LenticularTorsionReddit: open /r/pics or else. Mods: OK but you didn't say how
Incredible move. But I doubt it'll last. Reddit is going to became 9gag and iFunny very soon. Rest in peace old reddit. It was fun while it lasted.
The point is to hit reddit where it hurts - ad revenue. There will be a slight spike in interests as people laugh, then the lack of original content will cause people to be bored. New subreddits will have to be created and built from the ground up. Moderating a subreddit with 40m subscribers is hard.
Spez needs to realize that going to war with the users is a dumb move.
Spez is thick as fuck but reddit will likely IPO and be just fine, this was a battle that didn't need to be fought.
Spez is a bad leader and his goals lie contrary to reddit's mission statement.
I left last time, I think it was the Victoria thing, and I joined Voat and that quickly went to shit. Reddit will get what they want from this which is more mainstream use.
I would argue that this whole thing will delay or devalue the IPO. Institual investors will look at this rather public fight and question his leadership. And the whole attempt at damage control makes him look bad. The only investors that will look past this fiasco are those who are doing the long play, and even then, they likely won't want Spez involved.
From a risk perspective, Reddit has just highlighted it's biggest risk: the volunteer moderators. The only way Spez will be able to fix that is to replace moderators with AI or paid moderation teams. At an estimated value of $3.4M, and a company that is not profitable, that increases the risk in terms of the business model.
In general, social media is inherently flawed for profits. The path to monetization is ads and data, and the fact that Spez is now squeezing the users make me think that the value of the data and the ads is not producing the returns to compensate for dumb ideas like the NFT project.
He will not realize that, because he wants money and he'll get it. On the one hand, Reddit was fun. On the other hand, it's archaic for the reasons we're experiencing right now. Progress.
I visited 9gag last week for the firdt time in maybe 8 years...wow the boomer humour and aggressive bigotry rivals Facebook
Wow you ain't kidding! Its White nationalist this, and White nationalist that! They're going to replace us! /s