Because of Reddit’s organic growth over time, it’s understandable that leadership may be unaware of/unfamiliar with all its moving parts. When good leaders discover moving parts are essential to a portion of their community, they normally strive to preserve and improve access to those moving parts. Not Reddit leadership: they’re continuing to double-down.
But “Fuck u/Admins” is still ok, right?
Time for a grown-up/adult CEO then…
Success will be measured in $$$ and that’s loss of ad revenue. So far, no revenue has been lost because all the buys were placed and paid for pre-Blackout.
The acid test is the 2-weeks from the Blackout - will advertisers flee Reddit for more stable/predictable pastures OR will u/spez and company be able to talk them in to staying by offering concessions for the disruptions in audience delivery?
Stay tuned until July 1: u/spez doesn’t seem like a real flexible kinda guy so far but we don’t know what’s going on behind the scenes.
Quote is from today’s piece here https://www.forbes.com/sites/qai/2023/06/13/redditors-go-to-war-with-the-company-as-it-enforces-eye-watering-prices-for-reddit-api/
It is ALL about the Blackout…
This just in from forbes.com:
“Investors are fed up. Fidelity, which led Reddit’s $700 million funding round in 2021 with a $10 billion valuation, has cut its Reddit company valuation by 41% since it invested. This could scupper Reddit’s plans to eventually go public with a reported valuation of $15 billion.”
Who actually loses a game of chicken of this magnitude?!? u/spez, you listening?!?
Minime cacas!?!?!