REDDIT posted a more than 20 per cent rise in revenue in 2023 versus the year before, sources familiar with the situation said, as it prepares for one of the United States’ most anticipated potential initial public offerings (IPOs).
REDDIT posted a more than 20 per cent rise in revenue in 2023 versus the year before, sources familiar with the situation said, as it prepares for one of the United States’ most anticipated potential initial public offerings (IPOs).
I trust Reddit enough to manipulate the numbers
to make the situation better than it looks like.to make the situation look better than it actually is.*That said, some increase in short-term profit is to be expected, when a company exploits its own value: getting rid of third party apps, decreasing running costs by locking LLM training bots out, being rather aggressive on pushing towards the official app to anyone who “dares” to use a plain mobile browser, wrestling control of the subreddits from the “landed gentry”, so goes on. The problem will be only quantified later, as profits will drop and “nobody will know” why.
So it’s a lot like eating the seeds for your next season. Sure, you’ll be fuller now, but you’ll starve later.
*just fixing the poor original phrasing.
Doesn’t matter as long as the people who did it got their money and are sailing to the sunset in their private yachts.
What do they care if yet another fantastic website got turned into a steaming pile of enshittification in the process.
They don’t care, indeed. And that genuinely leaves me with a sour taste in the mouth - that they’re enshittifying a platform that used to be decent, and getting away with it.
I wish that users fought against it, by simply… leaving. However whoever was to leave already left, like us; the rest is like that sort of dog with an abusive owner, no matter how much Reddit Inc. kicks them they’ll remain there, and never fight back, at most whimper.
Reddit is who still “feeds” a lot of us. I looked for alternatives, and use Lemmy as much as I can, but there just are communities that only exist on Reddit.
I did prune my subscribed subreddits from 140 down to 11 though, and will never install their official app.
Cases like yours count as “leaving”, for the sake of this division. Sure, you’re still interacting with the platform - but you’re doing it in a limited way, only with the comms that you couldn’t find elsewhere, dictating how you do it, looking for and feeding alternatives. You aren’t passively accepting the shite going on, like the majority there.
What I said applies the most to the moderators still there, rationalising excuses to not migrate their communities. Lemmy/Kbin, Tildes, oldschool forums, even Discord (eew), unless the alternative is 120% perfect it is not good enough. Still submitting their users to an abusive administration, knowing that Reddit will go downhill past IPO, but doing nothing against it.
What? Nooo, Spez would never make undocumented changes to misrepresent things! Don’t be silly.
You made me realise that I worded it really, really bad. (I need to fix it.)
I’m glad that you guys got the meaning that I was trying to convey though - that Reddit Inc. is scum, you can trust on the fact that they’re scum, and spez et al. are likely distorting the situation to make Reddit look more profitable than it is.
Thanks for reminding me of this. For those not aware, in 2016 Spez secretly edited users’ reddit comments. It’s fascinating that he survived as CEO after that given that it shows an absolutely breathtaking failure of judgment and self-control.