I believe they want us out of reddit.
And by us I mean those who use 3rd party apps, therefore don't watch ads. Us who have ublock origin on our web browser etc.
this post was submitted on 16 Jun 2023
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The ads are the main part, plain and simple. Any other factor is smoke and mirrors. The want to IPO, just have to follow the money.
I don't get the 'ad' justification. Because, if they wanted to make up for the lost ad revenue, they just needed to charge around 100th of what they decided. Huffman stated they're aware of AI people training with reddit data, and I think it's clear that they're pricing the API to capitalize on AI training, everyone else be damned.
Naturally, Huffman explicitly stated in an earlier interview that he did not look to other platforms for examples of how to run reddit. It's safe to assume that anything that comes out of his mouth is lie.
Yes, let's emulate the guy whose company lost 59% of its ad revenue and is being evicted from its office buildings due to delinquent rent. Surely this will increase profitability.
That's just goofy. Imagine saying that after everything E*** M*** has done to Twitter. Shoot, even if you do want to emulate the way Twitter has ran itself into the ground, at least be smart enough not to tell users and (potential) investors about it. (Although I guess I do respect the honesty.)