cross-posted from: https://lemmy.world/post/1190537
How is reddit post protest, did it really win over protesters? Did the ones who left make a dent? Or like all things before, did it ultimately do nothing?
cross-posted from: https://lemmy.world/post/1190537
How is reddit post protest, did it really win over protesters? Did the ones who left make a dent? Or like all things before, did it ultimately do nothing?
Yeah reddit won. But the whole fiasco led me to lemmy which I like much more, so they can have their cake
Lemmy and Kbin won.
Reddit came out of it possibly still standing, but obviously weakened in many ways compared to before. Meanwhile, over here there’s now a bunch of activity and the development and servers seem to be well funded. And we (the Fediverse) didn’t even participate in the fight - it was all Reddit punching itself in the face.
The consumers also won, as we now have viable alternatives to choose from.
Maybe the fact that Reddit is still alive and active could be considered “winning”, in which case Musk’s Twitter is also “winning” every day. But that’s one hell of a low bar for what should be considered a victory in a fight you yourself started.
Yup, imagine starting a fight, after which the other person beats you with a baseball bat a few times and just kicks you while your down for a while and eventually gets bored and walks away… And then you get up and declare, “I Won!”
And didn’t they lose like half their value in prep for IPO?
We’re still waiting for actual figures, the 7% often cited was from weeks before the protest. Reddit Inc’s behavior was extremely unprofessional, they did an absolutely terrible job at controlling their community, and the quality content that’s the main driver for Reddit’s success has took a massive hit as they alienated their core niche. They will undoubtedly vilify said core niche in their communications, in an attempt to fool prospective investors into thinking they just “got rid of a bunch of nerds who were against their totally sane monetization practices”, but what they really did is they cut off the 1 from the 1-9-90 rule, they drove away their core contributors who kept the other 9% of users engaged and the remaining 90% lurking and still consuming ads.
The real impact to Reddit’s platform isn’t going to happen today or tomorrow, the damage will take months to set in as the reduced value of content results in reduced user engagement and retention. And by the time they see the charts, it will be too late to act. As for their valuation, it is up in the air due to the delayed effect, but any smart investor should see the clear signs shown here and exercise extreme caution about the valuation they assign to Reddit. The site appears to perform better for now, because it’s easy to force dissenting voices off the platform, reign in unruly mod teams and force them to open up their communities to their specifications, but pulling the lost users back on the platform, especially their most valuable and connected contributors whose trust and buy-in is now thoroughly broken, is not something Reddit can force. And it’s crystal clear that Reddit can no longer accomplish anything regarding its community without use of force. They lost the carrot and only have a stick now, and sticks don’t bring value to your platform.