Weren’t these assholes supposed to IPO like 6 months ago? lol
They were totally lined up to IPO. I think somebody told him to go all musk on it. I’m still not exactly sure how taking a big fat shit on the user communities face was supposed to impress the investors.
Reddit’s value as a social media platform drops as it’s value to advertisers rises. The karma system is democratic, the userbase shapes the visual content on the site, that’s was makes it useful. The more mutilated it becomes in service of extracting money from advertising, the less genuine it is, and the less people will seek to use it.
Spez would like to believe Reddit is a cow that can be milked forever.
In reality Reddit is a pig that Spez seems to believe he can get bacon from forever. Except to get that bacon, you have to kill it, and you can only do that once.
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I reached the same conclusion and posted it to reddit over a decade ago, asking people to try to come up with a better solution, long before I even knew open source software was a thing.
Well, took 15 years, but lemmy exists now so hooray!
I deleted my reddit account and joined lemmy during the subreddit blackout, but there’s still a few authors I follow on reddit. Most I’ve followed to other sites, and just recently one was suspended for what sounds like a fuck up on reddit’s end.
Reddit lost most of their quality content creators and I can’t see the few remaining staying long term.
Honestly feels like a scam for rich people. Spez just has to convince some suckers that Reddit would be profitable as he cashes out. Then they’re left with a dead platform as they kill it with ads and astroturfing.
This is honestly what I feel like most businesses are these days, just scams to convince other rich people to invest, so they can cash out early on. Basically the same stuff all the crypto currencies were doing.
Yes, I agree. In the end, Reddit lives off its reputation, just like every social media platform. Seriously, is there an effect that when you’re long enough the CEO of a company, you begin making decisions where it is obvious that they will negatively impact the user base and thus long-term survivability of a company? Is there a term for that?
You mean hubris?
More like stupris, amirite
Came from using it daily to only going there only when google forces me to use it
Many of such cases I assume
Me too. It was the constant popups making me download their app that did it for me.
tHiS cOmmUnIty MiGhT hAvE sEnSiTiVe CONTENT, dOwNlOaD OuR ApP pLeAsE!
Just give me my porn, you fucks
Fuck spez
Well yeah, I’m probably not the only daily active user who stopped visiting all together… after 10+ years of daily active use. They brought this on themselves.
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Fuck Zuckerberg, Fuck Spez!! 🖕🖕
As someone has had their accounts shadow banned across of wide swaths of reddit, despite being one of its first users… good fucking riddance.
Your fault for having an opinion slightly deviating from one of the mods :/
Fuck man, I’ve had this happen to me multiple times:
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I make a relatively long and detailed comment.
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Someone replies with a vehement argument against a /misreading/ of many of the things I said in my comment.
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I point out that the replier is misunderstanding or misreading my original comment
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My original comment /is then edited not by myself/ to make it seem like the replier was correct the whole time, and then the same or other repliers dogpile on the thread claiming I am insane.
It is truly unfortunate that so many reddit mods seemingly have no problem using alt accounts and abusing their powers exist governing very interesting niche subject matter communities that you will just never realistically find a group of like minded people in the real, not online.
People used to think the internet could be used to the mass benefit of humanity by sharing information and having lively discussions about it.
It is now clear that the vast majority of people basically just use it to consume mediocre entertainment content and basically have one kind or another of popularity contest.
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Nothing says you care to advertisers like single handedly blowing up your website by cutting off 25% or more of its userbase.
They feel like they get shorted because many of those users don’t contribute to ad revenue from 3rd party apps but instead of improving their app to lure users in they instead tell those users to fuck off.
A user is a user, even if they don’t contribute directly to ad revenue they contribute content to make the site more alluring for those who will contribute to ad revenue. As well they help spread the word about reddit to those who don’t use it regularly yet by sharing that content outside of reddit.
They were pretty short sighted by doing what they did.
It’s just many power users and mods were power users and mods thanks to tools in these apps, and Reddit still didn’t provide anything comparable. Many small communities I still care about have a lot less posts if they don’t have bots. It’s not like Fediverse won Reddit, but something changed in them. NSFW OC subs are still good, but idk if they make the image spez wants from that platfom. The only thing we def should do is to stay online and be welcome for stray redditors to join.
A bunch of subs that I like and that are niche had the mods say “fuck it bye” and they are no more. Some migrated here, some on discord, but the fragmentation means less users overall, so less content. It’s a shitty situation.
The phrase “cutting off your nose to spite your face” comes to mind.
I believe it’s “spider-face.”
Some app dev mentioned they wanted to work with them to introduce ads that Reddit would have made profit from in the free version of the app and it’s Reddit that said “Nah it’s ok”…
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Remember, the reason I ditched Reddit wasn’t the ads per se, it was the constant data selling, and the official app just getting worse and worse with unwanted “features” pushed on everyone. They kept getting greedier and greedier so when they disabled 3rd party apps I ditched Reddit.
fatbird still exists
I mainly lurked on the art and fanfic forums, and considered getting an account when I had the time/had created something worth sharing on there. But when I learned about the disabling of apps to improve accessibility…I started looking for alternatives.
Plus, I don’t like the idea of the karma system on there. Supposedly, it reduces the number of trolls and low effort posts, but I’ve seen it cause people to post ragebait to karma farm on subreddits that reward you with upvotes for making up outrageous stories. I’ve also seen “debate” subreddits where people downvote people who make good points, but disagree with. Then those people leave, not wanting to be punished on other subreddits that require a high amount of karma to post, leading to “debate” subreddits that are laughably one-sided.
I actively participated in Reddit before the killing of the Third Party Apps, because I really liked the content and the platform was a superb experience on a third party app.
I don’t know if reddit ads provide a good roas. We tried a few campaigns and gave up because it was so far off what we see on other platforms. The community is super anti-advertising, the targeting is really limited by community and geo.
People go to reddit to veg out, not to shop. I think the only times I’ve made purchases based on things I’ve seen are when there’s a discussion and numerous people make a recommendation for the same thing, or maybe a few cases when the op is showcasing something they had a personal part in creating.
Back when Reddit was good the ads used to be like regular posts with a comment section, so you could actually talk about the product and exchange experiences, and the advertiser would sometimes respond. I found it to be a transparent and valuable way of advertising, and I actually liked the ads back then because there was a social and learning aspect to them. But of course they got rid of that, supposedly because what if somebody says something bad. They don’t understand that the lack of honesty and dialogue is what makes people loathe ads.
Fuck advertising, but that’s a brilliant idea.
Reddit doesn’t allow targeting by community?! To me that seems like the most obvious feature.
No it does, I think it’s limited to only community and geo
Nothing to celebrate.
Reddit revenue is still up, just not as much as they had hoped.
That’s still enough to tank an IPO.
Yep, in the face of the infinite growth monster, anything other than exceeding expectations is seen as a failure
“We see here you’re up 5%, but you were up 5% last year too, so you’re dead now.”
-Capitalism
I still remember a line from a boss I had in one of my very first “real” jobs. “I expect you to exceed my expectations.”
I didn’t bother pointing out the problem there. I also didn’t stay working for her for very long. :)
Can you buy puts on an IPO?
2024 is literally a year of leaving Reddit for Lemmy.
i sure hope so, it’s time for the next great migration!
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It’s in the article. They were aiming for 1B, grew 800m.
Bruh, are you putting a licence on every single comment? Lol.
What do you hope that will accomplish?
Btw, don’t you actually have to say in the comment that the comment is licenced using “CC BY-NC-SA 4.0”? Just linking to it seems like it’s not enough.
Falling short of growth targets doesn’t mean they made a negative. Hitting 4% growth instead of 5% is still pretty good for example.
If you like this comment I made, feel free to tip me with PayPal.
I have sent the money.
Consider it a bribe.
Is that a CC license for your comment? I wonder if it actually works, legally, because I do like the idea that (for example) commercial LLMs wouldn’t be allowed to train on my comments.
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Falling short of growth means their going to take aggressive action.
This is typical traded-company bullshit. You have to reach quarterly projections. Even if you’re in the black, if you don’t reach the projection the shareholders will react accordingly.
So, to avoid missing their next quarter, they will enshittify to meet shareholder demands. And it may work, for a while. But it will continually drain their userbase to nothing.
