The Reddit Protest Is Finally Over. Reddit Won.
gizmodo.com
The last major holdouts in the protest against Reddit’s API pricing relented, abandoning the so-called “John Oliver rules” which only allowed posts featuring the TV host. It's the official end of the battle. The Reddit protest is over, and Reddit won.

The title is a bit clickbaity but the article is worth a read. To keep it short:

  • large subreddits stopped protesting
  • 1.8k subreddits are still in the dark, but those are rather small
  • [from the article] “Though the Reddit team likely caused permanent damage to the platform and its relationship with users, Spez got his way. But that victory might not mean much.”

IMO it was a Pyrrhic victory. Sure, the protests ended, and most users are still stuck in that shithole… but the reputation damage won’t be reversed, Reddit managed to seed its competitors (as this one) with the necessary userbase to make them functional, and odds are that Reddit will keep going in its death spiral. And that doesn’t even take into account the amount of bad press that it generated, that will hurt IPO numbers for sure.

  • SatanicNotMessianic@lemmy.mlEnglish
    2·
    11 months ago

    Reddit has lost 2/3 of their valuation in less than a year, and that was before the protests. That’s not a success kind of metric. And that number is from the institutional investors saying how much they’re marking down their investments - it’s not like some people trying to tank the stock.

    Basically, the metrics which have not not all been made public have made the people and institutions with a collective billions of dollars already invested in the company are the ones saying it’s in the basement.