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Lol… the fact that they are saying they “won”.
I think no one expected Reddit to just fold in a month, if that was their terms for “winning” then… congratulations?
For a social media giant such as Reddit, it takes years to come down, just like it took years to get where it was. However, the seeds are sown, and for every decision that only benefits their pockets and not the user, they creep closer to that reality of their own demise.
It takes a long time for sites to die completely. Livejournal was wildly popular in its day, but after a couple of changes of owners and becoming a Russian government propaganda machine later, it still exists, but despite me being a staunch LJer I don't know anyone who still posts there. Nobody talks about it as anything but in the past tense. In time I expect Reddit to be another internet graveyard.
Not sure they have. No traffic stats yet on July which was when the API changes took effect
At what cost, though?
Yes, I feel long-term damage will be more interesting. If there are viable alternatives, people may migrate over, a large part of the reddit community still knows what happened, and I doubt that with the current CEO that reddit will succeed long-term
To be fair, before the reddit crisis I was looking for a decentralised foss alternative but didn't find anything worthwhile. So, imo, the mere fact that this event may have helped put Lemmy in the spotlight and made it grow is in itself the victory to take away from this battle :)
Eh, who knows. You can buy a news story now so we'll never really know much of the truth. I know I haven't been back, and I don't even care about API stuff, I just disliked the way the CEO was so dismissive of what the reader/user base wanted.
Lol this has just started. Once they IPO and we learn how many tens of millions spez made off mod's unpaid labor, more and more mods (and power users) will wonder why they are doing unpaid work just so spez can get rich.
How many billions did that one company figure they lost on likely market cap? And they want to say they won.
Yeah, Reddit managed to suppress the protests, but saying they won is just not knowing the full story. From Reddit's point of view, this has always been about their IPO, but all this mess did nothing to help with it. In fact, we even got that infamous spez quote saying Reddit isn't profitable, which can only make things worse for them.
When they finally decide to push for their IPO and they aren't unable to provide the profits the investors want, then the enshittification will just accelerate and people will start leaving.
Yup, reddit never cared about the user. They're not a nonprofit. They're a business. So this wasn't a surprise to me.
Yea... won is a matter of opinion.
Did their evaluation go up? SERIOUSLY doubt it.
Did they lose a chunk of userbase? Not as much as we would have hoped. However, quality != quantity. And, I am willing to bet they lost a more vocal part of their userbase.
In the end, they will prob still push for IPO. In the end Spez will still be swimming in dollars. But, not nearly as many dollars as he could have had....