Breakingviews - Reddit’s golden geese foul up its IPO plans
Breakingviews - Reddit’s golden geese foul up its IPO plans
Reddit is used to brawls between its 57 million daily users. Now its keyboard warriors are directing their ire at its CEO, Steve Huffman. Thousands of moderators overseeing the site’s so-called subreddits are on strike. It’s a wrinkle in Reddit’s plan to go public, and a sign that plan is premature.
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while this article sheds light from another angle on the investablility of reddit as a commercial property, it still misses the mark regarding the real issues that spez has caused while making the mods appear as somewhat entitled thugs rather than the exploited laborers that they are. in any case, spez is made to look incompetent nonetheless.
i think the clock is ticking for either spez to walk things back, renegotiate API terms, or simply resign. I believe the latter will be the well-earned end result.
I’m okay with him being portrayed as incompetent but I agree spez is far more malicious than he is a bumbling idiot
You can be both an idiot and malicious. Seems that’s what is going on here tbh.
The terms I see in my mind are greedy and incompetent.
Incompetent in management. Planning, decision-making, communication, leadership, of understanding what Reddit has, what it is, what its' strengths are. Every time he does something - or neglects to act - the thing that made Reddit special erodes further.
Incompetent emotionally. The hotheaded knee-jerk pattern of lying, gaslighting, redirecting blame and name-calling we've seen through the years.This, combined with greed and his stupid, damaged worldview and political stances, is a volatile cocktail that does stink of maliciousness.
I think the only way this ends amicably between the community and Reddit at this point is Huffman is ousted and then they can finally entertain other deals for API access. I'm sure they're looking at the insane profits AI companies are raking in largely off of data they scraped from sites like Reddit for free and thinking "WTF". My impression is third party apps got caught kinda in the crossfire on this and weren't actually their main target, but Huffman has managed to turn it in to some weird kind of ego issue now he's accusing multiple developers of antagonizing the platform, refusing to work with them, when we have proof from several of them in multiple instances of the direct opposite. Attempts to reach out that go unanswered. An impossibly timeline to implement changes. Trying to throw the Apollo dev under the bus only to double down when confronted with proof he lied to press. Utterly bizarre. He needs to go.
My problem with the AI narrative is that AI companies probably don't even use the API, they use a web crawler to scrape directly from the website. And any who are using the API can pretty easily switch
My take on this is maybe spez is the least problematic. I mean sure. He is a dick and fuckin malicious. But I think he is also just a fall guy. I'm sure these plans were decided by the people pulling the strings in the background.
Ousting spez will not solve the problem. But it is hella satisfying to see though. I bet after this, no matter the outcome, spez will be let go anyways. And still those responsible for the fiasco will be secure in their thrones and also unnamed.
Reddit will not improve, let's face it. Even if they rescind their decisions now. They have seen what can happen and they're likely to implement more controls in secret and also gradually.
Maybe they tested a theory of theirs, that's why we see their move as idiotic. They tested how strong the communty has become, and we've shown them all our cards. And now that they survived, they'll slowly work their way to get the upper hand. Gradually chipping the independence of their userbase.
I've already moved on and accepted that the reddit I knew is gone. Even if they decide to make the api free for 3rd party tools. They have seen their weakness and will be slowly patching it off.
He will resign after the changes are implemented, or after the IPO. He’s the scapegoat of the investors