Social networks are probably where users have the most power, though. The network effect is a reason by itself to join a certain social network, and while there is a lot of inertia in the total mass, larger groups of users are more likely to flock off to wherever their needs are met best.
Reddit may still make money by “trimming the fat” of users who want this or that extra feature… but what’s mind boggling is that they pretty much had the problem already solved: allow the “power users” get their extra features through 3rd party stuff Reddit didn’t need to pay for, while Reddit could keep growing and squeezing the main mass of users who didn’t care.
Instead of just cutting off power users, they should have offered 3rd party apps a profit split for running Reddit ads, required 3rd part apps to use Reddit’s avatar-NFTs, profit split on selling Reddit gold, and generally require everyone to take some part in the money making mechanisms instead of pushing people off the platform.
At this point, even Twitter has a better leadership, at least Musk has turned Twitter into a “pay to troll” game, and lots of people are happy to take part in it.
Social networks are probably where users have the most power, though. The network effect is a reason by itself to join a certain social network, and while there is a lot of inertia in the total mass, larger groups of users are more likely to flock off to wherever their needs are met best.
Reddit may still make money by “trimming the fat” of users who want this or that extra feature… but what’s mind boggling is that they pretty much had the problem already solved: allow the “power users” get their extra features through 3rd party stuff Reddit didn’t need to pay for, while Reddit could keep growing and squeezing the main mass of users who didn’t care.
Instead of just cutting off power users, they should have offered 3rd party apps a profit split for running Reddit ads, required 3rd part apps to use Reddit’s avatar-NFTs, profit split on selling Reddit gold, and generally require everyone to take some part in the money making mechanisms instead of pushing people off the platform.
At this point, even Twitter has a better leadership, at least Musk has turned Twitter into a “pay to troll” game, and lots of people are happy to take part in it.