not coincidence, but not conspiracy either. Smarter people would explain it better, but essentially big-money investors got fed up (hehe fed) with unprofitable 15-year-old startups and demanded returns on their investments. This means a big social media platform needs to either start generating cash or get new cash quickly to pay CEO’s early retirement bills. Reddit’s IPO is an attempt at getting cash quickly - tell the suits at Wall Street that if they give Spez money he’ll give them more money later on. To make this claim even remotely credible he needs to plug holes and at least stop losing so much. Plugging holes means killing off everything that can be easily killed to reduce operating cost, such as API, trimming workforce etc.

This happens all across the industry, I wouldn’t blame it on some big setup by billionaires, Saudis and Xi Jinping. Just economy doing its things but this time it does things with services used by millions. The one question is how long until the bulk user has enough and leaves bringing the whole house down.