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If the CEO backs down then he’s weak. He needs to publish a hard hitting memo that chastises third party app developers for not creating more sustainable businesses. If Reddit cannot meet it’s revenue goals it will shut down, period.
Main question is why is Reddit a 2000 employees company?
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If the CEO backs down then he’s weak. He needs to publish a hard hitting memo that chastises third party app developers for not creating more sustainable businesses. If Reddit cannot meet it’s revenue goals it will shut down, period.
Bollocks. Tumblr is still around and probably has been losing money for longer than people here have been alive. No one is throwing away the kind of audience reddit has. Now the CEO might lose his job, but let's not get that twisted up with Reddit's survival.
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If the CEO backs down then he’s weak. He needs to publish a hard hitting memo that chastises third party app developers for not creating more sustainable businesses. If Reddit cannot meet it’s revenue goals it will shut down, period.
Bollocks. Tumblr is still around and probably has been losing money for longer than people here have been alive. No one is throwing away the kind of audience reddit has. Now the CEO might lose his job, but let's not get that twisted up with Reddit's survival.
The argument was that you can buy an obscene amount of storage and bandwidth for only a fraction of the money they were raising. It is even more true today. Look at the amount of storage and bandwidth archive.org uses and how little money they bring in. This is not a money issue in terms of running the site.
It’s impressive how their CEO keeps shooting himself in the foot on this one, he could compromise a bit by at least expanding the deadline on the pricing changes, but instead he decides to provoke and double down. The leaked internal memo, which is obvious that would leak (after all it is a 2,000 person company) is a clear provocation: > We do anticipate many of them will come back by Wednesday, as many have said as…
Is there something counter-intuitive about reddit that makes it hard to monetize? That's the core issue. Reddit still makes barely $1/user/month while instagram makes $35. Cutting off the 3rd party apps is a cost-cutting move, not a revenue-generating move. Why haven't they managed to find more revenue? I'm loath to say it but Huffman has had a decade to solve this and hasn't. Might be time for new leadership with ne…
That and instagram ads are said to be better.
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It's purely a numbers game. If the amount of revenue you'll achieve from less users gives you a more positive multi year outlook financially then losing the users is "worth it", especially if those users fall into cohorts that are less financially valuable. Unfortunately that includes people who take part in blackouts as they correlate highly with people who e.g. run adblockers, use third party apps, etc.
Has this strategy ever worked in the history of social media businesses?
Reddit's moderators are holding people hostage. This just shows how the small group of powerhungry mods acts. I hope reddit finds a solution that serves its users who provide the content.
A lot of those mods held polls in their communities and among their peers before going dark. I don't think the large subreddits are getting unilaterally shut down.
Reddit has much bigger problems to solve. First and foremost, that users have no recourse from moderation abuses, and this is killing the community more than the API changes.
Honest question since I don't really know how reddit works: Why can't reddit just forcefully re-open the subs that have been taken private? Mods are using powers given to them by the platform and I don't get why they are not being stripped of (some of) those powers.
Taking an authoritarian approach might just cause even more noise for even longer. I think Huffman would like a war of attrition instead. Eventually mods will feel powerless because the execs won’t budge, and denying the community access to the subreddit will cause more problems than it appears to solve.
I am sure they'll be terribly disappointed to be deprived of their... opportunity to work for free...
It’s impressive how their CEO keeps shooting himself in the foot on this one, he could compromise a bit by at least expanding the deadline on the pricing changes, but instead he decides to provoke and double down. The leaked internal memo, which is obvious that would leak (after all it is a 2,000 person company) is a clear provocation: > We do anticipate many of them will come back by Wednesday, as many have said as…
> It’s impressive how their CEO keeps shooting himself in the foot on this one You don't negotiate with blackmailers, because this is what this is now, blackmail. If things continue like this I give it 5 to 7 days until reddit the company forcefully removes these mods.