In honor of Spez’ stupidity.
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.
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
It’s kinda funny on Reddit, you would have had to pay for your picture comment. I’m happy to donate to lemmy, but putting features like this behind paywalls is silly.
You have to pay to post pics? When did that happen?
It was recent.
I’m going to have to trust you because I’m not going back there to check.
Well shucks, all they did was drive out their most active content makers and cut themselves off from hundreds of thousands of dollars in free moderation labor. Who could possibly have seen this coming?
Don’t be fooled. Most went back.
Quantity is not quality.
More important is originality…
Lots of people/bots would just take an existing post from Reddit, and repost it. Sometimes to a different sub, sometimes to the same sub.
For most users, it was still “new” because they hadn’t seen it before.
Those accounts are still reposting. There’s more than few that do it here too.
But that OC has been drastically cut down, there’s just a delay in users noticing that there’s fewer and fewer “new” reposts going around.
So reddit doesn’t see a huge decrease in users immediately, but time on site and daily users will continue to decrease
More important is originality…
Is it, though? I left Reddit for here, so don’t take this as being in their defense, but if originality and ad revenue were meaningfully correlated, Facebook and Instagram would be bastions of original content.
Hell, some of the most profitable YouTubers only post reaction content.
That works in both directions. Don’t assume that the few that didn’t return are the ones that would have saved Reddit via incredible content.
Cool, what does this mean, intelligently?
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
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. :)
It’s such bullshit, Reddit could have been so much more. Researching my latest purchase/obsession, and the only way to find anything that isn’t corporate sponsored reviews or AI content farming is to add the word “Reddit” to the end of the search.
As someone with an 11 year old account that I deleted during the TPA debacle, I fully recognise that there’s a huge problem here. Reddit created a place where people wanted to put their thoughts, ideas, and opinions, and now that they are cashing out TOO FUCKING BAD LAME EBD USER.
Edit: /oblig fuck you spez. Slimy little arsehole sold everyone out and thinks he deserves to be rich because his shitty site isn’t absolutely irredeemable.
11 year old account on Reddit too and I left it during TPA too. Had nearly 2 million karma. Same username as this one.
Anyone else posted this yet?
Looks like yours went up first lol, but as long as it’s up. 🫡
This reminds me… we need an “I’m sorry Garfield” community on Lemmy.
He took one for the community with spez, I’m surprised there isn’t one yet. Guess you can have the honors, TacoButtPlug.
Reddit who?
If I can’t browse my way, I simply don’t use the site.
If reddit pops up in a search result on my browser, wellll best believe I have multiple adblockers making sure their ads don’t load.
And every time a Reddit results show up, I’m immediately reminded why I don’t want to go there by an error telling me that I can’t use the site without logging in.
Fortunately, just changing the link to old.reddit.com still works even through VPN, but fuck this behavior. I do that only for questions I really need an answer and couldn’t find anywhere else, and most of the time the replies are shit anyway.
I honestly can’t believe they haven’t killed old.reddit yet.
Does anyone know how far?
Reddit expects to finish this year with ad revenue … slightly over $800 million… Reddit had said two years ago it aimed to exceed $1 billion in ad revenue by 2023…
So they missed their two year goal by 20%. They had forecasted a 2.9x growth and achieved 2.3x
When it comes time to IPO, they’ll just blame the economy and ad blockers, while showing how many users they forced into their app where ad blocking is harder.
while showing how many users they forced into their app where ad blocking is harder.
Laughs in DNS-level blocking
harder not impossible
Is it wrong that I really really hope he makes less than $6 million out of this whole deal in the end? It just seems fitting…
Why even that much?
2024 is literally a year of leaving Reddit for Lemmy.
i sure hope so, it’s time for the next great migration!
I’m doing my part! thanks ublock!
yes! that place was built by normal people and they sold it to corporations. I love hearing news like this! fuck reddit!
