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I logged in to Reddit today
(lemmy.world)
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this post was submitted on 05 Jul 2023
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I find it problematic that Reddit thinks it can just sell all the content it’s users created. I like that people are deleting everything, making the site less useful, but it is sad losing all of that knowledge. I hope it reappears in the fediverse.
Imagine if Wikipedia changed its financial model. That would be a major, major problem.
I think the mentality at reddit leadership has changed just about 180° since it started. It's not just Steve Huffman, although he is leading it.
Originally they were part of building a community, and users were part of that community.
Now they have become an ordinary business, who believe they are providing a service that should not just be sustainable but monetized as much as possible, and users are no longer a real community, but merely users of a service for profit. No different from Google, Facebook, Twitter etc.
But it's a simple service, not more than a fancy forum, where users provide the content. It's doubtful the service is valuable enough, to allow drawing out much money on advertising before users go elsewhere. And when the users go, so does the content, which can easily turn into a death spiral.
It's basically Usenet with nicer formatting :)