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Major Reddit communities will go dark to protest threat to third-party apps
(www.theverge.com)
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this post was submitted on 05 Jun 2023
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Technology
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The hilarious part is that Fidelity, a current investor in Reddit, already cut the valuation of their stake in Reddit by 41%.. Its obvious that investors already see Reddit as a sinking ship and that the social media value bubble run on debt is deflating, now that the free money Fed policy is a distant memory. All these moves are going to do is shutter their company with zero to show for it. Had they just done nothing, their IPO would have probably gone better lmfao. Most intelligent Reddit ceo moment.
even funnier... as a dinosaur, reddit could have persisted on and grown. there were enough old souls wedded to reddit to make it less swampy than some other centralized sites. the gamification of interactions and internet point scoring was mostly ignorable with minor effort. now... there will be a non-trivial exodus of people. people who's identities are not completely tied to the daily dopamine hit. in other words, the very same people that build communities.