this post was submitted on 22 Jun 2023
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Technology
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Notice how Reddit haven't engaged in any positive damage control at all? It's just been hit pieces against devs, an AMA with completely canned responses and unprecedented wide-spread hostile action against it's content creators/power users/mods?
Reddit is in full-blown sell out mode right now and nothing but money matters anymore. It's all down hill from here.
It does certainly seem like it, but what exactly are they trying to achieve? They don't have an IPO yet and even if they got one now it would be devalued over before the shit show. And with every new day reddit shows potential investors that they have absolutely no control of the situation, and just doubles down on idiocy.
How is it supposed to make money at this point?
Memory is short on the internet. Reddit are hoping for this to blow over "quickly" (i.e. in a month or two) because they know the bulk of their users will continue to show up (out of inertia or a lack of viable alternatives). If they can keep the front page showing decent posts, they think they'll make it through.
I think the knock-on effects of losing mods and "power users" will take some time to play out. The real long term effects won't be known until it becomes clear that the loss of those key users has effected the quality of the posts and therefor usage by your "average Redditor."