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  • nucleative@kbin.social
    22·
    1 year ago

    I have a theory and haven’t seen anyone else suggest it yet. While I am sure Spez is the tard monkey he appears to be, he only has one choice.

    1. The board/VC investors are ready to cash out now. Spez is too because this ceo job is a lot more annoying to do every day than trolling people. There is a massive payday just around the corner awaiting him and his buddies. The only metrics that matter are what his company looks like on paper to the likes of Goldman Sachs. He doesn’t give a rip about mods, 3P apps, APIs, or even users.

    2. Reddit is (probably) running out of cash. They can’t even find a measly $10m bucks for Apollo. They can’t afford to NOT get the ad revenue from 3P clients because the bills are so tight right now. You can’t meet the salary of 3,000 “Snoos” (reddit employees) by pimping reddit gold all day long.

    Spez needs to wrap this up ASAP so this removed can get put out to sale and he can ride off into the sunset.

    • ryathal@sh.itjust.works
      4·
      1 year ago

      Both are probably true. Some more things that help those claims.

      • ad revenue per user is garbage on reddit, and forcing third party users into their app is a small number of users.
      • reddit is currently not profitable, likely because they hired a ton of people trying to get more growth that didn’t happen.
      • reddit has no good ideas on how to effectively monetize the site, they also have no good concept of who is important for user engagement.
    • 2Xtreme21@lemmy.world
      2·
      1 year ago

      I agree with you and have thought that from the start of this drama. Spez doesn’t give two shits about the future of Reddit. As soon as the IPO launches he’s cashing out and fucking off. Who cares what he leaves behind.

    • orbit@beehaw.org
      1·
      1 year ago

      Totally agree. If everything goes the way spez wants he’ll be out and retired within 3-5 years if not sooner

    • StrayCatFrump@beehaw.orgEnglish
      1·
      1 year ago

      Yeah. People like to pin this on the CEO individually, but really it is the cycle of enshittification that is pretty endemic to the “tech industry”.

      It’s good that people are throwing up resistance to it—and absolutely no one should care about the fucking CEO’s feelings, or his wallet—but we also need to grow past thinking this is all based on individual behavior and realize that it’s capitalism, stupid! If people don’t learn from this, and simply move on to the next shitty platform made by the next shitty capitalist enterprise, we’re just going to prolong our own misery.

  • andrew@lemmy.stuart.fun
    14·
    1 year ago

    Steve Huffman on June 15th: “These people who are mad, they’re mad because they used to get something for free, and now it’s going to be not free. And that free comes at the expense of our other users and our business. That’s what this is about. It can’t be free.”

    Kinda sucks when people who used to give you something for free stop giving it to you for free, doesn’t it Steve? The lack of understanding of the irony in his statement is simply stunning.

  • Rosriv@kbin.social
    13·
    1 year ago

    This was a tough read. At this point I just wish investors would invest in something Apollo and other 3rd parties created; they’re clearly better at running a business…

  • g0nz0li0@beehaw.org
    12·
    1 year ago

    The fact that all of Huffman and Reddit’s claims are so easily debunked is honestly a sad and sorry state.

  • Meshuggah333@kbin.social
    7·
    1 year ago

    I knew u/spez and the company at large were scummy, but nothing to that extent. One more reason to not use Reddit ever again.

    • AMindForeverVoyaging@lemmy.fmhy.mlEnglish
      5·
      1 year ago

      Not just scummy, but dictatorial in the stupidest possible way. It’s basically like a parent, unable to justify an unreasonable edict, ending any discussion with a “because I said so, that’s why!”