this post was submitted on 23 Jun 2023
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Well said. Boosted and upvoted... whatever those two things mean. Internet points to you, good sir!
I'll edit to add that the main thing you point out that I think most fediverse folks want to avoid is the investment that leads to the IPO bag of cash. When the incentive is profit, I think social media can only ever get worse for the average end user. Keeping these things small and non-corporate is great in theory, but who pays for the servers and other costs when/if it needs to scale?
There's still a big difference between making money to survive, and the insane cash grab that was this new API pricing...
That's kind of the problem, though. That insane cash grab is profit driven. Spez said it himself in the AMA: Reddit is profit driven. That goes beyond makiong money to survive. That's investors seeing a return on their money. That's generating value in preparation fo that big IPO. That doesn't usually mix well with the way a site like Reddit generates value: free community created content. Right now, Reddit is banking on enough users not caring about the protest, or the fact that the site is arguably on a downward trajectory. Looking valuable is more important than being valuable at this point.
Thanks Jack Welch for that kind of mentality. I hope you're burning in Hell.
No argument with what you said, I'm just saying there's a big difference between paying for a server, and paying your shareholders.