this post was submitted on 14 Jun 2023
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This is the gist of it. It will happen again, and again, and again. After they go public, every quarter that they need to come up with some shenanigans to satisfy shareholders, it will happen again. Eventually, either a new thing will come up and start it all over again, or we will be mostly decentralized.
I think on top of that each time we get more and more of the creators. The vast majority of users are lurkers on Reddit, purely consuming content and ads. If content starts moving to new platforms then the users will follow. That's why power users are important, they're most of the discussion. We saw it with facebook, they lost the communities that made it fun and over time more and more people left the platform to go where the content was, the slow death of a social media titan.
Death? Facebook is still lumbering with no problem, because there are groups on there that help people make money, which keep them there forever. I manage one such network and have no idea of how to get away from Facebook, because it's basically like a non-anonymous equivalent to Craigslist jobs, which makes it so much safer and easier to find and post work on. Anything else would require more separate accounts that people probably just don't care for, etc.