this post was submitted on 07 Jul 2023
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Reddit risks losing its identity in pursuit of profits (www.techzine.eu)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Reddit isn't profitable, despite having more than 50 million daily active users. In preparation for an IPO, CEO Steve Huffman put the platform's API

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[–] Ketchup@reddthat.com 2 points 1 year ago (1 children)

I totally agree. Devaluing the product seems to be the way of business during this inflation. On social networks it’s the content creators. In the music industry it’s the plummeting percentage paid to artists over the last 5 years. You see it everywhere. Simultaneously requiring subscriptions. Essentially Reddit was going to force the API into a subscription profit model if Christian Selig went along and kept Apollo alive.