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Reddit power users balk at chance to participate in IPO as Wall Street debut nears (www.cnbc.com)

submitted 7 months ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] Mordiken@lemmy.world 17 points 7 months ago (1 children)

Yeah I don't think mods and "power users" that stayed after last year are necessarily against reddit succeeding, just not willing to buy in at a 6.5bil valuation for a company that can't turn a profit and lost 90+ mil last year and 700+ cumulative.

I got the invite but didn't do anything about it because:

I assumed the invite had been sent to just about everyone;
I like going there, but not enough to give them money.... Or disable my adblock.... Or switch to the accursed "modern layout"...

Come to think of it, I don't like reddit at all, Just the communities that exist there.

[–] kamenlady@lemmy.world 5 points 7 months ago* (last edited 7 months ago)

Reddit, the company vs. Reddit, the community.

Not an iconic duo... They couldn't be more different from one another in their goals.

There's nothing against wanting to make profit of something you own. The way they are forcing through it though. They were just fine with blocking 3rd party apps, in order to not lose on the opportunity to sell the access, because suddenly AI's hunger to be trained was sucking all the community's content for free,

I think that they didn't even lose a thought about the consequences of suddenly charging an absurd amount of money to get API access. They way they handled it, made obvious that they don't give a flying fuck.

An established and beloved way of using Reddit, lots of refined apps, being constantly updated over the years. The very apps that enabled a good experience on mobile, specially for mods, enabling people to create that very content they are selling now.

It's disrespectful and just bad taste, but not unexpected from a pos like ^fuck Spez tbh