Well, quite a few of us reacted by moving here, and I like to think actions speak louder than words. Thank you for having us - we appreciate the political asylum.
It’s bittersweet that I once thought the same about Reddit in the wake of the Digg Exodus, only to spend the next years watching Reddit doing the exact same gradual downslope Digg had followed, with no apparent awareness that history was repeating. I took it to signal an early loss of institutional knowledge, since Reddit was pretty much build on Digg’s broken back. Yes sir, that shit wouldn’t have flown under Aaron Swartz’s aegis.
Fuck Spez.
Decentralization is the only way out of this enshittification loop.
Yup, glad to be here. The deliberate technological constraints imposed by the smolweb can also help, albeit in a different way - it’s difficult to enshittify something that just doesn’t have the ability to be crap in the first place. And on that note, I think I’ll spin up Lagrange and check what’s up in Geminispace.
There is no correlation. The stock was pumped up garbage to begin with, and now it’s correcting
The whole stock market is down, not just reddit. How much of their decline is due to enshittification and Musk, vs. the US spiraling in general?
VOO (S&P 500 index) is down 6.5% this month. Reddit is down 36%. So it’s dramatically worse than the rest of the market.
That would be interesting
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They have about half a billion users and generated more than a billion USD revenue last year. Don’t know if they generate profits but they have a lot of growth (unfortunately).
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They had “gold” but it was removed recently.
It’s still there for me.
too many ads
Every 5th post is an ad in the app. Additionally, they now have ads in the comment section.
There is also Reddit Premium now.
they’ve announced more than one high profile deal to feed their posts to AI.
most of reddit’s valuation is based on their growth & momentum so if they grind to a halt or reverse, their market cap will fall off a cliff.
personally i think a great deal of what they report as organic user activity is entirely artificial, so i’m just waiting for the shoe to drop there as people with millions or more wrapped up in this website’s prospects start to do their due diligence.