Same here with both things. But actually I like it for now and really hope many people follow our path.
Yeah, it's actually been really fun finding new communities and watching it grow here.
Reddit Inc. itself lost really hard.
For Reddit Inc., the winning conditions are to get share prices up to the roof, so when the IPO happens the current shareholders leave with their pockets full of money. However, everything that is happening shows:
Both increase the risk and decrease the expected profit. Nobody is insane to invest in a company like this.
For the community it depends on your goals.
I count the situation as a big win; alternatives became more viable, Reddit as a platform will become less and less relevant, and the scummy company will lose lots of money.
If however you expected Reddit to play nice with its userbase (e.g. reverting API price changes), then count it as a loss.
I'm also struck by the incongruity that reddit makes something like 12c/user/month but their fair-actual-cost of the API calls needed to service that user are in the $2-3 range.
I suspect that's a lie and that the API prices are profiteering, but that isn't exactly inspiring me to invest in them :D
This. I don't think the exodus has peaked yet. Nothing really changed to make people turn away, those of us who already found our way here, did so in anticipation of change. But that's not how people work, most people will only seek an alternative AFTER their default way of doing something has been taken from them.
The biggest wave is yet to come. (fediverse nodes plz no crash)
I know atleast one redditor who still uses it via RIF but is waiting for the 30th and is not sure what to do then and has expressed interest towards Lemmy when I've told about it.
Also still getting my last rounds of content theft in on reddit via Relay. I have thousands of folders of saved stuff that I can dig into for content to post. The in-dev Artemis mobile app for lemmy looks slick af, if your friend needs convincing.
Third party apps are about 10% of total Android downloads. It is also theorized that the 10% are more likely to be power users than the Reddit average. 20% seems on the upper bounds of what I'd expect.
We may underestimate the amount of power-users who are really into their ad-free thrid party apps. The vast majority of reddit users more or less just lurk.
Yeah, from what I've seen it's under 10 percent. But I do wonder if that minority is providing a disproportionate amount of quality content for everyone else.
Honestly, at this point, it doesn't matter to me. After ~12 years of Reddit, I was looking for an excuse to leave, and they finally gave me one. Even if the Fediverse is never as popular as Reddit, it's already enough that I don't feel the need to go back.
Reddit has come out worse, because why would I want to invest in Reddit?
It can be win-win. Reddit owns their platform and they can implement whatever enshittified features they want. Ideally that acts as a filter to keep the worst element of reddit over on that side of the fence where they can be happily monetized.
Meanwhile the folks who prefer this more open-sourcey federated experience not owned by a Profit-Driven Company (tm) are free to move here. Reddit owns their platform, but they do not own the community, and I'm looking forward to a userbase hopefully comprised of more thoughtful, intentional posters.
I think all of this is happening because the investors and VC people want to cash out asap, because the era of zero interest money is over and everything is falling apart. As far as they're concerned, Reddit is valuable because you can sell it for a lot of money; if Reddit is important or valuable to its users, that's entirely accidental fact that can and will be sacrificed to make an IPO happen (later this year).
I think they win if they manage to get to go public, and so far none of this will stand in the way of that happening.
thanks for using Leebra!
go to feed...
All I know is I'm reading this in a third party app called jerboa using an account in lemmy. Neither of which I'd even heard of a week ago.
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