Where did that Reddit AMA go?
Addressing the community about changes to our API

Dear redditors, For those of you who don’t know me, I’m Steve aka u/spez. I am one of the founders of Reddit, and I’ve been CEO since 2015. On...

reddit
Doubling down.
"Some apps such as Apollo, Reddit is Fun, and Sync have decided this pricing doesn’t work for their businesses”
Someone needs to learn how to read the room. Damn that’s some bad PR.
@paul “We’Re NoT ProFiTaBle”, hate that garbage, trying to pretend like me with $10 in my wallet has more money than Reddit while they sit in this building and drive 6 figure cars.

@Sonikku congrats on somehow having a worse take than spez

Do you know how any of this works, or?

@jason you know what, fair enough. I get that Reddit as a company can be in the hole monetarily; at the same time I have very little sympathy for Spez and board members who are all sitting on 6 or 7 figure bank accounts, especially throwing third party devs under the bus like this.

Also, cool last name 👍

@Sonikku lol I hadn’t even noticed! A lifetime of saying “ess eee en”

I thought you were generally hating on devs there, who are having to weather all of this and, yes, probably have nice things.

Startups run at a loss for a while before getting cash flow positive (or EDITBA or whatever measure you want), and often founders go without for a bit to hang on to equity instead.

The toxic ingredient is the VC who is funding something they KNOW is unprofitable suddenly demanding blood…

@jason yeah same problem my whole life, everyone wants to spell “son” haha.

And nah not hating on devs at all, just the Spez and collaborators on the board :-P

@Sonikku I also just learned Aaron Swartz was a founder and that is… depressing. In a better timeline, maybe he’d still be around pushing for an open web.

@Sonikku but not turning a profit doesn’t mean the devs don’t get reasonable salaries for their sector… it just means they’re burning money faster.

Reddit is an extremely strange beast to (a) not have already IPO’d, (b) not have sold to equity, and (c) not be self-sustaining after nearly two decades (?!?)

I don’t know what they think they’re doing but it doesn’t seem to be going well.