this post was submitted on 29 Jun 2023
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Who is investing in Reddit at this point? I guess they can just dump their shares against etf buying.
Reddit is not public, so it’s just private investors at this point that funded series tranches. They, of course, are pushing to have Reddit get profitable and then IPO.
I guess we will see what happens, but Spez may have totally messed-up their plans with the inept API pricing and the response to the concerns about it.
It could have been totally averted if they just introduced a reasonable user fee and license that could be used in any third party app.
Spez could have even required 3pas to carry Reddit ads - a lot of us would have grumbled, but stayed.
But Spez didn’t want that, did he? If I had to guess, I'd say Reddit's official app is even more rigged with tracking than Tik Tok. That's why it lags - it phones home every time you pause in your doom-scrolling, to log what stories you're interested in.
That's the most bizarre thing to me. Without knowing Reddit's financials, it seemed like everyone could have their cake and eat it too. We could get a UX catered to how we choose to interact with Reddit and Reddit could make money hand over fist. We all knew the totally free experience wouldn't last. Reddit very easily could have been like "ok guys, party's over. We need to force ads on 3rd party apps". We'd bitch about it, but it'd ultimately be fine. This scorched earth approach to how they handled it is just so out of left field.