cross-posted from: https://lemmy.world/post/19466667
Money, Mods, and Mayhem
The Turning Point
In 2024, Reddit is a far cry from its scrappy startup roots. With over 430 million monthly active users and more than 100,000 active communities, it’s a social media giant. But with great power comes great responsibility, and Reddit is learning this lesson the hard way.
The turning point came in June 2023 when Reddit announced changes to its API pricing. For the uninitiated, API stands for Application Programming Interface, and it’s basically the secret sauce that allows third-party apps to interact with Reddit. The new pricing model threatened to kill off popular third-party apps like Apollo, whose developer Christian Selig didn’t mince words: “Reddit’s API changes are not just unfair, they’re unsustainable for third-party apps.”
Over 8,000 subreddits went dark in protest.
The blackout should have reminded Reddit’s overlords of a crucial fact: Reddit’s success was built on the backs of its users. The platform had cultivated a sense of ownership among its community, and now that community was biting back.
One moderator summed it up perfectly: “We’re the ones who keep this site running, and we’re being ignored.”
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This is comedic gold. But the bad part? I envisioned it. Thanks a lot.
And he’s getting rich off of it too. I mean, that’s his whole gain, right? Money! He’s given his soul for money. The whole community hates him, but at least he’s gotten rich now. I’m sure reddit’s annual founders parties must be a hoot.
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Those were the early days of Reddit. They’re long gone now that everyone has joined. Those so-called intellectuals and rowdy revolutionists have now abandoned Reddit. It’s mostly just the sheep left there now.
It’s the same story with Twitter.
Has anyone told them? I think they might not know that.
I’m a sheep and I left reddit. Bah.
Well, it’s dort of an anti-survivorship bias. Those that still sick around seem to not care even if it gets as bad as the other Corpo sites.
What does he care if a bunch of people that he thinks are losers hate him? He’s sitting on his private yacht, anchored just off his private country club, and eating lobster in the hot tub. He’s a major world player now. He doesn’t give a fuck what reddit users think of him.
He’s learned he can do this shit and make money. It may not be a perpetual money machine. But he now has enough and will milk it for all that’s left. That’s what he’s learned.
What do you think he would learn? He got like $190 million dollars in compensation last year, broke the protest, and only lost a small fraction of users. He doesn’t view the site with the same love that we did. It’s just a business to him, and he’s just a soulless executive.
Oh the irony getting removed by a mod here. Although its probably in the mod logs somewhere with an actual reason :)
actually it’s not … An admin banned OP (troll account). Seems that no record of comment exists. Kinda a bug in the Lemmy software where logs of banned accounts aren’t stored, or at least I don’t know how to see them.