Reddit CEO Triples Down, Insults, Whines
techdirt.com
techdirt.com
There are a couple subs keeping me on reddit, but for less time, and I'm less engaged. They could be replaced with a modicum of effort.
Financially it seems like Reddit is between a rock and a hard place, and has opted to pick up the rock and bash itself in the head.
People in general like playing games and don’t mind paying for them. See: Video game industry is loaded.
"Whales" present the same problem to video game companies as a single large customer has on a small business or a lucrative vertical in large businesses (see Google, Facebook). That outsized revenue stream dictates where the rest of the product goes because nothing brings in close to the same revenue.
With hacker news, I don’t know… It doesn’t have the same vibe as something like Facebook. We all seem to be interested in the general themes here, conversation leans towards constructive, and there isn’t much noise to filter from signals. I wouldn’t mind finding that elsewhere, but no amount of feed configuring on Reddit or Twitter ever got me where I wanted to be.
Whenever I click a link over to Reddit I get the sense that I really haven’t missed anything since the last time, however many months before.
I don’t just regret walking around for a few months stinking of Old Spice - I regret drinking Apple Cider vinegar, recommending my sister look into nootropic drugs, and arguing with family members based on flimsy political talking points.
BTW was it a reflex that you capitalized it? ;)
Edit: Sorry, I'm on a Nuts device.
Also, I tried to correct the capitalisation but it auto correct again, and I couldn’t be bothered to fix it ;)
Many (myself included) have relied upon Reddit in the past for niche advice or recommendations. My key is to only do so in applying topics I already understand enough to apply safely, so I know whether I’m reading a clever idea or someone talking out their ass.
If you go back to the early 2010s, there was Geekhack. Back then, the hobby was much smaller and you had a lot of stuff done with Model Ms (the default "good keyboard", walkthroughs on how to order the few mechanical boards available from Japan or Taiwan, and the beginnings of group-buy culture. Deskthority emerged a few years later, and developed a bit of its own voice-- more of an EU audience, and these days more oriented around vintage keyboards than new stuff. Their wiki is still probably the deepest resource for some vintage switches and boards.
Meanwhile, there was a weird figure who was fairly large on both communities: "ripster"-- while incredibly knowledgable, a lot of people found his presence chafing. He eventually took the reins of /r/mk and faded away from the other communities.
> CryptoSnoos NFTs
> Non-fungible, highly collectible, and ready to take off
> Take advantage of this rare opportunity to own a piece of Reddit history—snag a CryptoSnoo NFT built on the Ethereum blockchain and start your collection.
Some time and money well spent there.
the others examples mentioned above are more pertinent.
Of course, it was only this year that I realized reddit even has these snoo avatar things on people's profiles. So maybe I'm wildly off
They were just selling a feature on their website (ability to use an image in some way) with blockchain used as a way to keep transaction and ownership records.
Just like skins and items in the games that aren't securities with a COOL'n'TRENDY way to store database records.
I grew up in the 2000s. I've constantly seen people on the internet complaining about its modern state, saying the internet of the 90s was so much better, less spam, filled with smart people, etc. Basically saying that the mass influx of people is what turned the internet into the cesspool it is today.
I of course never got to experience this, so all my life I've only been able to dream about what this is like. But this Lemmy / Fediverse stuff seems promising. A discussion platform that requires technical expertise to engage in (for now) while also being completely decentralized... seems analogous to the early internet for sure.
Am I correct in this assumption? Are these platforms home to high quality discussion and little spam? If so, then I think I'd bite the bullet and try to figure out how to actually set this stuff up on my PC.
There also was no pyramid scheme vibe because advertisement hadn't taken hold as kind of an important part of all things. Paying for hosting and thinking about like becoming viral were not concerns that I recognized then.
It's basically the effect of people interested enough to be already connected on some level in a small group, but not trivial to find and flooded with people. Any group over 200 people losses that charm I think.
The last one I joined was a discord for a smaller podcast with maybe 20 active users and it's lots of fun.
But back in the 90s (and moreso before that), the average Internet user was more technically minded. For instance, everyone on IRC had a basic sense of how NAT affected TCP connection setup and whether a private message or DCC chat would be more appropriate, and who should initiate the DCC chat. They had a sense of what a T1 line was and had a better mental model of how pieces connected together. Nowadays, the average user doesn't have to navigate technical issues and can only be trusted to know the difference between swiping left and swiping right.
This makes it easy for major services to pimp their own users and make obscene amounts of money.
That said, the dream of the 90s is alive in Lemmy and other new technologies. It would be sad if you didn't explore what's out there.
People were given the sum of human knowledge and instead of becoming more self sufficient they have become more reliant. Take for instance repair cafes, whose goal isn't to repair stuff for people but to teach people that things can be repaired which if you think about it for a bit is mind boggling.
Instead of taking advantage of knowledge and experience humanity has doubled down on denial, hatred, superstition and outright craziness. Witness the response to COVID and current political polarization happening everywhere.
Instead of sharing information, now a search of the Internet find SEO gibberish, scams, fake reviews and all manner of horrors that we never expected possible in the 80s and 90s from the Internet.
Today, you go on the internet and oooo cats... wikipedia lookup "polydactyl", get ads for cat toys, check to see if there are any reviews for cat toys, ... 3 hours later, you forgot what you started to do but the Amazon Prime truck is stopped at your house dropping off 17 boxes of cat stuff. And you don't own a cat.
I think what I'm struck by is less his attitude and his approach, and more by his sheer incompetence. He's not just a villain in this case, he's really bad at it.
I don't know if the quality of posts will degrade as time goes on, but even with that, there's some signs that reddit also don't want to hold the status quo for their web-based interface.
In desktop I see more ads are posing as legitimate posts appeared even when adblocker is on.
Sometimes I cannot hold on my login session and just learned recently that reddit is trying A/B testing that some accounts cannot login at all on the browser.
Let's say that I'm skeptical that reddit can hold on the content quality like today.
Reddit dislikes third party app users because these users aren’t interested in anything but essentially original Reddit: a feed of posts sorted by recency and upvotes, with ads clearly marked as ads and no pushiness.
https://blog.law.cornell.edu/voxpop/2011/02/03/pacer-recap-a...
TOS as far as I know is not legally enforceable, and even if it is there are people in countries that disregard such things who are training LLMs.
That's it, solves all problems, but they aren't interested in that for whatever reason.
I think it's much more about collecting data about users' behavior. The official Reddit app already records every keypress, even text that you delete before submitting.
They could have just removed the API, but instead they set it to a ridiculous price that no app dev can afford. That way they get to shift the blame to those devs and say "see, they just don't want to work with us!"
I pay $5/month for Ivory to browse Mastadon, and I don’t like Apollo any less.
Not the same, but this makes me think of that line from Shrek: " Some of you may die, but it's a sacrifice I am willing to make"
Spez doesn't realize he's not an eccentric billionaire with a track record of success, and even if he was, Reddit isn't Twitter, and Elon isn't actually doing a good job with Twitter anyway. Maybe Discord forums will become indexable, or maybe lemmy will get to be hosting friendly, or maybe a web3 something will take Reddits place. All I know is both Slashdot.org and Digg.com still resolve, but I haven't been to either in years. They're still up, paying its owners ad revenue from readers. Which, under capitalism is all you can ask for, really.
Are there any user engagement numbers to back this statement up? I constantly see and hear this, but a lot of the people I followed that initially left Twitter for Mastodon after Musk took over have recently returned.
EDITED: not financial, but user engagement.
From $8.63b in November to $7.8b in January, to $6.55b in April.
I don’t think all of his choices are bad (headcount reduction as an example, but I think he went overboard with it), but there are numbers that back it up somewhat.
[0]: https://www.reuters.com/technology/fidelity-marks-down-value...
> But Twitter’s U.S. advertising revenue for the five weeks from April 1 to the first week of May was $88 million, down 59 percent from a year earlier, according to an internal presentation obtained by The New York Times. The company has regularly fallen short of its U.S. weekly sales projections, sometimes by as much as 30 percent, the document said.
> That performance is unlikely to improve anytime soon, according to the documents and seven current and former Twitter employees.
If that isn't abject failure, what is?
Musk apparently laid of massive numbers of engineers, each news story seemed to grow the tale.
If he laid off 50% of engineers, and the highest paid ones at that, I'd say profits would be up, or at least the same, even with that drop in revenue.
I wonder what the true story is, re: profit, and without any tax savings writedowns / earning reports in rhe mix.
Unfortunately, even if that is the case, there's $1B of debt servicing per year which wipes that completely out.
Even in what I think was Twitter's best year, they only made $580M profit (which ended up being a $220M loss because of an $800M settlement) - and that included a much better ad revenue situation, etc.
>If that isn't abject failure, what is?
Users fleeing the platform and no longer providing revenue would be abject failure. Companies pausing advertisement dollars as rates rise and tech generally having a tumultuous time in the market isn't an "abject failure".
Oh yes, NBC had an interview with spez and he said exactly that. https://www.nbcnews.com/tech/tech-news/reddit-blackout-prote...
I was going to say that “my opinion is that he’s doing a bad acting job of an extraterrestrial attempting to play the role of sociopath CEO”, but you capture it much better than I did.
Put another way, everyone reaches their level of mediocrity at some point. He seems to be coasting above his. I wonder what his crash landing will look like.
that's my opinion
Has anybody ever made a mirror of Reddit? Like something somebody could use with Kiwix?
Maybe someone out there still has an automated dump set up.
The question is how many users will leave once the dust settles, and are those users major contributors or not.
https://old.reddit.com/r/homelab/comments/14coph4/rhomelab_i...
Seems the CEO called it right, but as you say long term effects are tbd
Then this happens...
At worst, Reddit will break the law.
At best, it forces Reddit to delete data that they apparently consider incredibly valuable.