Haven't seen this mentioned here yet, but for any of you r-slurs actually r-slurred enough to be considering investing in the shitshow that is called Reddit considered yourself forewarned. Also, this is a great example of how much of a loser Spez and the exec leadership of Reddit are considering Reddit clone sites like The Chive, even Digg and (hopefully) rDrama and WPD can operate at a net profit with far less employees than what Reddit does. A great example is The Chive which was profitable after 2-3 years (estimated $20 million in revenues and approx 6 employees).

In contrast, after 20 years, Reddit is not only not profitable but they continue to post yearly loses in the tens to hundreds of millions of dollars a year. In fact, the article points out, that these loses translate to "....$232,432.87 a day, or nearly $9,685 an hour [in loses]."

So, Reddit finally filed for an IPO. After nearly 20 years, starting on its own, being acquired by Condé Nast Publications in 2006, spun out in 2011.

Having a long gestation as a private company getting investment dollars isn't unusual today. For a number of years now, the trend has been to see increasingly long years of waiting to seek an exit so investors can allow the company to develop. To strengthen. To build a capability of making money.

Which makes Reddit's filing — its S-1 using technical terms — so interesting is that it's taken so long to still be losing money by the truckful. That's $232,432.87 a day, or nearly $9,685 an hour.

Maybe this has something to do why Condé Nast's parent, Advance Publications, waved goodbye to Reddit so many years ago.

The company calls itself an “emerging growth company” by the definition of the JOBS Act, and will continue to be until any one of the three following conditions happens: their revenue at least equals $1.235 billion; they reach the last day of the fiscal year following the fifth anniversary of the IPO offering; they reach the date on which during a previous three-year period in which they issue more than $1 billion in non-convertible debt; or, under the Exchange Act, they're deemed a “large accelerated filer.”

There are 54 pages of risk factors, which, after reading many S-1 filings over the years, seems pretty long. One of the most notable is the sentence, “We have incurred substantial losses during our history and may never achieve profitability.”

There are companies that have said that in the past, but they were much younger. AmazonAMZN +1% has a reputation of being unprofitable for a very long time, but in the last quarter of 2001, it had its first profitable quarter. That was about seven years after the company started running out of the garage of Jeff Bezos.

After two decades, Reddit still warns that it's not making money. Losses can eventually be useful for companies when they can carry them forward and finally offset profits, but the profits do have to come. At the end of 2023, the company has $216.7 million in federal and $177.1 million of state net operating losses (NOLs) to carry. The state ones are gone in 2026 if there aren't profits to apply them to. Federal NOLs through 2017 can only be carried for 20 years to fully offset taxable income. After 2017, due to the Tax Cuts and Jobs Act, they can be carried indefinitely to offset only 80% of taxable income annually. So, the losses at this point are theoretically helpful, but practically? Who knows?

In 2023, the company's revenue was $804.0 million. Research and development, at $438.3 million, was more than half, an awfully big number for a company of this age. Total costs and expenses were $944.2 million. The net loss was $90.8 million, which at least is an improvement over 2022, with its $666.7 million in revenue and $158.6 million in losses.

Reddit favors non-standard accounting metrics like adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization). The adjusted part include “stock-based compensation expense and related taxes, other (income) expense, net, and certain other non-recurring or non-cash items impacting net income (loss) that we do not consider indicative of our ongoing business performance.” Which makes it tough to know exactly what's being included or excluded.

The adjusted EBITDA in 2023 was still -$69.3 million.

And they like free cash flow as a “liquidity measure.” Free cash flow in 2023 was -$84.8 million. In 2022, it was -$100.3 million.

On top of that, Reddit is going the dual stock class approach, where Class A is the ordinary stock with one vote per share, Class B getting 10 votes per share, and Class C, no votes. This is the type of structure designed to let a small group continue to control the company no matter what. The public argument is that they will keep doing the right thing for the company. In practice, that has meant lots of losses.

18-year-old suspect charged with murder in deadly random stabbing of beloved NYC activist: sources

The 18-year-old man suspected in the grisly random stabbing death of a beloved Brooklyn social justice activist was arrested and charged Thursday as authorities recovered a knife and the sweatshirt the perp is believed to have worn during the early-morning slaying, cops said.

The person of interest, identified as Brian Dowling, was pictured with tears running down his face as officers escorted him from the 81st Precinct Thursday afternoon.

The teen – who had handcuffs around his wrists and ankles – was still wearing the same white t-shirt and stripped shorts he had a few hours earlier, when the was arrested while cops executed a search warrant at a home on Lafayette Avenue near Malcolm X Boulevard — just down the block from where Ryan Carson, 32, was knifed to death early Monday as his girlfriend watched.

Dowling is charged with second-degree murder and criminal weapons possession, police confirmed.

Dowling did not make any statements to cops after his arrest, and has already enlisted a lawyer, sources said.

Cops were searching for clothing allegedly worn by the suspect during the caught-on-camera attack — and found both Dowling and his dark Champion sweatshirt, seen in the video of the attack, inside the apartment, the sources said.

Cops also found a knife in the home, and will be working to determine if it was the murder weapon, sources said.

The teen was escorted from the apartment into a squad car by a huddle of officers a video from CBS News showed.

More than a dozen officers descended on the property during the arrest and search, the outlet said.

“Assailant has been caught,” Carson's father, Ken Carson, wrote on Facebook at 11:30 Thursday morning.

“More details will follow,” he added in a follow-up comment.

“I'm on the road…escorting Ryan Home to Massachusetts right now. I wasn't leaving NYC without him.”

Friday, Oct. 6 would have been Carson's 32nd birthday, records indicated.

Brian Dowling charged with murder in deadly stabbing of NYC activist Ryan Carson, sources say r/nyc

The CBS article actually censored the stabbers face

Suspect Charged in Fatal Stabbing of Advocate in Brooklyn - NY Times r/brooklyn

THEY WANT HIM LOCKED UP

You'll be happy to know that he has been charged with depraved indifference murder aka murder in the 2nd degree, which is a Class A-I felony. A conviction carries an automatic life sentence.

I am happy to know that. Thank you.

Where are all the jail abolitionists now? stabbed that's where

DDR is earning his nickname lmao.

Somebody make a DDR marsey, basically but with

I heard about this from a Reddit thread from another drama post about a literal Hamas leader being behind London protests and it needed it's own thread.

His two links:

https://www.telegraph.co.uk/politics/2023/11/04/attiq-malik-met-police-adviser-from-river-to-the-sea-chant

https://www.dailymail.co.uk/news/article-12713273/Met-Police-investigating-leadership-coordinator-Scotland-Yard-said-support-Israel-hate-crime-force-sacks-hard-left-advisor-led-river-sea-chant-pro-Palestine-rally.html

Jihad Flag

For context this is the protest video with your average Londoners:

and this was the Met police response to the Jihad flag

https://twitter.com/metpoliceuk/status/1715751560167223683

^ huge drama here

UK police win most dramatic and cucked award for 2023, and every year for the last decade

https://lemmy.world/post/8746608

https://old.reddit.com/r/socialism/comments/182sl7v/fbi_labels_antifascists_and_antiracists_as?sort=controversial

A Bay Area school struggling to boost low test scores and student attendance is paying $250,000 for an organization called Woke Kindergarten to train teachers to disrupt racism and remove those barriers to learning. Its test scores fell even further. https://t.co/TumgU7EaR3

— San Francisco Chronicle (@sfchronicle) February 3, 2024

Daily Mail writeup thats a little more dramatic

Title Article Archive Link

Title Article Link

It has not been all bluster. New research from geospatial data company Alcis suggests that poppy production has already plummeted by around 80% since last year. Indeed, satellite imagery shows that in Helmand Province, the area that produces more than half of the crop, poppy production has dropped by a staggering 99%. Just 12 months ago, poppy fields were dominant. But Alcis estimates that there are now less than 1,000 hectares of poppy growing in Helmand.

Experience in the E.U. with previous periods of reduced heroin supply suggests that this can lead to changes in patterns of drug supply and use. This can include further an increase in rates of polysubstance use among heroin users. Additional risks to existing users may be posed by the substitution of heroin with more harmful synthetic opioids, including fentanyl and its derivatives and new potent benzimidazole opioids.

In other words, if heroin is no longer available, users will switch to far deadlier synthetic forms of the drug. A 2022 United Nations report came to a similar conclusion, noting that the crackdown on heroin production could lead to the “replacement of heroin or opium by other substances…such as fentanyl and its analogs.”

This undermines one of the fundamental premises behind the wars: the alleged association between the Taliban and the drug trade – a concept of a narco-terror nexus. However, this notion was fallacious. The reality was that Afghanistan was responsible for a staggering 80-90% of the world's illicit opiate supply. The primary controllers of this trade were the Afghan government and military, entities we upheld in power.

Hoh clarified that he never personally witnessed or received any reports of direct involvement by U.S. troops or officials in narcotics trafficking. Instead, he contended that there existed a “conscious and deliberate turning away from the unfolding events” during his tenure in Afghanistan.'

Opium addiction in Afghanistan is out of control, with around 9% of the adult population (and a significant number of children) addicted. Between 2005 and 2015, the number of adult drug users jumped from 900,000 to 2.4 million, according to the United Nations, which estimates that almost one in three households is directly affected by addiction. As opium is frequently injected, blood-transmitted conditions like HIV are common as well.

TL:DR

users are going to turn into users.

In order to show those evil chuds how backwards they are, Governor Pritzker signed legislation introducing an Immigrant Bill of Rights in Illinois, a move that was praised by Chicago legislators.

https://www.illinois.gov/news/press-release.23653.html

"Wait, I didn't think you'd actually send immigrants here! They're supposed to stay down there!," say those legislators as Chicago recently bans unannounced migrant drop offs.

THE WPATH FILES

Advocates of gender-affirming care say it’s evidence-based.

But now, newly released internal files from the World Professional Association for Transgender Health (WPATH) prove that the practice of transgender medicine is neither scientific nor medical.

American… pic.twitter.com/mcJ2E7TezW

— Michael Shellenberger (@shellenberger) March 4, 2024

https://twitter.com/shellenberger/status/1764799914918490287

It's also here

https://environmentalprogress.org/big-news/wpath-files

and on Shellenbergers substack

https://public.substack.com/p/the-wpath-files

Mister big brains

• He is also charged with theft and retaliating against a witness, related to alleged illicit payments he made to a school athletics coach, as well as stalking, prosecutors said

The principal

The audio of the recording is here

https://twitter.com/phil_lewis_/status/1747708846942851493

In summary

The voice refers to “ungrateful Black kids who can't test their way out of a paper bag” and questions how hard it is to get those students to meet grade-level expectations. The speaker uses names of people who appear to be staff members and says they should not have been hired, and that he should get rid of another person “one way or another.”

“And if I have to get one more complaint from one more Jew in this community, I'm going to join the other side,” the voice said.

Darien was being investigated as of December in a theft investigation that had been initiated by Eiswert. Police say Darien had authorized a $1,916 payment to the school's junior varsity basketball coach, who was also his roommate, under the pretense that he was an assistant girls soccer coach. He was not, school officials said. Eiswert determined that Darien had submitted the payment to the school payroll system, bypassing proper procedures. Darien had been notified of the investigation, police said.

A hidden social toll of pet ownership?
“26.2% of 1,403 veterinarians surveyed had suicidal thoughts within the previous 12 months.” 2.5% is the national average. https://t.co/84t4xSE19c

— J.J. McCullough (@JJ_McCullough) November 5, 2023

Article

!leafs discuss

Cracker control is needed in Amerikka to prevent this kind of thing.

His gun, yet another Brenton Tarrant copycat.

He tried to shoot up a historically black college but campus security chased him off so he went to a random dollar general and started shooting there. Because people shopping at dollar general are subverting your race and manipulating things as part of the deep state. He also apparently attended the college at some point.

https://twitter.com/TizzyEnt/status/1695852562225013161

Yes, it is racially motivated.

Her attorney's

Mfw Alec's deranged plot is realized

The number of children being put on puberty blockers has doubled since the NHS pledged to clamp down on the treatment, The Telegraph can disclose.

At least 100 children – some as young as 12 – have been put on the drugs to prevent puberty since July 2022, when health officials said the practice would be stopped outside of clinical trials after a darning review of children's gender services.

So much for free speech lmao

Cowards. These people never learn.

Original story

Burlington, Vermont, police have arrested a white man who is suspected of shooting three 20-year-old men of Palestinian descent on Saturday, police said.

The three men were in Burlington visiting the home of one of the victim's relatives for Thanksgiving, police said. They were on Prospect Street when an armed white man confronted them and, without speaking, allegedly discharged at least four rounds around 6:30 p.m.

Two of the victims were shot in the torso while the third man was shot in his lower extremities, police said. Two of the victims were in what police described as stable condition. The third victim "sustained much more serious injuries."

Two of the victims were wearing keffiyehs, scarfs that have come to symbolize Palestinian solidarity, officials said. Police said two of the victims are U.S. citizens and one is a legal resident.

https://www.cbsnews.com/news/palestinian-students-shot-burlington-vermont-hisham-awartani-kinnan-abdalhamid-tahseen-ahmed

Arrest

Someone claiming he's qanon

https://twitter.com/malcontentmentt/status/1729034555406082103

—-

His website link

https://jasonjeaton.me

https://twitter.com/malcontentmentt/status/1729042606968144086

Haven't dug into his history, going to bed just want to breaking news post

Anyone recognize the language/font he's using on FB and his website? Looks foreign

California's new $20 minimum wage rule will exempt restaurants that sell bread, handing a lucrative break on wages to the Panera chain and one of Governor Gavin Newsom’s longtime allies https://t.co/fvC7QCfTla

— Bloomberg Markets (@markets) February 28, 2024

!wagies

Biden - Nobody warned me it was wrong for my son to take millions from a corrupt Ukrainian oligarch while I was doling out aid to Ukraine to fight corruption.

Reporter - Many people tried to warn you.

Biden - My son Beau died.pic.twitter.com/hq4JeHbsko

— MAZE (@mazemoore) September 13, 2023