I made this comment in another thread last week, but I think it still holds up:

I think what this entire debacle has revealed is how incredibly unfit Huffman is to be involved in running a major site, much less one with as much reach as reddit.

I’ve read most of his comments and it’s all centered around “reddit can’t afford to keep paying everyone’s API fees while everyone else makes bank”. Which is fair enough.

But it also reads like a CEO who simply hasn’t been paying attention to much of anything and who woke up one morning to realize that they’d already handed away the company’s most valuable assets by letting Google and ChatGPT and other LLM companies harvest everything they need to build their products while reddit happily and blithely pays the bills. And now that other companies are starting to look profitable by building off what reddit paid to give away, Hoffman is both massively jealous and panicking, desperately trying to put the genie back in the bottle.

Only instead of going through every company that uses the API, figuring out how much they use and what they use it for and how necessary that use is for reddit’s business, it looks like he panicked and tried to charge everyone the same rate. He didn’t do any research into the issue and realize that Google harvests massive amounts of data that it uses in it’s search results and to improve and program it’s products and makes massive amounts of money, vs small apps that run basic queries that massively improve the reddit experience and that don’t make much money at all. He just wants to charge everyone the same amount and keeps demanding that small apps pay the same as Google, because he’s pissed he wasn’t paying enough attention to notice what was going on.

And he’s scared shirtless because he’s had an easy run of reddit CEO, and now people are asking questions about his lack of vision and he’s afraid that no one will ever give him such an easy and lucrative job ever again. And $10 million in the bank plus whatever stock options he has may look like a lot of money to us peons, it really isn’t among the people he wants to keep hanging around with.

The one thing he’s doing half-smart is the spin game. That’s what that AMA was about, not to engage with the community, but to put out a dozen or so pre-written quotes that reddit could point to in interviews and say “look, here, this is what’s really going on, and we’ve tried.”

In the end, I think Huffman’s massive failings can be summarized in his comment that “[reddit will] continue to be profit-driven until profits arrive” - as if the arrival of profits is inevitable and no one needs to do anything to ensure their safe journey. Which seems to summarize his period as CEO: just coast along like normal and surely some profits will arrive - and then panic when the profits start arriving for companies with CEOs who do they job and attention to their business.