Reddit’s unpopular decision to revise its API pricing in a move that’s forcing third-party apps out of business has taken a weird turn. In an AMA hosted today by Reddit co-founder and CEO Steve Huffman, aka u/spez on the internet forum site, the exec doubled down on accusations against the developer behind the well-liked third-party […]
Admitting that “Unlike some of the 3P apps, we are not profitable.” just shows to the world, that they don’t know how to run a business.
This should be warning shot for every investor.
This whole thing is all about trying to monetize user-generated content by selling it at a high premium to large AI companies. If they allow a lower pricing tier for 3pa’s, other companies/individuals will find a way to use that lower tier for training models, and this is the only thing spez sees as a viable profit model for reddit.
Exactly! I’m not a rich investor person, but nobody with a brain would invest in a company bleeding money, and that was such a terrible move to admit. If their PR isn’t a half-working AI after firing all those people, they should’ve been horrified between that and the Christian Selig/Apollo comments.
You also can’t count on Reddit becoming a meme stock, especially with absolutely zero regard for the users who make these meme stocks happen.
Admitting that “Unlike some of the 3P apps, we are not profitable.” just shows to the world, that they don’t know how to run a business. This should be warning shot for every investor.
This whole thing is all about trying to monetize user-generated content by selling it at a high premium to large AI companies. If they allow a lower pricing tier for 3pa’s, other companies/individuals will find a way to use that lower tier for training models, and this is the only thing spez sees as a viable profit model for reddit.
When i read that i was honestly astonished how they expected anyone to invest in reddit at all
Exactly! I’m not a rich investor person, but nobody with a brain would invest in a company bleeding money, and that was such a terrible move to admit. If their PR isn’t a half-working AI after firing all those people, they should’ve been horrified between that and the Christian Selig/Apollo comments.
You also can’t count on Reddit becoming a meme stock, especially with absolutely zero regard for the users who make these meme stocks happen.