The Real BULL Thesis is Reddit's Political Influence
Reddit is one of the very few "independent" major media forces in the US. It influences political views especially for left-leaning voters.
Most media companies are under the control of non-media affiliated billionaires. Billionaires want to control media. Elon Musk buying up Twitter and Jeff Bezos owning Washington Post is a clear sign of it. Twitter was a fledging company with lousy revenues. But guess how much Elon paid for it? $44 billion.
If i m a billionaire, I would want to control Reddit. RIght now, Reddit is priced at like $30 billion, lower than Twitter despite having more American users. Unlike META, Reddit is cheap to own and unlike Twitter, Reddit is already profitable. All the billionaire has to do is buy Reddit, allow the right leaning population to create their own subreddits (i believe this is suppressed by current management which leans left), and push right leaning content. OR, a Democrat billoinaire buys Reddit to preserve the left and push left policies that aligns with their views. Like supporting Chuck Schumer over Ortega.
As such, Reddit should deserve a premium valuation to prevent billionaire takeovers, much like what happened to Twitter and TikTok. Youtube, FB, Insta, Rednote, these are all controlled by Big Tech or foreign entity. Only Reddit remains.