Reddit isn’t profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform’s API
You must log in or register to comment.
They have TWO THOUSAND PEOPLE working at Reddit and Memmy for Lemmy is a superior product with how many people working on it?? 3?
Spez is an impossibly incompetent Elon Musk wannabe (the person who just flushed $44 BILLION down the toilet due to incompetence). He needs to be drawn and quartered tbh
Elon flushed 44B and made 96B just this half year.
The game isn’t right somewhere.
The game was rigged from the start.
Always has been.
Haha never has been
There’s one interesting thought that never comes up in history class…
What happened to the aristocracy?
They didn’t give back their land holdings (basically anywhere), they didn’t pay reparations, they didn’t give up their investments… In some places, they never stopped getting a stipend.
France and Russia. They killed the aristocracy (although others filled the void). In the Americas, if they existed they were killed and replaced with Europeans. In much of Asia, Africa, and the Pacific, locals were raised up to the position.
The US is organized into counties (Counts), territories (Marquis), and states (Duke). There’s a couple commonwealths like Virginia too… Why? What does landowners mean? It’s all over the constitution. A jury of your peers sounds a lot like a group from the peerage. A redress of grievances from the federal government isn’t an option for the common man, but it’s in the bill of rights.
When did it end? Because Lord Fairfax isn’t a title held anymore, but Fairfax county VA most certainly still hosts the Fairfax family, who are extremely wealthy landlords. They called capitalists who rose up from the common people “robber barons” only a few generations ago… Maybe not because they stole from the people (Carnegie and Rockefeller most certainly gave back to the community), maybe because they didn’t come from a certain social class? Name a billionaire or a senator that didn’t come from the “I never have to work” class…I can’t.
Yeah, the game is rigged. It has been since Rome. The lines have been blurred, but they’re still clear if you look for them
“Why is America constructed similarly to the country the people who founded it were from”
C’mon man this is not a conspiracy lol. There is no true American aristocracy, in the way an aristocracy is actually defined. Having money is a very good thing, and your life is easier if you have it. That’s not a conspiracy.
FOSS does not have an inherent detriment versus corporate products. If enough people want to do it, development of FOSS can in principle move just as quick or quicker than corporate development (and more efficiently too).
The recent interest in Lemmy, largely thanks to Reddit’s incompetence, means that not only is the core software moving very quickly but the app scene is growing quickly as well.
I wouldn’t say it’s a better product, but it is quicky moving in that direction.
I’m so happy user funded and user controlled is a viable market strategy.
The official Reddit app is just a miserable experience. Take away the ads and bugs and I still don’t like it. Navigation, layout, voting are all inferior to Memmy already and the gap is only widening
Agreed! Any time I go back to try it out, it’s a miserable experience. I was spoiled for 6 years or however long it was with Apollo where the user experience was obsessed upon. I’m using Mlem now and it’s refreshing compared to the official Reddit app.
It also works for operating systems ;)
Damn.
Is that 2,000 paid employees or does that include moderators?
Of course it doesn’t include moderators. Moderators are users.
Also, there are way more than 2000, especially once you call all the very tiny subs that technically have moderators. But even if not, Reddit’s biggest treasure are all the niche subs.
Reddit would implode instantly with only 2K moderators. According to this Reddit post, six years ago there were almost 75K moderators working in subreddits with more than 500 subscribers (i.e. this number only includes moderators who actually have to do some work because their subs are decently active). That number is certain to have grown since then.
“Reddit would implode instantly”
Don’t threaten me with a good time.
glad i disembarked that submarine
The “anti evil operations” team is technically paid moderators, but have no idea how big they are.
He needs to be drawn and quartered tbh
I do declare, spoken like true landed gentry m’lad.
How much revenue do you think it would generate if streamed on ThreadsLive?!
If you ask a computer engineer, they would say that’s what you get with and without a product/project manager.
I’m a software dev, I can fairly claim to be a software engineer as well
It’s not just having a product owner. We have a parable…
A manager asks a senior dev how long it will take him to build a thing. He says 9 months. They ask how long if they get another couple devs on it - he says 8 months. He asks how long if they add a dozen people, and he says it will never be finished
There’s plenty of variations, but it’s not a joke - how many people built the Linux kernel? How many built C? How many built Apache, how many built transformers, how many built osX?
The answer to the best technologies is always 1 or 2, maybe with helpers. The more people you add, the harder it is to innovate - you can polish all day long, but 1 sharp person can build something better than a dozen equally sharp people. One brilliant person is more effective than one brilliant person with a dozen helpers
It’s all about quality, quantity only weighs down the process
At one of my previous gigs our boss was big on the “double the devs/half the time” mentality. Our favorite response was
9 women can't make a baby in 1 monthI think this is somewhat overstated (also a dev), but there’s definitely truth to it. The division of work needs to be clear from the start, and ideally the design done collaborative to really have additional devs help.
Part of the problem is we all think different, so even two brilliant devs can step on each others toes and cause problems if they’re not synced up on what the plan is.
Linux Kernel is kind of a bad example since its one of the examples of project scaling with many people from many companies. Even if you want to go with its inception, it came from Unix which already had many people. Of course, its also one of the best examples of actual leadership, proper technical people management, which is something very hard to come by. Its also a great example of how to divide your design and make it scalable, so people are working on different parts totally independent on each other.
That’s all actual, proper, work, not whatever crappy slide presentation passes as leadership on many places.
Unix has a similar backstory. Prior to its existence, there was a project called Multics aimed at enabling efficient sharing of a computer among multiple users. However, with a lot of teams involved, the project became overwhelmed by excessive complexity and stalled, eventually being regarded as a costly burden and dismantled.
Later, the guys who would later develop the programming language C joined forces and created Unix. They drew inspiration from Multics but took a much simpler approach, and added some innovative ideas. The result was a remarkable achievement.
The funny thing is… for me it wasn’t even the API changes, it was how Steve reacted to the community feedback. If you need to make your app profitable that’s fine by me, but don’t ignore your customers so bluntly. They could’ve easily worked politely with devs to find an agreeable API price, find alternative funding streams for those devs, etc. They did none of that, instead Steve acted like a jerk.
Honestly if they’d worked with the Apollo dev and he’d turned around and proposed something reasonable like $2 a month to continue using it I’d still be on Reddit.
Treating Reddit users like shit, treating devs who have made their whole business about making Reddit better like shit, fucking with unpaid mods, and finally, this weird manifest destiny attitude that Reddit will succeed despite all of the above turned me to the Fediverse.
Just make it part of reddit premium! Ugh, why wasn’t that the solution.
Because that doesn’t kill the competition.
I have been so spoiled by my 3pa I can’t even look at the old.wasit.com I just see
Ad Post Post Ad Post Post Post Ad Next page.
Idk how people put up with that.
That link is extremely dead, what was it
Reddit was it but not anymore
Embrace Ad Ad Extend Ad Extinguish 30 second non skippable ad
Stil frustrates me. Being fair about why the business side needs it and then giving a time frame to devs to integrate with premium calls would have been the best option.
There would have been some revolts because of it, but nothing like the last few weeks imo
deleted by creator
Good point! It was not a given, but right now it seems like Reddit’s choices (and related events at Twitter/Meta) have been driving new platforms to emerge. I’m still incredibly suprised by the adoption of Lemmy and Kbin and especially the quaility and diversity of available apps for the platforms. It’s just really cool to see what people can do when they care about communitites of people coming together.
This precisely. It wasn’t about charging for the API. It was about charging an exorbitant amount for the API, giving devs a tiny amount of time to come up with a solution, and then belittling the user and moderator communities.
I don’t want to be a part of a website that treats its own community with so much disdain and spite.
deleted by creator
It oozed bad faith. I’m surprised they didn’t just say “API is dead, here’s a new different product” if they were really eager to charge LLM scrapers the moon for training data, or kill apps.
I suspect someone in legal told them that would be a risk-- if they can’t farm out accessibility issues on third party apps anymore, I could see them having ADA compliance issues.
It looks like they took the “constructive dismissal” model-- make it hostile enough that the “voluntarily” abandon the platform. Then it’s not Reddit’s fault all the apps left, and why they seemed to scramble to find a poster child “accessibility” app and give it a sweetheart deal, so they aren’t completely exposed.
100%, I was mad about the api changes but realistically I would have stayed
But seeing the interviews he gave was just too much. Especially when he was talking about monetizing people who say things on Reddit they wouldn’t say to their therapist. Like, that group specifically you want to milk? Fuck spez
But seeing the interviews he gave was just too much. Especially when he was talking about monetizing people who say things on Reddit they wouldn’t say to their therapist. Like, that group specifically you want to milk?
Wow, I actually hadn’t heard that 🤯 It seems believable based on his other behavior though. It’s honestly a shame, Reddit is a cool forum, but it’s kind of like a nice restaurant where you know the owners are just awful people… And that really just ruins the experience of being there.
https://www.nytimes.com/2023/04/18/technology/reddit-ai-openai-google.html
Paywalled but he talks about the value of the data on Reddit for ai training, basically that he wants to get the money from people saying stuff they’d only say in therapy otherwise
Dude is a creep
The API change did not affect me personally, I use old reddit anyway, but the reaction showed that he will run this site into the ground since he just does not really get it or is extremely greedy and does not care.
This is the business world in general. Consumers need to say to businesses in no uncertain terms that they cannot just do whatever they want and still remain profitable. Without users, there is no profit. Charging for the API would be completely acceptable and expected, but they decided to go the most cartoonishly villainous route possible. This is what a lot of companies are doing now. They have gotten far too used to the profits being free. We should teach them a lesson, collectively.
I’m 43. I lived a good amount of my life without the Internet and even more of my life without smart phones. Even after gaining reliable Internet access, I remember the times when the Internet was not just a few big companies. I just rediscovered one of the old forums I used to hang out on is still operating. They have an active IRC channel as well. Don’t think we can’t go back, big tech. It would be so easy to go back. Don’t tempt me with a good time.
deleted by creator
The internet should be a utility so I kinda like where you’re going here
Fund it with donations, open source all the technical components
reddit did both of those originally
but when they started taking private VC money they had to start making returns on that investment which spiraled into the current situation
deleted by creator
deleted by creator
Which is incredibly stupid and shortsighted. Third party developers have made the UX actually tolerable, and of course the users are the absolute cornerstone of the whole website
deleted by creator
I remember when reddit gold was there to pay server costs. There was a little bar on the side to show how much % was covered per day. I had it for quite awhile. But then I hit financial trouble and had to cancel. By the time I could afford to give back they got greedy and I couldn’t in good faith keep giving them money.
Reddit could have been a non-profit like Wikipedia. But they wanted all the money.
It’s so true! I’d still be on Reddit too. Social media is not that big of a deal in my life. I never imagined having my nerve struck so hard. That I’d delete a 11yr old account. Loosing Apollo definitely would have lowered the amount of time I would have spent on Reddit, but I changed comments, burned my accounts, and did a gdpr request, when I saw Spez’s AMA and he doubled down against Christian. And Christian easily provided the call recordings. That was so terrible. I don’t want to be anywhere near that.
I still haven’t fully moved on from it. I’m not sure if I’ll delete my account or wipe my comments or not. I don’t think it really hurts much to actually have an account registered with them(?)
There’s also a fair chance that I’ve answered some useful techal support, programming guidance, or career guidance questions on there that would be lost to the search engine gods if I wipe my account… And that seems not so great.
I don’t think everyone needs to be so drastic. And helpful genuine answers on niche topics is how I found reddit in the first place. In a way, for me, reddit became a google alternative. I liked seeing a qualified discussion about something. Especially discussions about things that never feel trustworthy, from life, relationships or even product purchases. I always feel I can distill a conversation down to gain perspective. Lemmy will accomplish that, but it’s going to take time to build it.
I can’t see myself “using” Reddit again. But it will be inescapable to visit the site when I just need a good answer to things from years ago that were arrived upon in some old thread. To me that’s reddits greatest value. What we all contributed. So I totally understand why you can’t so handedly throw it all away.
This sounds a bit like Google’s murdered project Vark.
All they had to do was charge relative to the value reddit is providing to said apps.
Instead they gave the “fuck you” price and now theyre not getting any money for their api.
He thought he was invincible . He truly had a loyal following. He unnecessarily fucked it up. He could of had it all; everyone was in support until he decided to do what he did
Yeah, we all see his extremely punchable face. Simultaneously blond and ginger and rat-like. It’s a big reason I’m off reddit.
Not that you’re wrong, but the rodent comparison, in light of reading this on Lemmy, gave me a chortle.
Not that you’re wrong, but the rodent comparison, in light of reading this on Lemmy, gave me a chortle.
This is what the API protests revealed as well, as a mod team could decide to go dark without input from its own users
No, just no. Nearly all mod teams had polls about this, and all of those polls with dominating majority selected to shut down. Who is this guy? Is he getting paid by Reddit? If anything the protests revealed that Reddit admins would do anything, including disbanding the moderator teams to bring subreddits back, to suppress protests.
Came here to say the same, it’s BS, all mods asked their communities, most with polls, other with closely monitoring feedback in the blackout announcement threads, no mod acted on their own, they were all supported by the overwhelming majority of their communities.
I don’t agree with this at all. I saw maybe 3 polls in total across the dozen subs i was on that blacked out, and they were only up for a few hours max. One got like 60 votes to shut down and then the poll was closed - on a sub with hundreds of thousands of people - and they shut down and said that was conclusive 😆.
Oh well I don’t care anymore, I deleted my 13 year old account with 200k+ karma last night. From now on if I have to go to Reddit it’ll be on a browser with ad block and not signed in.
-
You probably would want to link the subreddit vote next time you claim there are extreme disparities between the vote count and user count. The mods may very well have not given enough time for people to vote, or people just plain didn’t vote at all. But we don’t know, except from your claim.
-
The users who vote will ALWAYS be much less than the people who lurk on social media, no exceptions. I’m of the opinion that if you don’t vote/engage in the community you’re in, you are complicit to anything the active users decide. Democracy.
deleted by creator
I’d quit at that point if I were them.
Anecdotally, I also experienced this, maybe I just missed the polls, but I only saw a handful.
Literally any sub with more than a dozen users had an extreme disparity between user count and vote counts 😂
Not to mention the polls were all gone not long after they closed on most subs. Doesn’t take a genius to figure out why.
I mean, going by the 90/9/1 rule, it’s not unnatural if only 10% of users or less showed up to vote. Hell, if only 1% voted I won’t be surprised either.
The subreddit I moderate has had a poll going for the last 2.5 days.
- 1390 members.
- 75 poll respondents (5% of members)
- 7 commenters (0.5% of members)
It’s a disappointing turnout. Also, I’m one of those poll respondents and commenters. (If you remind me, I’ll post a link to the poll once it closes in 8 hours.)
I’ve had one going for 3 days now, 2k members, 160 votes and 7 comments. I was pretty surprised to see even 160 votes, its a vote for blocking a certain type of post that has been spammed recently and doesn’t contribute much.
-
I’d argue reddit lost their identity days ago. Several iconic communities and features died with the API slaughter. Now it’s just another link aggregator without the things that made reddit unique.
Yeah the risk has definitely already materialised. Reddit is forever changed even if it’s still alive.
Can you elaborate on this? Which landmarks have permanently fallen?
I know that Minecraft left. Based on what I’ve read here recently, the r/android mods moved to the fed as well. BotDefense just closed up shop.
The AMA subreddit mod team gave up on support and recruiting people to give AMAs. /r/pics and /r/videos are gone, almost certainly not coming back. Many companies, like mojang, that used reddit as a semi-official forum have left. Numerous small and medium subreddits have migrated over here. Not API related, but april fools this year was literally just a potato. Other than maybe /r/askreddit, there’s not much there anymore that I can think of that still makes it unique.
Not OP, but /r/AMA was one major casualty - mods just basically said F this we’re not dealing with this crap anymore. /r/Pics is fighting the admins on the NFSW tag, along with /r/cyberpunk. /r/interestingasfuck was another one.
As a long time ex-Redditor, the impact is definitely felt - it’s just become another link aggregator. I no longer feel any attachment to the site, especially after finding the Fediverse a much richer source of intelligent content and commentary.
Acutely maybe, but it began years ago. I remember as early as 2013 or so people were saying it was not what it had been before
deleted by creator
I totally agree. Devaluing the product seems to be the way of business during this inflation. On social networks it’s the content creators. In the music industry it’s the plummeting percentage paid to artists over the last 5 years. You see it everywhere. Simultaneously requiring subscriptions. Essentially Reddit was going to force the API into a subscription profit model if Christian Selig went along and kept Apollo alive.
