Reddit Exploited a Hedge Fund and Made GameStop Stock Prices Explode
Shares of GameStop (GME) opened at more than $350 today after starting the month at around $17 a share. This has led a generation of half-dead old white guys to spit out their coffees onto their Wall Street Journals, demanding to know: what happened? Via New York Times, The Motley Fool, and CNBC, a Reddit board has used an avalanche of small trades to exploit an enormous bet made by the hedge fund Melvin Capital, with the little investors making a killing while the billionaires took a bath. The story begins with a financial practice called “shorting,” which happens when an investor is convinced that a stock price will go down. They borrow shares from a lender with an agreement to give the stock back at a later date. In the meantime, the investor hopes to make some money. First, t...
Reddit bans Donald Trump forum for inciting violence
Reddit has banned r/donaldtrump for encouraging and glorifying violence after Wednesday’s mob attack on the US Capitol. Axios reporter Sara Fischer first reported the news, noting that the unofficial pro-Trump forum had been given multiple warnings. A Reddit splash page says the subreddit was “banned due to a violation of Reddit’s rules against inciting violence.” “Reddit’s site-wide policies prohibit content that promotes hate, or encourages, glorifies, incites, or calls for violence against groups of people or individuals. In accordance with this, we have been proactively reaching out to moderators to remind them of our policies and to offer support or resources as needed,” a Reddit spokesperson tells The Verge. “We have also taken action to ban the community r/donaldtrump given repeated...
Reddit Acquires TikTok Competitor Dubsmash
“Both Reddit and Dubsmash share a deep-rooted respect for how communities come together,” said Reddit CEO Steve Huffman. “Dubsmash elevates underrepresented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions. It’s clear that our missions closely align and that our community-focused platforms can coexist and grow as we learn from each other.” While Dubsmash launched as a creation tool for lip-synching videos in 2015, its founders retooled the offering two years later to add social media elements. It has since emerged as a strong competitor in the growing social video app market, which is dominated by TikTok (with 100 million monthly active U.S. users and 2 billion global downloads) but also include...
Reddit Aquires Video Platform Dubsmash
Image sourced from Reddit Reddit is officially set to acquire TikTok rival – Dubsmash. The social news giant says that this deal will bring to key strengths to its platform. First, Dubsmash’s mission is unique among social platforms and is aligned with Reddit’s own mission of bringing community and belonging to everyone in the world. Just as Reddit is a place for content users won’t see anywhere else on the Internet, Dubsmash provides a welcoming platform for creators and users who are under-represented in social media. Second, Reddit says it will integrate Dubsmash’s innovative video creation tools into its own platform, which will empower its creators to express themselves in original and authentic ways. /* custom css */ .tdi_3_f92.td-a-rec-img{ text-align: left; }.tdi_3_f92.td-a-rec-img...
5 Takeaways from Zedd’s Candid Reddit AMA
Zedd said he’s spoken to Porter Robinson about collaborating on music, among other mouthwatering revelations. This week, Zedd was a metaphorical open book, participating in his first-ever AMA on /r/Music. The hit-making producer dropped insightful bits of knowledge on career advice, music production, and so much more. Here are five key takeaways we gleaned from the discussion. ZEDD AND PORTER ROBINSON RECENTLY SPOKE ABOUT WORKING ON MUSIC TOGETHER This is not a drill. Zedd latched onto this point not once, but twice. Two fans expressed wanting to hear some form of collaboration involving the star producers, and Zedd seems eager to make it a reality. “We recently talked about getting together and make some music together. Hoping it’ll happen,” Zedd responded. E...
Zedd Announces First-Ever Reddit AMA Today
Why they aren’t calling it a “Zeddit AMA” is a mystery, but that’s neither here nor there. If you’ve ever wanted to ask Zedd anything, now’s your chance. The Grammy Award-winning electronic music superstar is doing his first-ever Reddit AMA today, November 18th. For those unfamiliar with the expansive and often twisted world of Reddit, many artists take to the wildly popular discussion site to engage in Q&A-style interactive interviews and answer questions by fans directly. Reddit AMAs often get very in-depth and raw—considering the answers come directly from the artist—so this one is worth checking out. Zedd has a lot cooking at the moment, including a new remix contest and a partnership with Microsoft for its new Xbox console la...
r/EDM Among Many Popular Subreddits Hacked with Election Propaganda
r/space, r/beer, r/podcasts, and many others were targeted. Many major Reddit moderator accounts were targets of a coordinated attack this morning, August 7th, 2020. Popular electronic music subreddit r/EDM was one to have been compromised along with r/beer, r/podcasts, and many others. According to a report by Safekeep Cybersecurity, hackers left messages on many of the subreddits, like the one below, as seen in r/bostonceltics. They also re-skinned some of the pages with election propaganda, like r/space, which you can see via the screenshot below. SubredditDrama compiled a full list of the targeted subreddits. Moderators also offered a comprehensive guide on how to restore subs that were compromised. r/3amjokes r/ANGEL r/Animemes r/awwducational r/bertstrips r/blackmirror r/bl...
Daft Punk Tops the Official r/electronicmusic “Top 100 Albums of the 2010s” List
Daft Punk’s “Random Access Memories” is a solid and irrefutable pick atop the list. Over the last few weeks, the r/electronicmusic subreddit has been compiling the top 100 albums of the 2010s, calling on its dedicated users to flesh out the list. Due to its fervent and steadfast fanbase, which is rooted in a passionate Reddit community, the list holds a ton of weight in the electronic music sphere. After weeks of deliberations, the r/electronicmusic moderators have unveiled the final rankings. Topping the list is Daft Punk‘s seminal Random Access Memories, which represents a solid, irrefutable pick. Following in the second spot is Porter Robinson‘s Worlds, which set the EDM realm ablaze back in August 2014. Rounding out the top 5 are Flume‘...
Reddit Community Ranks Top 100 Electronic Albums of the Decade
A dance music subreddit is reigniting the discussion around the genre’s top albums, calling on its members to rank the “Top 100 Electronic Albums” of the 2010s. r/electronicmusic has been working over the last few months to organize the masses to narrow down the Top 100 rankings. They broke the process up into three phases, which included the nomination stage, the Top 100 Selection stage, and finally the Top 100 Ranking. At the time of this publication, they still have the final top five to place, but so far the results have revealed an order that would gain mass endorsement even outside of the Reddit community. Making the Top 100 are some standouts, including Odesza‘s A Moment Apart, Gorillaz‘s Plastic Beach, Gessafflestein‘s Aleph, and Porter Robinson&...
Reddit Bans Popular Donald Trump Subreddit for Hate Speech
The popular subreddit r/The_Donald, home to many Donald Trump supporters and one of the nastiest, most unwelcoming places on the Internet for years, is officially no more. The virtual hive for MAGA fanatics has been banned by the higher-ups at Reddit due to newly defined hates speech guidelines. Reddit’s updated anti-hate speech measures led to the shut down of nearly 2,000 other subreddits, including r/darkhumorandmemes, r/gendercritical, and r/wojack. All had allegedly been in violation of the site’s updated content policy page, which declares that subreddits and users who “incite violence or that promote hate based on identity or vulnerability will be banned.” The new policies are a huge about-face for a website that long resisted calls to police even its most egregious content und...
