just so this doesn’t overwhelm our front page too much, i think now’s a good time to start consolidating discussions. existing threads will be kept up, but unless a big update comes let’s try to keep what’s happening in this thread instead of across 10.
developments to this point:
- Apollo for Reddit is shutting down
- Reddit is Fun will also shut down
- Reddit CEO (/u/spez) is going to hold a AMA about the API update
- Sync has announced it is shutting down
- ReddPlanet has announced it is shutting down
- Reddit creates an API exemption for noncommercial accessibility apps
- /r/videos is planning to shut down indefinitely, beginning June 11
- A subreddit dedicated to migrating to kbin.social has been closed by Reddit
The Verge is on it as usual, also–here’s their latest coverage (h/t @[email protected]):
other media coverage:
He’s selling and he’s going to point his investors to his AMA comments.
Not sure what his responses are going to do for investors’ confidence, given that they mostly show a complete lack of understanding of his userbase, and the reaction to them implies that he’s trying to sell them damaged goods.
I mean, I might have accepted a response along the lines of “We’re very sorry that we slandered the dev of the most popular third party app for our service, tensions have been running high of late and we’re all not at our best right now. Also, bottom line is that running Reddit is ruinously expensive and we desperately need to monetize users somehow, and this seemed like a viable option at the time.”
Instead it’s all doubling down on everything, not giving any ground. They want those Elon Twitter API dollars (to the extent that anybody is actually paying those!) and they’re done with treating their users as anything other than content generation for LLM model training.
Again anything public facing is a lie. The rich investment firms know that it’s designed just to try and placate an unruly userbase. Now if something comes of it? Then they’ll care. If the blackout happens I wouldn’t be shocked if there’s wholesame usurpation of the mod teams to reopen the big ones.
I fully expect that subs with major frontpage presences are going to get taken over by the mothership and reopened almost immediately. They may even be able to find some poor saps to mod them, at least for a couple weeks until they realize that’s a full-time job. But the smaller subs are what long-time and power users end up diffusing to and what keeps them engaged with the site over time, and those are likely going to be dead or zombies shortly. Any investor putting money into Reddit for any reason other than short-term trading or hoping to be at the front of the line to pick over the corpse in a few years has failed to do their due diligence.
Now is the perfect time to short reddit stock :o
I think the way I see it is that the vast majority of Reddit users have no idea that any of this is going on, and wouldn’t care if they did.
So from Corporate’s perspective, all they have to do is deal with a few weeks of whining and teeth gnashing, before everything calms down again and they can get on with whoring Reddit out.
Ultimately they’ll end up back in the black again, and making enough money from the IPO to not give the tiniest rats ass about any of this. They’ll sail off into the sunset on a fleet of expensive yachts, and never give Reddit another thought.
The people who don’t notice are probably not the people bringing the content or moderating the subs though.