Reddit shares plunged the most on record on Friday after US daily users, lack of new AI deal announcements dissapointed investors.
  • ccunning@lemmy.worldEnglish
    0·
    1 month ago

    CEO Steve Huffman said, “These deals aren’t binary. They have to make sense for Reddit, but there are many ways, I think, for the value to return to Reddit.”

    lol - “The value has left Reddit”
    -/u/spez

    Who could imagine when you piss off:

    1. third party devs who make the apps your best contributers use
    2. your unpaid content creators
    3. your unpaid moderators

    …that the “value” would leave 🤣

    • JensSpahnpasta@feddit.orgEnglish
      1·
      1 month ago

      Reddit never was the same after the whole API/Mod fiasco. Many subreddits simpy died. Old users that made the site what it is left and there were new ones, but the whole vibe shifted.

    • jimmy90@lemmy.worldEnglish
      1·
      1 month ago

      Revenue of $804.9 million beat estimates of $731.8 million. However, US daily active users came in at 53.2 million, just shy of expectations of 54 million. The company’s total daily active users grew by 18% to 130.3 million versus estimates of 130.07 million.

      reddit is fine

    • Remember_the_tooth@lemmy.worldEnglish
      0·
      1 month ago

      Yep, it was the API thing that finally did it for me, but looking back, I should have seen it coming after all of the other stuff.

      • kernelle@lemmy.dbzer0.comEnglish
        2·
        1 month ago

        Third party apps made Reddit a dream on mobile, a big part of its success were the passionate people. And they showed us all the middle finger

      • Leon@pawb.socialEnglish
        1·
        1 month ago

        For me it was the way they treated the Apollo developer Christian Selig leading up to the whole API thing. Absolutely heinous.

      • TheStaffmaster@lemmy.worldEnglish
        0·
        1 month ago

        Remember when YouTube started having AI narrated posts from r/askreddit in its shorts? And how that slowly morphed into the AI generated slop stories about how one family member give the rest of them their comeuppance because the Henderson account valued results instead of random cheap business practices involving Sgt Menendez and his cheating ex girlfriend?

        (This stuff is like candy to Boomers because it mirrors the reader write in sections of Reader’s Digest.)

        I should have noticed this earlier, but it dawned on me a few weeks back.

        • cantstopthesignal@sh.itjust.worksEnglish
          1·
          1 month ago

          Caught my father in law who’s addicted to youtube watching a video about some WWII pilot that knew how to shoot at enemy fighters from his time hunting hogs in Kansas. It was entirely AI generated, the video, the voice, and the narrative. That person didn’t exist and it didn’t survive scrutiny if you know anything about guns. But damn the comments were just boomers gooning over military wank.