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this post was submitted on 22 Jun 2023
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Technology
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The option they should have gone for was to put the onus of 3PA on users: Either you pay for reddit premium or you use the app. This would have worked out more and I absolutely would pay a fair price to keep using Boost. This is what they should have done.
But, they didn't. And then offered a tight window, and that's why we're here.
I wouldn't have even hesitated to buy Premium if it was the only way to use third party apps. That seems reasonable. I paid more for a completely pointless Snoo bobblehead like a decade ago, at least Premium in that context would provide some actual benefit!
Venture Capital isn’t compatible with asking people to pay what something is worth. You might find a fair price that keeps enough users to make the business sustainable, but that’s what they derisively refer to as a "lifestyle business". VCs are looking for 100x profits in a couple of years, and that necessitates slimy revenue models. Nothing else works.