So long as they can pocket a few hundred milion from the IPO, Reddit management couldn't give a monkey's about any of their milions of users or the thousands of communities that made Reddit valuable in the first place. They are quite happily flushing all that down the toilet to get their big pay day. Why didn't they just go non-profit like Wikipedia? That's the only business model that makes sense for Reddit and is sustainable. But then nobody gets to become a multi millionaire, and we can all see which would be the bigger tragedy for u/spez.
this post was submitted on 07 Jun 2023
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Technology
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It's never been about the API. Third party apps are undercutting Reddit's as revenue. They could never ban the apps outright so they set an obscene cost for API calls to indirectly kill them. They have probably factored in the potential loss of users already and it probably ain't much.
But has no plans to pay its posters, commenters and mods.
Someone said that if they paid their mods they would lose safe harbor protection and be liable for content that was posted. If that's true makes sense why they can't pay them. But that still doens't justify the insane API increase.
Yeah fair enough, though that's in essence the point. The hypocrisy is that they want the protection of, and only pay for, the role of being a dumb platform, but want to be "fairly paid" as if it's their content (the actually valuable thing here) being delivered through the API.
Reddit is lemmy's marketing department
Reddit still doesn't quite understand where their value is derived from.
I can imagine bunch of idiots making user base and profit/loss projections without even opening reddit for once.
I pray they don't change their minds and continue with these plans. It's so stupid of them and I love it.
Yeah, I agree. I'm loving lemmy and haven't spent more than 10-15 min. on Reddit over the past week.
Lemmy is a wonderful tool. All we need to do is add rewards, coins, video reels, promoted posts, and then a sort of celebrity/influencer culture will naturally flourish!
I'm still on Reddit to upvote anything that talks about this shitshow, and recommending Lemmy.
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