popularity also read it secretly market products and generate fake ad clicks, according to the cloud flare, the traffic from bots will exceed human traffic by 2027 when you include bots like web crawlers and AI agents. So we're talking the dead internet is here. There are more bots on the internet now than there are humans and I think they're driving the humans away. That's why we're, we're seeing a push to go back to analog devices and offline devices because it's just, it's the internet is so shitty right now. They said reddit in particular has become a popular destination for bots that attempt to manipulate narratives, astro turf to shield for companies or their products, repost

12:20links, post spam drive traffic conduct research and more plus because reddits content is used for AI training, thanks to lucrative deals with AI model providers, there's a suspicion that bots are even posting questions on the site to generate more training data, particularly in areas where AI is lacking information. I have noticed that on reddit and cora that there are questions being asked that no, no human would think to ask like nobody is legitimately looking for this particular SEO term, but the bot would, yeah, you know, it's, it's crazy. So yeah, the co founder, the co founder, Alexis O'Hanian has also addressed a related problem knows the dead internet theory, a conjecture that bots, the bots outnumber humans online, the vast majority of content, interactions, web activity is automated or AI generated. Yes, now they're looking at the human verification, I think what's going to happen is they're going to roll this human verification out and they're going to realize how fuck they actually

13:22are. I think they already know how fuck they actually are. We do this and it turns out that the platforms may be a tenth of what we thought it was. Here's the thing though, they wouldn't be doing that unless there was a reason, the verification, there has to be some reason we're not privy to or something in the back end, like someone's that they legal or something, there's got to be some reason because there's no way they don't know that there's that you know that it's mostly bots. Everybody knew Twitter wasn't mostly bots, everybody knew that, and everybody knows where it is. So there's no way they don't know, but they would be more, they'd be content to leave it go as is because they're going to make money and they're going to be able to keep the stock up and all that. The fact that they're not letting it go as is and all of a sudden the C-suite people are dropping their stock before they announce they aren't going to let it go as is, there's something going on that's a catalyst for all of this. They know some shoe is going to drop here pretty damn soon, that is just, that's an opinion but you don't have multiple people from the C-suite ditch their stock because they know the stock is not going to go up any more, they know it's not going up, because you

14:25could hold on to it. If you knew it was going to hit $300, $400 a share, you'd hold on to it, right? Right. But you're like, that's it. That's like, you know, I sold off my Disney stock when it hit like 200 a share or whatever because I'm like, Disney is never going to be this high again, anytime soon. But they've mocked you for it. Yeah, they did. They read it, people from Reddit mocked me for it, yes. It was funny. This is interesting though, the Ready for Conspiracy theory, hear me out. They pushed AI so much we end up with the slop we have and force us to verify our decent private information so they can control us all more, which is a plan they tried to achieve several times to harm our privacy, our writing and code law, it will only get worse. So basically, they've made it, they deliberately made it full of AI slop so that you have to prove you're human so they can have your information as well, you're trying to. That, and then they'll mark it to you and then they'll know what, what you're posting where. Yeah, this is all. I, I am telling you, and I've talked about this before and people thought it was crazy. I'm not crazy. I think we're going to wind up with a, another internet at some point in time. I think we're going to have a totally different internet that's going to feel like the original internet and we're not going to have all this corporate government bullshit.

15:26Well, there you go, go get some, go get some investors and some people's and partners and go make it. No, but if we do that, you're going to drag the corporations into, you know what I'm saying? Because as soon as you go get venture capital, they want to return on that. So you're going to have to be like, how you going to make money on this? Well, we're going to have to sell ads. Okay. Well, then the whole thing repeats. Well, you have to sell ads anyway because if you're trying to replace the fact that people are losing their incomes with their blogs and everything else, you're losing your income, you have to have a way to monetize because they took, Google took it away. You have another internet, you know, people can go advertising the other internet and you, do people are going to need that back because, you know, but yeah, it'll be Google over again. It'll advertise on that one too. I don't know. The whole thing's a piece of shit. I mean, write it something, I mean, there's something's going to happen. It's going to be very interesting to watch. Yeah. It's going down because there's definitely the rats don't jump off the ship unless something, something bad's coming or happening. Yeah. There's definitely something going on. Oh, no, it's interesting. I forgot. So dig. I don't know if you guys, you want to talk about old internet or 2000's internet. Dig was a bookmarking site for the longest time, right?

16:29So dig came back and it tried to be Reddit and it couldn't make a go of it. So it already is collapsed. I didn't even know what to try. Why would it kind of come back if you read it? I just because people think Reddit, people think Reddit is is it. And like if Reddit is fake, then that model doesn't work because I can't believe they're that media is mostly fake at this point. I don't know pretty much any social media platform is like this. Well, something's going on with X two and I just posted about it. Ironically on X, there's some weird shit going on over there that all of a sudden they're first they were going to crack down on foreign accounts on like, you know, accounts from India or Nigeria and they weren't going to, you know, pay them. And then all of a sudden they walk that back. We've got people that are suspected as being in other countries and now all of a sudden they're in America. So they continue to pay them. We've got some of the big accounts like Libs of TikTok getting hit with a massive bill. They're like, they canceled their account, but they're still there's some weird stuff going on. They're moving features unannounced. They're moving features from one tier to another tier to make you pay more.

17:32I think it's going to come out that all of social media is a fucking sham. It doesn't pay. It doesn't pay. And now we're starting to see, I think we're also at the very beginning of the bubble bursting in AI because I did another video today talking about open AI and they're screwed. They're like screwed. The reason they shut soar down as fast as they shut down was it was using too much compute power. They've already gotten rid of so many people over AI. We said this. I know we said this like a couple years ago where this all things started. We said that they're spending billions of dollars on this and they're getting nowhere. And it's going to take years for it to be even to a place where they can use it for what they want to use it for. And then it was cheaper to keep using people in the long run. And we said this then. And that was years ago. And then not to mention the environmental impact and all that stuff on this. And now they're starting to learn, but they suck billions of dollars into it. Ruined lots of people's lives by laying them off or getting rid of them to be replaced

18:34with AI that was never sustainable to fucking begin with. And then even at the end of the day, let's say the AI is sustainable and you layer everybody off. Who the fuck's going to buy your products? No one has any damn money. So this was always going to happen. But they're so fucking stupid and the rich trying to get richer that they're just, I mean, a tool yes, but you can't use it to replace people and use it the way you guys want to use it. It's ridiculous. And then the fact that they were like, and there's no, there's no safeguards on these things and they're trying to help people kill themselves, you know, AI psychosis. It's just for humanity in general. It's a detriment. It's a tool. It is not a replacement. So we're going to wrap this up. Yes. Yeah, we'll keep it right there. There's definitely something going on here. So yeah, it's very interesting about right there's something big going on because the whole sea suite doesn't sell off their stocks like that for no damn good reason. Like I said, the rats start jumping off the ship. You know, you get your ass off of it too. All right. So please subscribe for more pop culture news views and rants. We'll talk later. Bye.