If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Reddit’s advertising business, which has fallen short of ambitious growth targetsoutlined by executives two years ago. ...
  • gedaliyah@lemmy.worldEnglish
    1·
    11 months ago

    Well shucks, all they did was drive out their most active content makers and cut themselves off from hundreds of thousands of dollars in free moderation labor. Who could possibly have seen this coming?

        • givesomefucks@lemmy.worldEnglish
          2·
          11 months ago

          More important is originality…

          Lots of people/bots would just take an existing post from Reddit, and repost it. Sometimes to a different sub, sometimes to the same sub.

          For most users, it was still “new” because they hadn’t seen it before.

          Those accounts are still reposting. There’s more than few that do it here too.

          But that OC has been drastically cut down, there’s just a delay in users noticing that there’s fewer and fewer “new” reposts going around.

          So reddit doesn’t see a huge decrease in users immediately, but time on site and daily users will continue to decrease

          • QuaternionsRock@lemmy.worldEnglish
            1·
            11 months ago

            More important is originality…

            Is it, though? I left Reddit for here, so don’t take this as being in their defense, but if originality and ad revenue were meaningfully correlated, Facebook and Instagram would be bastions of original content.

            Hell, some of the most profitable YouTubers only post reaction content.

        • Schwim Dandy@reddthat.comEnglish
          1·
          11 months ago

          That works in both directions. Don’t assume that the few that didn’t return are the ones that would have saved Reddit via incredible content.

  • deweydecibel@lemmy.worldEnglish
    1·
    11 months ago

    Reddit’s value as a social media platform drops as it’s value to advertisers rises. The karma system is democratic, the userbase shapes the visual content on the site, that’s was makes it useful. The more mutilated it becomes in service of extracting money from advertising, the less genuine it is, and the less people will seek to use it.

    Spez would like to believe Reddit is a cow that can be milked forever.

    In reality Reddit is a pig that Spez seems to believe he can get bacon from forever. Except to get that bacon, you have to kill it, and you can only do that once.

    • greencactus@lemmy.worldEnglish
      0·
      11 months ago

      Yes, I agree. In the end, Reddit lives off its reputation, just like every social media platform. Seriously, is there an effect that when you’re long enough the CEO of a company, you begin making decisions where it is obvious that they will negatively impact the user base and thus long-term survivability of a company? Is there a term for that?

  • Bonehead@kbin.social
    0·
    11 months ago

    Is it wrong that I really really hope he makes less than $6 million out of this whole deal in the end? It just seems fitting…

    • FlumPHP@programming.devEnglish
      0·
      11 months ago

      Reddit expects to finish this year with ad revenue … slightly over $800 million… Reddit had said two years ago it aimed to exceed $1 billion in ad revenue by 2023…

      So they missed their two year goal by 20%. They had forecasted a 2.9x growth and achieved 2.3x

      When it comes time to IPO, they’ll just blame the economy and ad blockers, while showing how many users they forced into their app where ad blocking is harder.

      • PorkSoda@lemmy.worldEnglish
        0·
        11 months ago

        while showing how many users they forced into their app where ad blocking is harder.

        Laughs in DNS-level blocking

  • iforgotmyinstance@lemmy.worldEnglish
    0·
    11 months ago

    Reddit who?

    If I can’t browse my way, I simply don’t use the site.

    If reddit pops up in a search result on my browser, wellll best believe I have multiple adblockers making sure their ads don’t load.

    • Mikina@programming.devEnglish
      0·
      11 months ago

      And every time a Reddit results show up, I’m immediately reminded why I don’t want to go there by an error telling me that I can’t use the site without logging in.

      Fortunately, just changing the link to old.reddit.com still works even through VPN, but fuck this behavior. I do that only for questions I really need an answer and couldn’t find anywhere else, and most of the time the replies are shit anyway.

  • g0nz0li0@lemmy.worldEnglish
    0·
    11 months ago

    It’s such bullshit, Reddit could have been so much more. Researching my latest purchase/obsession, and the only way to find anything that isn’t corporate sponsored reviews or AI content farming is to add the word “Reddit” to the end of the search.

    As someone with an 11 year old account that I deleted during the TPA debacle, I fully recognise that there’s a huge problem here. Reddit created a place where people wanted to put their thoughts, ideas, and opinions, and now that they are cashing out TOO FUCKING BAD LAME EBD USER.

    Edit: /oblig fuck you spez. Slimy little arsehole sold everyone out and thinks he deserves to be rich because his shitty site isn’t absolutely irredeemable.

    • return2ozma@lemmy.worldOPEnglish
      01·
      11 months ago

      11 year old account on Reddit too and I left it during TPA too. Had nearly 2 million karma. Same username as this one.

  • steve_floof@lemm.eeEnglish
    01·
    11 months ago

    I read somewhere that Reddit cannot advertise on its sexually explicit subs, so I use Reddit exclusively for smut. Lemmy for all my non-smut needs