Technology

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?

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.

Anyone else posted this yet?

Weren’t these assholes supposed to IPO like 6 months ago? lol

Well yeah, I'm probably not the only daily active user who stopped visiting all together... after 10+ years of daily active use. They brought this on themselves.

Came from using it daily to only going there only when google forces me to use it

Many of such cases I assume

Nothing to celebrate.

Reddit revenue is still up, just not as much as they had hoped.

Nothing says you care to advertisers like single handedly blowing up your website by cutting off 25% or more of its userbase.

Fuck spez

Let's for a second take stock of what's happening here.

The ad revenue is falling short of the projected prediction of what it was supposed to be. As in the profit from ad revenue did not reach that arbitrary number.

Reddit is still grossly profitable.

This is the same kind of headline that says Facebook lost 11 bagillion dollars but in reality they didn't lose a dime they just didn't make as much as they wanted to.

We did it, Lemmy!

Remember, the reason I ditched Reddit wasn't the ads per se, it was the constant data selling, and the official app just getting worse and worse with unwanted "features" pushed on everyone. They kept getting greedier and greedier so when they disabled 3rd party apps I ditched Reddit.

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.

I'm doing my part, fuck spez

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.

Fuck Zuckerberg, Fuck Spez!! 🖕🖕

Good, fuck spez.

As someone has had their accounts shadow banned across of wide swaths of reddit, despite being one of its first users... good fucking riddance.

The last time I have logged in to Reddit was the day they ended the apps, July 1 I think it was. I haven't been back since. I thought I would miss it more than I do but honestly I never even think about it anymore and am much happier with my new Lemmy life.

Enough about my ex

I don't normally comment on reddit news, but... Lol.

I don't know if reddit ads provide a good roas. We tried a few campaigns and gave up because it was so far off what we see on other platforms. The community is super anti-advertising, the targeting is really limited by community and geo.

People go to reddit to veg out, not to shop. I think the only times I've made purchases based on things I've seen are when there's a discussion and numerous people make a recommendation for the same thing, or maybe a few cases when the op is showcasing something they had a personal part in creating.

Moved to Lemmy, best choice ever.

So they did $800M when they wanted to do $1B. Okay that’s disappointing.

But the eye opener for me in this article is that they did $800M in 2023 up from $350M in 2021. That’s insane revenue growth. This is the first time I’ve seen any inkling that their IPO might have some chance.

Still, you’d have to believe they can get to multiple billions. I think it’s much more likely that they will fall flat and actually help kill whatever optimism there might be about IPOs in the market.

Deleted Reddit because they blocked me from fetching subreddit RSS feeds which was the only reasonable interface left

Reddit needs to go!