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  • nucleative@kbin.social
    5·
    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 bitch can get put out to sale and he can ride off into the sunset.

    • ryathal@sh.itjust.works
      3·
      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.
  • andrew@lemmy.stuart.fun
    4·
    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
    4·
    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…

  • war@kbin.social
    2·
    1 year ago

    Spez is a corpo shit stain. It is a shame we live in a world where being a corpo shit stain is rewarded and lauded by the masses.

  • Meshuggah333@kbin.social
    1·
    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.

  • g0nz0li0@beehaw.org
    1·
    1 year ago

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