Huffman said he saw Musk’s handling of Twitter, which he purchased last year, as an example for Reddit to follow.
The writing is on the wall. Those who are staying on Reddit despite everything u/spez said recently are literally asking to be shit on and will fully deserve it.
Even if he actually thought that, why the fuck would you say that right now when a large amount of your community is revolting against you? Comments like these are only further destabilizing a bad situation. If I was on the board, and even if I fully supported the changes, I would have him removed for adding more fuel to the fire.
The article mentions him and Elon having chatted a handful of times. I guess he's probably sucking up to Elon as he thinks he might be able to secure some cash from him in the form of an investment or a merger with Twitter.
It could be a suck-up investment play. The problem with hoping a narc like Elon invests in you is that the second you’re not useful to them, they will dispense with you like a dirty cumsock. See: all the people who tried to suck up to Donald Trump and ended up with damaged reputations.
Reddit seems to be in a bad way financially. Their investors have written them down. They’re still making losses. They’re laying people off. They’re implementing these absurd API changes. They need to make a lot of changes to monetize something that’s hard to monetize, and I think that this is a sign of much worse things to come for them and their users. Despite their success at online relevancy, they’re actually a bad business and I wouldn’t be surprised if at some point they got bought out by private equity and picked apart.
The sad part is that it didn’t need to be this way. I think in trying to get hyper-growth and relevancy among normies, they ended up investing too much into areas that would help them do that. If they had stayed content to remind a simple forum, I think they could have been a sustainable business. But the VCs demand to have a unicorn, I guess.
Elon was ordered to buy the site by a judge after a failed scheme to use the acquisition as a pretense to expose the “bot problem” on the platform. Maybe don’t base your company strategy on the guy who is paying down a massive 44b loan because he wanted to meme the price of his fake buyout that blew up in his face
The guy whose fortune comes from using other people's content to attract other people's eyeballs to yet other people's ads is praising the cost cutting strategies of a guy that has just decided he shouldn't need to go honour contracts or pay rent.
Watch out, Reddit staff. Your boss is telling you what's coming next.
Not if you want to make money. Twitter is losing bucket loads of money without a real plan to change that and it sounds like in the process they are taking on an extraordinary amount of technical debt.
Steve doesn't have nearly as much money to throw at reddit as musk does for Twitter either.
How long now until reddit stops paying rent, gets evicted, and fires all their employees because they get told to work in an office they were evicted from and you can't work from home?
Imagine looking at the chaos of Twitter and thinking “wow, that’s a great idea. I need to do the same”
Twitter is seeing declines in usage and has quickly fallen from its position of having an outsized place in the social conversation to a position of being a train wreck everyone is enjoying watching.
with him at the helm i’ll never use reddit again. even if apollo made a deal to use the api I wouldn’t go near reddit until there is a change of leadership. It’s a democracy with a dictator at the helm.
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