The time frame up to the IPO (I don't know how that timing works) seems to be what is critical. Right now Reddit has been unprofitable. The CEO took on massive new levels of expenses via staffing with no real plan (or it didn't work?) for how to pay for those expenses. This bad faith "negotiation" on API seems aimed at... I guess trading 3rd party utility and to some extent the community for the ability to sell data to AI industry?
I guess we will see but pick a time frame and none of it looks good for Reddit.
I am not too surprised by this honestly but a bit surprised at how bad it really is. A site of Reddit's size and no full-time accessibility person? That's crazy right there. To go to this meeting and not be able to answer even basic, obvious questions means they don't take this seriously at all.
It is weird to me to see so many people put forward "Reddit deserves to make money" and endless plans on how to generate revenue from API, apps or whatever etc but just entirely miss that bad faith, is bad faith. There is no negotiation and this CEO will run Reddit into the ground or not but he isn't listening at all to the community as far as I can tell.
Fact is he is the one that is responsible for massively increasing expenses by nearly tripling the workforce while at the same time having no real plan (any plan?) to make money from that move.
It is sad because you know no matter how this works out he will be fine and I bet a bunch of Reddit staff lose their jobs and the community is left floundering.
Let's say no to for-profit business driven social media altogether.
If you don't know Primus, well worth exploring. The studio albums are good and then when you see some live clips and see what they do with it, it's kind of amazing. Les Claypool is a genius on bass. They had very loyal followers.
It is almost like we can't trust a for-profit owned social media site to have our interests as their first priority. I don't know what this CEO is doing but it's hard to see a bright future for Reddit in any case. Its too bad for the community but it is really too bad for those working there.
https://reddark.untone.uk This doesn't seem too bad for a hastily arranged reaction to all of this. I know it is frustrating to not have immediate gratification, but demoralizing those who are staying strong is not helpful.
This doesn't get mentioned enough. They drastically increased their workforce during covid. That is a massive new expense and what exactly do they have to show for it? Has Reddit improved in that time? I don't see that it has. Now suddenly this bizarre API move. None of it adds up to good leadership to me.
Reddit CEO Steve Huffman is fighting a losing battle against the site's moderators (qz.com)
The company wants to charge for API access. Its volunteer moderators have other ideas
r/Blind's Meetings with Reddit and the Current Situation Regarding Accessibility and API Changes
The following is the text copied from the reddit post in the /r/blind sub reddit....
Elon Musk's Twitter moves were 'reaffirming' says Reddit boss amid API changes (www.theregister.com)
Christian Selig: I want to debunk Reddit's claims, and talk about their unwillingness to work with developers, moderators, and the larger community, as well as say thank you for all the support (reddit.com)
Edit: archived link, (alternative)...
Primus - "Tommy The Cat" - Bonnaroo 2011 (www.youtube.com)
Have never tired of this band...fucking unreal!
Reddit CEO says the mods leading a punishing blackout are too powerful and he will change the site's rules to weaken them (www.businessinsider.com)
deleted_by_author
Reddit protestation is making more noise than I expected! | Article from the CBC (www.cbc.ca)
Even the CBC is making an article about it! 😅